Jim Collins to Join Cibus Board of Directors
September 18 2023 - 5:23PM
Cibus, Inc. (NASDAQ: CBUS), a global leader in Gene Editing in
agriculture and the development of Productivity Traits in plants
that directly impact farming productivity and profitability
announced that its Board of Directors has elected Jim Collins,
former CEO of Corteva, to the Board.
“Jim brings to Cibus immense knowledge and strategic vision on
the direction of the future role and use of Gene Editing in
agriculture,” said Mark Finn, Chair of the Audit Committee. “Jim’s
experience leading one of the largest agricultural and seed
companies will give us important leadership as to where gene
editing can have the greatest global impact in supporting farmers
in increasing the profitability and sustainability of the major
crops by addressing critical challenge areas for productivity such
as diseases and pests.”
“His insights and experience in developing and launching
industry-changing innovative technologies are invaluable to Cibus,”
says Rory Riggs, co-founder, Chairman and CEO of Cibus.
“Importantly, Jim brings to our efforts a focus on
commercialization and productivity that is critical to our
organization and its success as it begins commercializing its
initial traits.”
“I’m excited to join the Cibus Board as it brings gene editing
technology to trait development that can change both the speed to
market and the range of possible targets to address farming
productivity and profitability. It aligns with my passion and
career-long focus on improving the resiliency and sustainability of
agriculture,” says Mr. Collins. “I am impressed with Cibus’
leadership team and believe wholeheartedly in the mission and
potential of the organization and technology.”
From 2019 to 2021, Mr. Collins was CEO and a member of the Board
of Corteva Agriscience, a Fortune 200 agricultural and seed company
with 22,000 employees around the globe. During that time, he
spearheaded many initiatives to enhance sustainability, focusing on
helping farmers lead with new practices and innovations. Before
that, he served in various leadership positions in the agriculture
business at Corteva’s predecessors, DowDuPont and DuPont.
Mr. Collins serves on the Board of Archer Daniels Midland
Company (NYSE: ADM), as Chair of the Board of Directors of Vestaron
Corporation, and as an advisor to the University of Delaware’s
College of Agriculture and Natural Resources. He previously served
on the Board of CropLife International, the advisory board for the
University of Delaware’s Alfred Lerner College of Business &
Economics, and the Board of Trustees of the Hagley Museum and
Library. He was also a member of the US-China Business Council and
the Business Roundtable, where he served on the Special Committee
on Equity and Racial Justice and the Climate Policy and Trade
Committees. Mr. Collins was also a University of Tennessee Lone
Oaks Farm Advisory Council member and served on the Board of
Trustees of Longwood Botanical Gardens. Mr. Collins holds a
bachelor’s degree in chemical engineering from Christian Brothers
University in Tennessee and an MBA from the University of
Delaware.
About CibusCibus is a leader in Gene Edited
Productivity traits that address critical productivity and
sustainability challenges for farmers such as diseases and pests
which the United Nations estimates cost the global economy
approximately $300 Billion annually. Cibus is not a seed company.
It is a technology company that uses gene editing to develop and
license traits to seed companies in exchange for royalties on seed
sales. Cibus’ focus is productivity traits for the major global
crops such as Canola, Rice, Soybean, Corn, and Wheat. Cibus is the
technology leader in high throughput gene editing technology that
enables Cibus to develop and commercialize plant traits at a
fraction of the time and cost of conventional breeding. Using its
Trait Machine process, Cibus has developed a pipeline of five
productivity traits including important traits for pod shatter
reduction, Sclerotinia resistance and weed management. Its initial
traits for Pod Shatter Reduction and weed management are developed
and in collaborations with leading seed companies. Its other
pipeline traits including Sclerotinia Resistance are in advanced
greenhouse and field trial stages.
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 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. Cibus’ actual results, level of activity,
performance, or achievements could be materially different than
those expressed, implied, or anticipated by forward-looking
statements due to a variety of factors, including, but not limited
to: risks associated with the possible failure to realize certain
anticipated benefits of the merger between Cibus Global, LLC and
Calyxt, Inc. (Merger Transactions); the effect of the completion of
the Merger Transactions on Cibus’ business relationships, operating
results, and business generally; the outcome of any litigation
related to the Merger Transactions; changes in expected or existing
competition; challenges to Cibus’ intellectual property protection
and unexpected costs associated with defending intellectual
property rights; increased or unanticipated time and resources
required for Cibus’ platform or trait product development efforts;
Cibus’ reliance on third parties in connection with its development
activities; challenges associated with Cibus’ ability to
effectively license its productivity traits and sustainable
ingredient products; the risk that farmers do not recognize the
value in germplasm containing Cibus’ traits or that farmers and
processors fail to work effectively with crops containing Cibus’
traits; challenges that arise in respect of Cibus’ production of
high-quality plants and seeds cost effectively on a large scale;
Cibus’ need for additional funding to finance its activities and
challenges in obtaining additional capital on acceptable terms, or
at all; Cibus’ dependence on distributions from Cibus Global, LLC
to pay taxes and cover its corporate and overhead expenses;
regulatory developments that disfavor or impose significant burdens
on gene-editing processes or products; Cibus’ ability to achieve
commercial success; commodity prices and other market risks facing
the agricultural sector; technological developments that could
render Cibus’ technologies obsolete; changes in macroeconomic and
market conditions, including inflation, supply chain constraints,
and rising interest rates; dislocations in the capital markets and
challenges in accessing liquidity and the impact of such liquidity
challenges on Cibus’ ability to execute on its business plan; and
other important factors discussed in “Risk Factors of Cibus, Inc.”
filed as Exhibit 99.3 with Cibus’ Current Report on Form 8-K, which
was filed with the Securities and Exchange Commission (the “SEC”)
on June 1, 2023, and any additional “Risk Factors” identified in
Cibus’ subsequent reports on Forms 10-Q and 8-K filed with the SEC.
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. Cibus’ assessment of the period of time through which
its financial resources will be adequate to support its operations
is a forward-looking statement and involves such risks and
uncertainties. Accordingly, the Company could use its available
capital resources sooner than it currently expects.
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 Troeber
858-450-2636
Media RelationsTheodore Lowen tlowen@cibus.com
914-343-6794
Colin Sanford colin@bioscribe.com 203-918-4347
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