Origin Agritech and Beijing Dabeinong Technology Group Sign Collaboration Agreement

Rhea-AI Summary

Origin Agritech Ltd. (NASDAQ: SEED) has entered a collaboration agreement with Beijing Dabeinong Technology Group to develop commercial GMO corn hybrids. This partnership aims to integrate DBN's approved traits with Origin's elite hybrids to enhance corn production for Chinese farmers. The agreement may also lead to joint efforts in GMO seed production and marketing. DBN is a major Chinese agriculture firm with significant market presence, while Origin boasts a substantial corn seed germplasm collection and a strong GMO pipeline.

Positive

• Collaboration with DBN for GMO corn hybrids could enhance product offerings.
• Access to DBN's approved traits and Origin's extensive germplasm.
• Potential for expanded collaboration in seed production and marketing.

Negative

• None.

BEIJING, March 25, 2021 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, today announced that it has entered into a collaboration agreement with Beijing Dabeinong Technology Group Co., Ltd. (DBN) for the development of commercial GMO corn hybrids.

Under the terms of the agreement, the parties will collaborate on research and development of new GMO corn hybrids by integrating DBN's approved traits and Origin's elite corn hybrids to develop potential commercial GMO hybrid corn for Chinese farmers. In the agreement, both parties have also agreed to explore potential collaborations in GMO corn seed production, marketing, and technical services in the future GMO corn market, which would allow the two firms to expand their collaboration over time.

DBN is a Chinese agriculture conglomerate with over 14,000 employees and has over $2 billion in annual sales. Beijing Dabeinong Biotechnology Co., Ltd. (DBNBC), which is DBN's holding subsidiary, is the leading biotechnology research entity in China. It received the approval of three Corn Bio-safety Certificates and one Soybean Bio-safety Certificate recently. Origin has built one of the largest corn seed germplasms among Chinese seed companies with over 200 thousand corn germplasm samples and breeding materials in its germplasm banks, which allows Origin to develop corn varieties for all major corn planting regions in China. Origin has also built its GMO corn pipeline in through 15 years of extensive research efforts and has several GMO traits under the safety approval process.

About Beijing Dabeinong Technology Group Co., Ltd

Beijing Dabeinong Technology Group Co., Ltd was founded in 1993 and headquartered in Beijing, principally engaged in the manufacture and distribution of feed products, and the cultivation and promotion of seed products. The Company's main products include livestock and poultry feeds, veterinary drug vaccines, boars, rice, corn and crop seeds, pesticide, fertilizers, agricultural internet and industrial chain science and technology financial services, among others. It distributes its products within the domestic Chinese market and to overseas markets. The company's stock is listed on the Shenzhen Stock Exchange with the symbol (SHE: 002385)

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: http://www.originseed.com.cn or http://www.originseed.com.cn/en/. The company also maintains a twitter account for updating investors on company and industry developments, which is @origin_agritech.

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.

Contact:

Joe Ramelli
Phone: (310) 845-6238
Email: joeramelli@originseed.com.cn

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SOURCE Origin Agritech Limited

FAQ

What is the collaboration agreement between Origin Agritech and DBN about?

The agreement focuses on developing commercial GMO corn hybrids by combining DBN's approved traits with Origin's elite corn hybrids.

When was the collaboration between Origin Agritech and DBN announced?

The collaboration was announced on March 25, 2021.

What are the potential benefits of the Origin Agritech and DBN collaboration?

The collaboration may enhance corn production for Chinese farmers and expand efforts in GMO seed production and marketing.

What does DBN bring to the collaboration with Origin Agritech?

DBN brings approved traits and significant expertise in the agricultural biotechnology sector.

How does Origin Agritech's germplasm contribute to the collaboration?

Origin's extensive germplasm collection allows for the development of corn varieties suited to major planting regions in China.