DAVIS, Calif., Aug. 12, 2020 /PRNewswire/ -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced a collaboration with GoodMills Innovation, an affiliate of GoodMills Group, Europe's largest milling company, for commercialization of wheat with improved nutritional value across Europe.
"We are pleased to be working with GoodMills to introduce valued nutritional benefits to wheat-based products across Europe," said Matthew Plavan, president and CEO of Arcadia Biosciences. "GoodMills is an excellent partner with a strong focus on innovation. Together we aim to introduce uniquely healthy products for the retail, consumer and food service sectors in Europe, beginning in 2020."
The GoodWheat™ portfolio of good-for-you wheats includes attributes such as higher fiber, fewer calories and reduced allergenicity, as well as extended shelf life. The ingredients are the output of Arcadia's proprietary ArcaTech™ platform, which accelerates discovery, development and breeding of new wheat varieties using advanced non-GM techniques.
"GoodMills Innovation is recognized as one of the world's leading innovators in the area of grain-based ingredients that are both highly functional and nutritional," said Michael Gusko, head of innovation at GoodMills. "Recent market research highlights accelerated key consumer trends in 2020, including health and immunity enhancement, natural authentic cooking and sustainable plant protein. We see tremendous potential in Arcadia's portfolio of specialty wheats to help us meet these trends."
The European milling industry produces 35 million tons of flour on an annual basis with a turnover of €15 billion. Wheat contributes about 20 percent of the total dietary calories and proteins worldwide, according to a 2013 paper published in Food Security.
About Arcadia Biosciences, Inc. Arcadia Biosciences (Nasdaq: RKDA) is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company's GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. Arcadia's agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment. The company's GoodHemp™ seed catalog delivers genetically superior hemp seeds, clones, transplants, flower and extracts, applying the company's proprietary crop innovation technology, ArcaTech™, to an emerging crop. For more information, visit www.arcadiabio.com.
About The GoodMills Group The GoodMills Group GmbH is a holding company, managing seven country organizations with, in total, twenty-five flour mills. It is the leading milling company in Europe, processing 2.9 million tons of grain and generating €830 million turnover (2018). The holding company is based in Vienna, Austria, having its local Austrian subsidiary in nearby Schwechat. Further subsidiaries are located in Germany, Poland, Czech Republic, Hungary, Romania and Bulgaria. For more information, visit www.goodmills.com.
Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the commercial success of the intended collaboration between GoodMills and Arcadia. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia's and its partners' and affiliates' ability to develop and sell commercial products incorporating their traits, and complete the regulatory review process for such products; the successful negotiation and completion of definitive agreements with respect to the collaboration with GoodMills; the demand for our GoodWheat products in Europe; Arcadia's compliance with laws and regulations that impact Arcadia's business, and changes to such laws and regulations; the potential impact of COVID-19 on our business; and the company's future capital requirements and ability to satisfy its capital needs. Further information regarding these and other factors that could affect the company's financial results is included in filings the company makes with the Securities and Exchange Commission from time to time, including the section entitled "Risk Factors" and additional information set forth in its Form 10-K for the year ended December 31, 2019 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.