AquaBounty Cleared To Produce Salmon Eggs In Canada For Commercial Purposes

MAYNARD, Mass., Nov. 25, 2013 /PRNewswire/ -- AquaBounty Technologies, Inc. (AIM: ABTX), a biotechnology company focused on enhancing productivity in the aquaculture market and a majority owned subsidiary of Intrexon Corporation (NYSE: XON), announces that Environment Canada, the agency of the Government of Canada with responsibility for regulating environmental policies and issues, has decided that AquAdvantage® Salmon ("AAS") is not harmful to the environment or human health when produced in contained facilities.  The publication of the Significant New Activity Notice (http://gazette.gc.ca/rp-pr/p1/2013/2013-11-23/html/notice-avis-eng.html#d106) recognizes that our hatchery, which produces sterile, all-female eggs, is no longer solely a research facility but can produce eggs on a commercial scale without harm to the environment or human health.

"We are pleased to note that, after a rigorous examination of our hatchery facility and the Standard Operating Procedures used to produce AAS eggs, Environment Canada is satisfied that we can responsibly produce our sterile, all-female eggs on a commercial scale," said Ron Stotish, AquaBounty CEO. "This is a significant milestone in our efforts to make AquAdvantage® Salmon available for commercial production. However, our eggs and fish will not be available for sale until they are approved by the relevant national regulatory bodies. When these approvals are in place, we look forward to demonstrating the value of AAS for a land-based and environmentally-sustainable production system."

Environment Canada made its conclusion following a risk assessment conducted by Fisheries and Oceans Canada involving a panel of independent scientific experts knowledgeable in the fields of transgenics and fish containment technology.

The publication describes conditions that would be regarded as Significant New Activities (SNAcs) with regard to AquAdvantage® Salmon and the measures Environment Canada would expect to evaluate if those activities were proposed. AquaBounty confirms that, currently, all anticipated activities fall well within the scope of the approval given by Environment Canada.

About AquaBounty Technologies

AquaBounty Technologies is a biotechnology company focused on improving productivity in commercial aquaculture, a $100 billion industry and the fastest growing segment of the worldwide food industry. The company's objective is the application of biotechnology to ensure the availability of high quality seafood to meet global consumer demand. The company is developing products to address critical production constraints in the most popular farmed species, focusing initially on salmon, trout and tilapia.  Its AquAdvantage® fish program is based upon a single, specific molecular modification in fish that results in more rapid growth in early development.

Safe Harbor Statement

Some of the statements made in this press release are forward-looking statements.  These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business.  Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.

SOURCE Aqua Bounty Technologies