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
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Arcadia Biosciences sells its non-GMO Resistant Starch Durum Wheat trait to Corteva Agriscience for $4M, retaining rights for its GoodWheat portfolio use. The deal includes 24 patents in 20 countries, advancing Arcadia's wheat technology monetization.
May 14, 2024 | 12:08 pm
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POSITIVE IMPACT
Corteva Agriscience acquires 24 RS Durum patents in 20 countries from Arcadia, enhancing its agricultural biotechnology portfolio and strengthening its position in the non-GMO wheat market.
Corteva's acquisition of the RS Durum Wheat patents from Arcadia represents an expansion of its agricultural biotechnology capabilities and its portfolio of non-GMO products. This strategic acquisition is likely to enhance Corteva's market position in the non-GMO wheat sector, potentially leading to increased market share and revenue in the long term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Arcadia Biosciences receives a $4M payment from Corteva for its non-GMO Wheat trait, retaining rights for its GoodWheat portfolio. This deal signifies a strategic monetization of its wheat technology.
The $4M payment from Corteva to Arcadia for the wheat trait represents a significant cash inflow for Arcadia, potentially improving its financial position. Retaining rights for its GoodWheat portfolio allows Arcadia to continue benefiting from its innovative wheat products, suggesting a positive outlook for its business model and future revenue streams.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90