Arcadia Biosciences Sells Its Non-GMO Resistant Starch Durum Wheat Trait To Longtime Partner Corteva Agriscience For $4M And Right To Continue Using Resistant Starch Durum In Its GoodWheat Portfolio Of Wheat Products, Including Pastas And Mac & Cheese; Corteva Will Acquire 24 Rs Durum Patents In 20 Countries
-- Company advances monetization of wheat technology with one-time payment of $4 million --
Arcadia Biosciences, Inc.® (NASDAQ:RKDA), a producer and marketer of innovative, plant-based health and wellness products, announced today it has sold its non-GMO Resistant Starch (RS) Durum Wheat trait to longtime partner Corteva Agriscience. Under the terms of the agreement, Arcadia will receive $4 million and retain the right to continue using Resistant Starch Durum in its GoodWheat portfolio of wheat products, including pastas and mac & cheese. Corteva will acquire 24 RS Durum patents in 20 countries.
Arcadia and Corteva began collaborating in 2017 when they signed an agreement to develop and commercialize RS Durum in North America. Since then, Corteva has been introgressing the RS Durum trait into elite germplasm lines in the company's pipeline.