RCS - Agronomics Limited - Portfolio Company Update: Tropic Biosciences

AgronomicsAnnouncement

11/11/2021 07:00

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RNS Number : 0032S  Agronomics Limited  11 November 2021

11 November 2021

 

Agronomics Limited (https://agronomics.im/)

("Agronomics" or the "Company")

 

Portfolio Company Tropic Biosciences Obtains a Positive Response From
USDA-APHIS on Product Developed Using its GEiGS Technology

 

Agronomics, the leading listed company focused on the field of cellular
agriculture, is pleased to announce that portfolio company Tropic Biosciences
has received confirmation that its potato product, developed using its
proprietary Gene Editing Induced Gene Silencing ("GEiGS") technology, is
exempt from regulation by the United States Department of Agriculture Animal
& Plant Inspection Service (USDA-APHIS"). This confirmation ensures that
its gene-edited potatoes, resistant to browning, will not face regulatory
barriers on its way to market, and is a promising indicator for its other
products such as coffee, rice and bananas. Agronomics holds an equity
ownership of 2.95% following participation in Tropic's Series B round in March
2020.

 

The full announcement is set out below with no material changes or
adjustments:

 

Tropic Biosciences obtains positive response from USDA-APHIS on regulatory
status of a product developed using its GEiGS® (Gene Editing Induced Gene
Silencing) technology

 

Tropic Biosciences ("Tropic"), a pioneering agricultural-biotechnology company
dedicated to the development of high-performance tropical crops, announced
today that it has received confirmation that potatoes with reduced browning,
developed by GEiGS® -mediated silencing of polyphenol oxidase-5 (Ppo5)
transcripts, were determined to be exempted from regulation by the USDA.
Tropic made a submission to the USDA requesting confirmation of regulatory
status for this product in May 2021. The USDA-APHIS response indicated that
the plant lines do not meet the definition of a regulated article under 7 CFR
Part 340 regulations. Tropic's submission along with the USDA-APHIS BRS
response is posted on the USDA's website
(https://www.aphis.usda.gov/aphis/ourfocus/biotechnology/permits-notifications-petitions/confirmations/responses/cr-table)
.

 

"This is the first regulatory assessment of a product based on our proprietary
GEiGS® technology and the confirmation that this product is not regulated by
USDA is an important step in bringing our crop products to market", said Gilad
Gershon, CEO of Tropic Biosciences.

 

Tropic Biosciences is using GEiGS® to develop valuable traits in bananas,
coffee and rice. As an

example, GEiGS® enables Tropic Biosciences to develop novel banana varieties
that are resistant to Panama Disease (TR4), a devastating fungal disease that
threatens global banana production. Tropic Biosciences has also entered into
licensing agreements with multiple leading global agribusinesses enabling them
to use the platform to develop disease resistance, quality and welfare traits
across crop, livestock and aquaculture species.

 

About Tropic Biosciences (https://www.tropicbioscience.com/)

Tropic Biosciences is one of the leading agricultural gene-editing companies
globally, and focuses on the development and commercialization of
high-performing varieties of tropical crops, namely coffee, bananas and rice.
It employs over 110 industry-leading professionals and is headquartered at the
renowned Norwich Research Park.

 

About Agronomics (https://agronomics.im/)

Agronomics is a leading listed alternative proteins company with a focus on
cellular agriculture and cultivated meat. The Company has established a
portfolio of 17 companies at the Seed to Series B stage in this rapidly
advancing sector. It seeks to secure minority stakes in companies owning
technologies with defensible intellectual property that offer new ways of
producing food and materials with a focus on products historically derived
from animals. These technologies are driving a major disruption in
agriculture, offering solutions to improve sustainability, as well as
addressing human health, animal welfare and environmental damage. This
disruption will decouple supply chains from the environment and animals, as
well as being fundamental to feeding the world's expanding population. A full
list of Agronomics' portfolio companies is available at https://agronomics.im/
(https://agronomics.im/) .

 

 

For further information please contact:

 

 Agronomics           Beaumont              Cenkos                Peterhouse Capital

 Limited              Cornish Limited       Securities Plc        Limited               TB Cardew
 The Company          Nomad                 Joint Broker          Joint Broker          Public Relations
 Richard Reed         Roland Cornish        Giles Balleny         Lucy Williams         Ed Orlebar

 Denham Eke           James Biddle          Michael Johnson       Charles Goodfellow    Joe McGregor
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 397 8900  +44 (0) 207 469 0936  +44 (0) 20 7930 0777

 info@agronomics.im                                                                     +44 (0) 7738 724 630

                                                                                        agronomics@tbcardew.com

 

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