DAVIS, CALIF.--(BUSINESS WIRE)--
Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural technology company, today announced the official launch of its GoodWheat™ consumer brand, a non-transgenic (non-GM) platform that enables food manufacturers to differentiate their consumer-facing brands. The brand launch is a key element of the company’s go-to-market strategy to achieve greater value for its innovations by participating in downstream consumer revenue opportunities.
Arcadia designed the brand to make an immediate connection with consumers that products made with GoodWheat™ meet their demands for healthier wheat options that taste great. The GoodWheat™ brand encompasses Arcadia’s current and future non-GM wheat portfolio of high fiber Resistant Starch (RS) and Reduced Gluten wheat varieties, as well as future wheat innovations. In addition to the recently announced technology milestones in its RS wheat program and its commercial launch, Arcadia has made significant progress in its Reduced Gluten wheat program and remains on track for its commercial launch.
“Our GoodWheat™ brand is directly aligned with our strategic direction to deliver differentiating value to food manufacturers and consumers who want healthier products that taste great,” said Raj Ketkar, Arcadia’s president and CEO. “The launch of the GoodWheat™ brand follows a decade of research in wheat quality traits and is the direct result of the product strategy implemented last year.”
The global wheat flour market was approximately $200 billion in 2015 and is estimated to grow to $270 billion by 2022. In the United States, an average of 500 calories per day comes from wheat, and as a result, Arcadia believes its GoodWheat™ varieties have significant value opportunities. To capitalize on these opportunities, the company is building out its commercial team, including the retention of Ian Miller, an expert branded ingredient strategist who was the architect of the NutraSweet brand along with hundreds of other well-known consumer brands.
“The chance to make a positive healthy impact with an ingredient as ubiquitous as wheat doesn’t come around very often,” Miller said. “With GoodWheat™, Arcadia has an incredible opportunity to meet mainstream consumer demand and create measurable value for consumer food and beverage brands.”
Arcadia recently announced it has developed wheat varieties that contain up to 94 percent amylose, compared to 25 to 30 percent amylose in traditional wheat. Increased levels of amylose correspond to higher levels of resistant starch which has been proven to deliver significant health benefits. These same wheat varieties also deliver levels of total dietary fiber high enough to meet the US Food and Drug Administration’s threshold for a “Good Source” of fiber or “High in Fiber” designation on consumer packaging. Since Resistant Starch GoodWheat™ is naturally high in fiber, food companies can reduce the use of additional fiber sources in their formulations and simplify their ingredient labels. Arcadia is already working with a growing number of consumer packaged goods companies on new, healthier formulations of existing products using both refined and whole wheat Resistant Starch flour.
To meet demand for functional wheat ingredients, the company is also developing Reduced Gluten, and other soon-to-be announced improved wheat varieties that would be sold under the GoodWheat™ brand.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., Arcadia Biosciences (Nasdaq: RKDA) develops agricultural products that create added value for farmers, enhance human health and improve the environmental sustainability of agriculture. Arcadia’s nutrition traits and products are aimed at creating healthier ingredients and whole foods with lower production costs. Arcadia’s agronomic performance traits are aimed at making agricultural production more economically efficient and environmentally sound. For more information, visit www.arcadiabio.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 relating to the company's wheat traits, the announcement of improved wheat varieties, the value of our products, the ability of consumers and commercial partners to favorably differentiate our wheat traits from other available products, the impact of using our wheat traits on food formulations, and the commercialization of these traits. 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: the company’s and its partners’ and affiliates’ ability to identify and isolate desired traits; the demand for the company’s product’s, both from commercial partners and consumers; the company’s and its partners’ ability to develop commercial products incorporating its traits and complete the regulatory review process for such products; the company’s compliance with laws and regulations that impact the company’s business, and changes to such laws and regulations; the company’s future capital requirements and ability to satisfy its capital needs; and the other risks set forth in the company’s filings with the Securities and Exchange Commission from time to time, including the risks set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2016. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.
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