MINNEAPOLIS & ST. PAUL, Minn. & SACRAMENTO, Calif.--(BUSINESS WIRE)--Calyxt, Inc. (NASDAQ:CLXT), a consumer-centric, food- and agriculture-focused company, and S&W Seed Company (NASDAQ:SANW), a global leader in the alfalfa seed industry, today announced that the first of its two alfalfa product candidates has been designated as a non-regulated article under “Am I Regulated?” Process by Biotechnology Regulatory Services of the Animal and Plant Health Inspection Service (APHIS), an agency of the USDA.
With this notification by the USDA, the improved quality alfalfa is the sixth Calyxt product candidate, developed using Calyxt’s proprietary gene editing technology TALEN®, to be confirmed as a non-regulated article by the USDA including its high oleic soybean, high oleic / low linolenic soybean, powdery mildew resistant wheat, cold storable potato and reduced browning potato.
“The accomplishment represents another milestone for Calyxt in our efforts to develop and commercialize innovative agriculturally advantageous traits for the food and agriculture industries,” said Federico Tripodi, CEO of Calyxt. “Calyxt’s innovative technology and partnership with S&W Seed Company is crucial in the development of the alfalfa pipeline. We look forward to our continued partnership with S&W as we advance this product candidate to the market.”
Mark Wong, CEO of S&W Seed Company, commented, “S&W is proud to be on the leading edge of new breeding technologies with this collaboration with Calyxt. We are excited to commercialize this leading-edge technology, with this being just the first in a pipeline of products for the alfalfa seed market.”
The improved quality alfalfa product is the first ever alfalfa product to receive the non-regulated distinction from the USDA. The collaboration between Calyxt and S&W Seed Company is focused on providing enhanced traits in alfalfa seed varieties that can drive improved productivity, while decreasing input costs to meet the growing global demand for higher quality alfalfa products.
About Calyxt
Calyxt, Inc. is a consumer-centric, food- and
agriculture-focused company. By combining its leading gene-editing
technology and technical expertise with its innovative commercial
strategy, Calyxt is pioneering a paradigm shift to deliver healthier
food ingredients, such as healthier oils and high fiber wheat, for
consumers and agriculturally advantageous crop traits, such as herbicide
tolerance, for farmers. Calyxt is located in Minneapolis-St. Paul, MN,
and is listed on the Nasdaq market (ticker: CLXT).
For further information please visit our website: www.calyxt.com
Calyxt™
and the corporate logo are trademarks owned by Calyxt, Inc.
TALEN®
is a registered trademark owned by the Cellectis Group.
About S&W Seed Company
Founded in 1980, S&W Seed Company
is a global agricultural Company, headquartered in the San Joaquin
Valley of California. The Company’s vision is to be the world’s
preferred proprietary seed Company which supplies a range of forage and
specialty crop products that supports the growing global demand for
animal proteins and healthier consumer diets. The Company is a global
leader in alfalfa seed, with significant research and development,
production and distribution capabilities. S&W’s capabilities span the
world’s alfalfa seed production regions, with operations in the Western
United States, including the San Joaquin and Imperial Valleys of
California, Australia, and Canada, and S&W sells its seed products in
more than 30 countries around the globe. The Company also provides
hybrid sorghum and sunflower, and is utilizing its research and breeding
expertise to develop and produce stevia, the all-natural, zero calorie
sweetener for the food and beverage industry. For more information,
please visit www.swseedco.com.
Calyxt Forward-Looking Statements
This communication
contains “forward-looking statements” within the meaning of the safe
harbor provisions of the U.S. Private Securities Litigation Reform Act
of 1995. In some cases, you can identify these statements by
forward-looking words such as “may,” “might,” “will,” “should,”
“expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“potential” or “continue,” the negative of these terms and other
comparable terminology. These forward-looking statements, which are
subject to risks, uncertainties and assumptions about us, may include
projections of our future financial performance, our anticipated growth
strategies and anticipated trends in our business. These statements are
only predictions based on our current expectations and projections about
future events. There are important factors that could cause our actual
results, level of activity, performance or achievements to differ
materially from the results, level of activity, performance or
achievements expressed or implied by the forward-looking statements,
including those factors discussed under the caption entitled “Risk
Factors” in our registration statement on Form S-1, along with our other
filings with the U.S. Securities and Exchange Commission. We do not
assume any obligation to publicly provide revisions or updates to any
forward-looking statements, whether as a result of new information,
future developments or otherwise, should circumstances change, except as
otherwise required by securities and other applicable laws.
S&W Forward-Looking Statements
This release contains
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended and such forward-looking statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements" describe
future expectations, plans, results, or strategies and are generally
preceded by words such as "may," "future," "plan" or "planned," "will"
or "should," "expected," "anticipates," "draft," "eventually" or
"projected." Forward-looking statements in this release include
statements regarding future research and development activities, product
development and sales of newly-developed products, among others. You are
cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results
to differ materially from those projected in the forward-looking
statements, including the risk that we may not achieve our expected
results, risks associated with our distributors' abilities to
effectively distribute and market our products, risks associated with
our ability to successfully commercialize, optimize and diversify our
business, and risks related to factors beyond our control that may
impact market prices or demand for our products. These and other risks
are identified in our filings with the Securities and Exchange
Commission, including without limitation our Annual Report on Form 10-K
for the fiscal year ended June 30, 2017 and in our other filings
subsequent made with the Securities and Exchange Commission. All
forward-looking statements contained in this press release speak only as
of the date on which they were made and are based on management's
assumptions and estimates as of such date. The Company does not
undertake any obligation to publicly update any forward-looking
statements, whether as a result of the receipt of new information, the
occurrence of future events or otherwise.
