Cibus Applauds the Genetic Technology (Precision Breeding) Act 2023 Passed in the United Kingdom
June 15 2023 - 8:45AM
Cibus, Inc. (Nasdaq: CBUS), a leading agricultural
technology company that develops and licenses plant traits to seed
companies for royalties, welcomed the passage of the Genetic
Technology (Precision Breeding) Act 2023 (the “Act”) into law in
the United Kingdom. The Act removes plants produced through
precision breeding technologies from regulatory requirements
applicable in England to the environmental release and marketing of
GMOs (Genetically Modified Organisms). It is expected to enable the
development and marketing of gene edited crops in England. The
Act introduces a simplified regulatory system for gene edited
or ‘precision bred’ crops, which have been developed with targeted
genetic changes that could have arisen through conventional
breeding or other natural processes. The passing of the Act aligns
England’s regulatory path for gene editing technologies with other
countries that have enacted similar legislation that regulate
traits from Cibus’ gene editing platform on a similar basis as
traits developed using conventional breeding technologies.
“Cibus’ RTDS® technology platform is designed
to introduce traits into plants that could have occurred naturally,
and can develop these traits years to decades faster than would
have been possible through conventional breeding,” stated Greg
Gocal, PhD, Co-Founder, Executive Vice President and Chief
Scientific Officer at Cibus. “This new law in the UK is an
important milestone in developments globally to align regulations
of new technologies like RTDS® on a similar basis
as conventional breeding.”
The Act is a major accomplishment of the Department for
Environment, Food and Rural Affairs (DEFRA) in its efforts to
unlock modern breeding technologies to improve food security,
reduce pesticide use, and enhance climate-resilience in crops.
DEFRA has been commended for enabling the agriculture industry in
England to realize the benefits of gene editing to improve farming
productivity and sustainability. In addition to the Act’s
passage, paving the way for commercialization of gene edited crops,
DEFRA has introduced new legislation to simplify research and
development with gene edited crops. The new rules would enable
field trials, which play a key role in trait development and are
accordingly linked to improved crops better able to withstand
changing environments and with reduced inputs such as fertilizers,
fungicides, herbicides and pesticides. Productivity Traits such as
these are the primary target of Cibus’ gene editing efforts.
“Field trials are a critical step in the development and
validation of any new trait,” stated Peter Beetham, PhD, President,
Co-Founder and Chief Operating Officer of Cibus. “The new rules
proposed by DEFRA authorizing field trials in the UK mark progress
towards similar legislation regarding gene edited traits for crops
grown in the European market.”
About DEFRAThe Department for Environment, Food
and Rural Affairs (DEFRA) is responsible for environmental
protection, food production and standards, agriculture, fisheries
and rural communities in the United Kingdom. DEFRA also represents
the United Kingdom on agricultural, fisheries and environmental
matters in international negotiations on sustainable
development.
About RTDSThe Rapid Trait
Development System®, or RTDS, is Cibus’ patented
gene editing technology platform. It is the core technology
platform for Cibus’ Trait Machine™, the first standardized
end-to-end semi-automated crop specific gene editing system that
directly edits a seed company’s elite germplasm. The
proprietary technologies integrate crop specific cell biology
platforms with a series of gene editing technologies to enable a
system of end-to-end crop specific precision breeding. The traits
from the Trait Machine are indistinguishable from traits developed
using conventional breeding or from nature.
Cibus believes that RTDS and the Trait Machine
represent the technological breakthrough in plant breeding that is
the ultimate promise of plant gene editing allowing the ability to
change the scale and range of possible genetic solutions from
breeding and with it, to develop desired characteristics or traits
needed for greater farming sustainability and food security with
greater speed and accuracy.
