10/26/2010 9:32:58 AM
DAVIS, Calif.--(BUSINESS WIRE)--Arcadia Biosciences, Inc., an agricultural technology company focused on developing technologies and products that benefit the environment and human health, and Advanta, a leading multinational seed company, today announced that the companies have reached a research and commercial development agreement for the development of Water Efficient sorghum. Under terms of the agreement, Advanta receives exclusive global rights to the use of Arcadia’s Water Efficiency technology in sorghum. Arcadia receives an upfront payment, milestone payments and a share of commercial sales revenue. This agreement builds upon the agreements the two companies reached in 2009 for the development of Nitrogen Use Efficient (NUE) and Salt Tolerant sorghum.
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