Origin Agritech Appoints Joe Ramelli to the Role of Vice President of Business Development

Rhea-AI Summary

Origin Agritech Ltd. (NASDAQ: SEED) announced the appointment of Joe Ramelli as Vice President of Business Development. Ramelli, who previously served as Interim CFO of ValenzaBio and CEO of Marina Biotech, has extensive experience in business development. This leadership change aligns with a promising landscape for GMO corn in China, where Origin's drought-resistant corn and nutrition-enhanced corn hybrids are positioned for success. The company plans to expand its production and supply chain capabilities to meet the growing market demand. Chairman Gangchen Han emphasized the vast potential within the agricultural sector, projecting a path towards significant growth.

Positive

• Appointment of Joe Ramelli as VP of Business Development, bringing extensive experience.
• Positive market conditions for GMO corn in China.
• Expansion of production capabilities for nutrition-enhanced corn.
• Potential to create a fully integrated corn feed/food supply chain in China, valued in tens of billions.

Negative

• None.

BEIJING, March 9, 2023 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, announced today that it has appointed Joe Ramelli to the role of Vice President of Business Development.

Ramelli brings a wealth of experience to this role having served as Interim CFO and one of the original team members for ValenzaBio, which was recently acquired by Acelyrin. Previously he was CEO of Marina Biotech where he closed several business development deals and put together a merger to remake the company. Ramelli also worked as an analyst at Eos Holdings, an investment fund that was an early and successful investor in Chinese companies listing in the United States. Prior to that he was an analyst for Robert W. Duggan & Associates. He has been our Director of Investor Relations since July of 2020.

Given the positive GMO corn approval policy by the Chinese government, Origin is well positioned in this potential multi-billion market. Origin's Bt/Gt corn hybrids which include triple stack traits, BFL4-2, are in the MOA's demo program and pilot seed production. The drought resistant trait, which is highly desirable given more erratic weather patterns in recent years, has successfully completed evaluation trial and an application has been filed for biosafety approval.

Our nutrition enhanced corn (NEC) hybrids have demonstrated great market value for the feed and food industries. Origin is expanding the production capability and building an NEC supply chain to meet the increased demand for the products.

"I am so thrilled to move into this business development role," said Joe Ramelli. "Before deciding to accept this role, I had the opportunity to hear Chairman Han's long-range plan for the company. I was really impressed with his vision and after hearing it, believe that we have a path to becoming a billion-dollar corporation. We also have an amazing opportunity to remake the feedstock supply chain for hogs with our nutritionally enhanced corn, or NEC."

"It is an ideal time to have Joe leading our business development," said Origin Agritech's Chairman Gangchen Han. "We not only have great opportunities in the GMO corn seed business, but also tremendous potential creating a fully integrated corn feed/food supply chain in China, which is a business opportunity in the tens of billions of dollars."

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.

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.

Joe Ramelli

VP of Business Development

Phone: 310-845-6238

Email: joe@originagritech.com

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SOURCE Origin Agritech Limited

FAQ

Who is Joe Ramelli and what is his role at Origin Agritech?

Joe Ramelli has been appointed as Vice President of Business Development at Origin Agritech, leveraging his extensive experience in business development and finance.

What are the prospects for Origin Agritech in the GMO corn market?

Origin Agritech is well-positioned in the GMO corn market, particularly with drought-resistant traits and nutrition-enhanced hybrids, supported by favorable Chinese government policies.

How does the appointment of Joe Ramelli affect Origin Agritech's future?

Ramelli's appointment is expected to drive business development and capitalize on new opportunities in the fast-growing agricultural technology sector.