Yield10 Bioscience Achieves Key Milestones in Early Development Program in Corn to Evaluate Novel Traits
March 10 2020 - 8:30AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience
company, announced today that it achieved key milestones in an
early development program in corn to evaluate novel seed yield
traits. Corn is the highest value commercial crop grown in the
United States.
The Company’s corn program began in early 2019, centered around
the successful deployment of novel traits discovered by Yield10
into corn by a major third-party agriculture company partner. With
this phase of the program complete, Yield10 recently contracted an
additional third-party agriculture company to create homozygous and
hybrid corn lines, bulk-up seed, and conduct field testing of the
novel traits in corn to evaluate the impact on seed yield.
“Yield10’s corn development program continues to progress on
schedule, benefiting from access to critical industry expertise and
resources that will be crucial to the evaluation of our novel
traits in this high value crop,” said Kristi Snell, Ph.D., Chief
Science Officer of Yield10 Bioscience. “The utilization of another
third-party agriculture company for creating and field testing
hybrid lines will provide our scientific team with field data on
our traits deployed in elite corn lines.”
“The completed deployment of our traits in corn and the start of
the next phase of development which will include field tests, are
key milestones for Yield10 as it firmly places us further along the
path toward licensing and commercialization of our novel yield
traits in this important crop,” said Oliver Peoples, Ph.D., Chief
Executive Officer of Yield10 Bioscience. “Further, we continue to
establish working relationships with major agricultural companies
whose feedback and expertise provide us greater context and insight
into how to commercialize this program. We believe success in our
corn program would further demonstrate the versatility of our GRAIN
platform, positioning us for commercial partnerships and licensing
opportunities.”
The yield traits in the corn development program include C3003,
C3004, and C3011, as well as the transcription factors C4001,
C4002, and C4003.
Corn is planted on approximately 90 million acres and is the
highest value crop in the United States for seed company revenue.
Harvests from recent years have reached approximately 15 billion
bushels, worth approximately $50 billion. Improving seed yield in
corn would increase revenue for growers and contribute to global
food security.
About Yield10
Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company
developing crop innovations to improve crop yields and enhance
sustainable global food security. The Company utilizes its
proprietary “GRAIN“ (Gene Ranking Artificial Intelligence Network)
gene discovery platform to identify gene targets to improve yield
performance and value in major commercial food and feed crops.
Yield10 uses its Camelina oilseed platform to rapidly evaluate and
field test new trait leads enabling the translation of promising
new traits into the major commercial crops. As a path toward
commercialization, Yield10 is pursuing a partnering approach with
agricultural companies to drive new traits into development in
crops such as canola, soybean and corn. The Company is also
developing Camelina as a platform crop for producing nutritional
oils and specialty products such as PHA biomaterials for use in
water treatment applications. Yield10 is headquartered in Woburn,
MA and has an Oilseeds Center of Excellence in Saskatoon,
Canada.
For more information about the company, please visit
www.yield10bio.com, or follow the Company on Twitter, Facebook and
LinkedIn.
(YTEN-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements in this release do not constitute guarantees of future
performance. Investors are cautioned that statements in this press
release which are not strictly historical, including, without
limitation, statements regarding the Company's intentions with
regard to achieving the research objectives in the corn program,
including its ability to produce new varieties of corn that are
higher yielding, continuing to generate key proof points in crops
of high commercial interest, the potential impact of results in the
corn program on prospects for commercial partnerships and licensing
opportunities, the potential impact of an improvement in seed yield
in corn, and the timing for completion of the key steps in the
early development program in corn, constitute forward-looking
statements. Such forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results to
differ materially from those anticipated, including the risks and
uncertainties detailed in Yield10 Bioscience's filings with the
Securities and Exchange Commission. Yield10 assumes no obligation
to update any forward-looking information contained in this press
release or with respect to the announcements described herein.
Contacts: Yield10
Bioscience:Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations Contact: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries:Eric Fischgrund,
eric@fischtankpr.comFischTank Marketing and PR
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