About CibusCibus is a leading agricultural
technology company that develops and licenses plant traits to seed
companies for royalties. Cibus is a leader in the new era of
gene-edited trait development, where plant traits (or specific
genetic characteristics) that are indistinguishable from traits
developed using traditional breeding are now created using gene
editing. A key element of Cibus’ technology breakthrough is its
patented RTDS® technology platform: the Trait
Machine™ - the industry’s first semi-automated stand-alone trait
production facility. Cibus’ Trait Machine™ materially changes the
speed, breadth, and scale of trait development. This breakthrough
is central to Cibus’ vision for the Future of Breeding: “High
Throughput Gene Editing Systems operating as an extension of seed
company breeding programs”. The ability to develop complex traits
at a fraction of the time and cost of conventional breeding will be
critical for addressing the sustainability challenges
presented by climate change.
Forward Looking StatementsThis press release
contains “forward-looking statements” within the meaning of
applicable securities laws, including The Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of present or historical fact included herein, including
statements regarding the benefits of the Act, Cibus’ operational
performance, and Cibus’ strategy, future operations, prospects and
plans, are forward-looking statements. Forward-looking statements
may be identified by words such as “anticipate,” “believe,”
“intend”, “expect,” “plan,” “scheduled,” “could,” “would” and
“will,” or the negative of these and similar expressions.
These forward-looking statements are based on the current
expectations and assumptions of Cibus’ management about future
events, which are based on currently available information. These
forward-looking statements are subject to numerous risks and
uncertainties, many of which are difficult to predict and beyond
the control of Cibus. There are many factors that could cause
Cibus’ actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by forward-looking statements, including factors related to: (i)
risks associated with the possible failure to realize certain
anticipated benefits of the transactions contemplated by the merger
(the “Transactions”), including with respect to future financial
and operating results; (ii) the effect of the completion of the
Transactions on Cibus’ business relationships, operating results
and business generally; (iii) the outcome of any litigation related
to the merger agreement or Transactions; (iv) competitive responses
to the Transactions and changes in expected or existing
competition; (v) challenges to Cibus’ intellectual property
protection and unexpected costs associated with defending Cibus’
intellectual property rights; (vi) increased or unanticipated time
and resources required for Cibus’ platform or trait product
development efforts; (vii) Cibus’ reliance on third parties in
connection with its development activities; (viii) Cibus’ ability
to effectively license its productivity traits and sustainable
ingredient products; (ix) the recognition of value in Cibus’
products by farmers, and the ability of farmers and processors to
work effectively with crops containing Cibus’ traits; (x) Cibus’
ability to produce high-quality plants and seeds cost effectively
on a large scale; (xi) Cibus’ need for additional funding to
finance its activities and challenges in obtaining additional
capital on acceptable terms, or at all; (xii) Cibus’ dependence on
distributions from Cibus Global, LLC to pay taxes and cover Cibus’
corporate and overhead expenses; (xiii) regulatory developments
that disfavor or impose significant burdens on gene-editing
processes or products; (xiv) Cibus’ ability to achieve commercial
success; (xv) commodity prices and other market risks facing the
agricultural sector; and (xvi) technological developments that
could render Cibus’ technologies obsolete. In addition to these
factors, other known and unknown risks and uncertainties may
adversely affect such forward-looking statements and cause Cibus’
actual results, performance or achievements to be materially
different from those expressed or implied by the forward-looking
statements. Should one or more of these risks or uncertainties
occur, or should underlying assumptions prove incorrect, actual
results and plans could differ materially from those expressed in
any forward-looking statements. In addition, the forward-looking
statements included in this press release represent Cibus’ views as
of the date hereof. Cibus specifically disclaims any obligation to
update such forward-looking statements in the future, except as
required under applicable law. These forward-looking statements
should not be relied upon as representing Cibus’ views as of any
date subsequent to the date hereof.
CIBUS CONTACTS:
INVESTOR RELATIONSKaren
Troeberktroeber@cibus.com858-450-2636
MEDIA RELATIONSTheodore Lowentlowen@cibus.com914-343-6794
Colin Sanfordcolin@bioscribe.com203-918-4347
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