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Origin Agritech Entered Collaboration Agreement with Biotechnology Research Institute of Chinese Academy of Agriculture Sciences to Speed up Commercialization of GM Traits in China


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Origin Agritech Limited

Aug 27, 2019, 08:00 ET

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BEIJING, Aug. 27, 2019 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology and rural e-commerce company, today announced that the Company has entered into a collaboration agreement with Biotechnology Research Institute (BRI) of Chinese Academy of Agriculture Sciences (CAAS) to speed up the commercialization of genetically modified insect resistance and glyphosate tolerance corn traits in China. 

CAAS is a national, integrative agricultural scientific research organization in China with responsibility for carrying out both basic and applied research, as well as research into new technologies impacting agriculture. BRI of CAAS is the only public, non-profit institution focusing on the frontiers of both basic and applied research of agro-biotechnology in China. The Key Laboratory of Agricultural Genomics, Ministry of Agriculture (MOA) and the Center for Biosafety Assessment of GMOs are affiliated with BRI.

Over the years, Origin has been cooperating with CAAS in developing various GM traits, including a double stacked corn trait for insect resistance and glyphosate tolerance traits. The double stacked corn trait protects corn from both insect damage and glyphosate spray, and hence can improve crop yield significantly. This double stacked trait has passed most of the multi-phase biosafety approval processes and is in the final stage of commercialization approval for biosafety certification.

The new collaboration agreement deepens our cooperation with BRI and mainly focuses on related research for commercialization of the double stacked corn trait of insect resistance and glyphosate tolerance. Origin and BRI will join together to apply for government sponsored funds and share research facilities and capabilities, as well as the potential benefits. Both Origin and BRI will also work together to promote the commercialization of the stacked corn trait, which Origin has been developing based on the fundamental research from CAAS.

According to the "Thirteenth Five Year State Science and Technology Innovative Plan" published by the Chinese government in 2016, the Chinese government has set a target for the commercialization of corn seed GMO technologies during the central government's Thirteenth Five-Year Plan, which ends in 2020.

About Origin Agritech Limited

Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading agricultural technology and a rural social e-commerce company, expanding in mid-2018 from crop seed breeding and genetic improvement business to be a leading technology developer in new rural e-commerce platform and Blockchain technologies. In crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits. For further information, please visit the Company's website at: http://www.originseed.com.cn or http://www.originseed.com.cn/en/.

Forward-Looking Statements

This communication contains "forward-looking statements" as defined in the federal securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements address expected future business and financial performance and financial condition, and contain words like "expect," "anticipate," "intend," "plan," "believe," "seek," "will," "would," "target," and similar expressions and variations. Forward-looking statements address matters that are uncertain. Forward-looking statements are not guarantees of future performance and are based on assumptions and expectations which may not be realized. They are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates but involve a number of risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those discussed in forward-looking statements are: failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting our products; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; natural disasters and weather events and patterns; ability to protect and enforce the company's intellectual property rights; and separation of underperforming or non-strategic assets or businesses. The company undertakes no duty or obligation to publicly revise or update any forward-looking statements as a result of future developments, or new information or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.

SOURCE Origin Agritech Limited

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