BEIJING, April 11,
2023 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ:
SEED) (the "Company" or "Origin"), announced today that its GMO
corn hybrid is the one and only triple stacked trait corn selected
for the national demo plot and is currently being grown there in
anticipation of a 2023 commercial launch.
The hybrid has the approved triple stack traits BFL4-2, which is
comprised of two different insect resistance genes, making it
resistant to all the major corn pests, as well as an herbicide
resistance gene. BFL4-2 is considered by many in the industry to be
the 'crown jewel' of current seed traits in China as it is the only approved triple stack
trait. Using its proprietary germplasm and transgenic technology,
Origin collaborated on the development program for BFL4-2 and is
the only company to have the stacked traits integrated into hybrid
corn, giving it a several year head start over potential
competition.
Origin filed for variety approval in March for four
different varieties containing BFL4-2, including the Company's NEC
corn, making this highly sought after variety even more desirable
with dramatically increased yields. Given the typical timeline,
approval for these varieties could happen this summer for a 2023
commercial launch.
"I believe that having this 'crown jewel' triple stacked trait
integrated into four of our hybrid corn, along with our other
traits in the approval process including our drought resistance
gene, really puts us in the pole position in the race to
commercialize GMO corn in China,"
said Origin Agritech's Chairman Gangchen Han. "I am very thankful
that the MOA recognized the importance of our revolutionary new GMO
corn varieties by including them in the demo plot. We have been
preparing for the move to GMO positive for over a decade and I
believe we are the best positioned company to capitalize on this
multi-billion-dollar market opportunity."
Origin has published a new investor deck on its website, which
can be downloaded at the bottom of the homepage at
originagritech.com. We also added an option to sign up for investor
email alerts in our investor relations section of our website.
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is a leading Chinese agricultural
technology company. In crop seed biotechnologies, Origin Agritech's
phytase corn was the first transgenic corn to receive the
Bio-Safety Certificate from China's Ministry of Agriculture. Over the
years, Origin has established a robust biotechnology seed pipeline
including products with glyphosate tolerance and pest resistance
(Bt) traits. For further information, please visit the Company's
website at www.originagritech.com. The company also maintains a
twitter account for updating investors on company and industry
developments, which is @origin_agritech.
Forward-Looking Statements
This communication contains "forward-looking statements" as
defined in the federal securities laws, including Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements address expected future business and financial
performance and financial condition, and contain words like
"expect," "anticipate," "intend," "plan," "believe," "seek,"
"will," "would," "target," and similar expressions and variations.
Forward-looking statements address matters that are uncertain.
Forward-looking statements are not guarantees of future performance
and are based on assumptions and expectations which may not be
realized. They are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates but involve a number of
risks and uncertainties, many of which are beyond the company's
control. Some of the important factors that could cause the
company's actual results to differ materially from those discussed
in forward-looking statements are: failure to develop and market
new products and optimally manage product life cycles; ability to
respond to market acceptance, rules, regulations and policies
affecting our products; failure to appropriately manage process
safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; natural disasters
and weather events and patterns; ability to protect and enforce the
company's intellectual property rights; and separation of
underperforming or non-strategic assets or businesses. The company
undertakes no duty or obligation to publicly revise or update any
forward-looking statements as a result of future developments, or
new information or otherwise, should circumstances change, except
as otherwise required by securities and other applicable
laws. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and actual results may differ materially from
the anticipated results. You are urged to consider these factors
carefully in evaluating the forward-looking statements contained
herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by these cautionary statements.
Media Contact:
Joe Ramelli
VP of Business Development
Phone: 310-845-6238
Email: joe@originagritech.com
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SOURCE Origin Agritech Limited