Origin Agritech Ltd Updates on Progress of GMO Corn Hybrid Trials
Origin Agritech Ltd. (NASDAQ: SEED) announced significant progress in the official government trials of GMO corn hybrid varieties. One herbicide-resistant variety has completed its final trial and awaits approval, while five double-stack GMO corn hybrids have moved to the second-year trials. Additionally, three new hybrids are set for first-year trials next year, totaling 27 hybrids at various evaluation stages. Thirteen GMO Phytase varieties are also pending final approval. The company emphasizes the importance of these developments for future market readiness.
- Completion of final trials for one herbicide-resistant GMO corn variety, pending approval.
- Five double-stack GMO corn hybrids advanced to second-year trials.
- Total of 27 elite hybrids are in various stages of evaluation.
- None.
BEIJING, May 11, 2021 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, today announced progresses in official government trial of GMO corn hybrid varieties.
One herbicide resistant (Gt) variety has completed its final trial and is pending final approval. Under the agricultural regulations in China, both the GMO traits and the hybrid corn varieties require government approval before the seed can be sold commercially. In general, the government hybrid variety trials take two years to completion.
In addition, five of Origin's insect resistant and herbicide resistant (Bt/Gt) double stack GMO corn hybrid varieties have advanced to the second-year variety trials. Three more new elite Bt/Gt corn hybrids will join the first-year government variety trials next year. In total, 27 elite commercial hybrids have been converted to GMO corn hybrids in different stages of evaluation trials. Furthermore, thirteen GMO Phytase have completed the trials and are pending final approval.
Dr. Gengchen Han, Origin's Chairman, said, "We are very excited by the progresses we are making in the approval process of our hybrid corn varieties. This further shows the importance of our corn seed germplasms in bringing GMO corn to the commercial markets, which will give us production ready product lines once our GMO technology receives regulatory approval."
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
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