BEIJING, April 11, 2023 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), announced today that its GMO corn hybrid is the one and only triple stacked trait corn selected for the national demo plot and is currently being grown there in anticipation of a 2023 commercial launch.
The hybrid has the approved triple stack traits BFL4-2, which is comprised of two different insect resistance genes, making it resistant to all the major corn pests, as well as an herbicide resistance gene. BFL4-2 is considered by many in the industry to be the 'crown jewel' of current seed traits in China as it is the only approved triple stack trait. Using its proprietary germplasm and transgenic technology, Origin collaborated on the development program for BFL4-2 and is the only company to have the stacked traits integrated into hybrid corn, giving it a several year head start over potential competition.
Origin filed for variety approval in March for four different varieties containing BFL4-2, including the Company's NEC corn, making this highly sought after variety even more desirable with dramatically increased yields. Given the typical timeline, approval for these varieties could happen this summer for a 2023 commercial launch.
"I believe that having this 'crown jewel' triple stacked trait integrated into four of our hybrid corn, along with our other traits in the approval process including our drought resistance gene, really puts us in the pole position in the race to commercialize GMO corn in China," said Origin Agritech's Chairman Gangchen Han. "I am very thankful that the MOA recognized the importance of our revolutionary new GMO corn varieties by including them in the demo plot. We have been preparing for the move to GMO positive for over a decade and I believe we are the best positioned company to capitalize on this multi-billion-dollar market opportunity."
Origin has published a new investor deck on its website, which can be downloaded at the bottom of the homepage at originagritech.com. We also added an option to sign up for investor email alerts in our investor relations section of our website.
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is a leading Chinese agricultural technology company. 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 www.originagritech.com. The company also maintains a twitter account for updating investors on company and industry developments, which is @origin_agritech.
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.
VP of Business Development
Source: Origin Agritech Limited Related Stocks: NASDAQ:SEED