Arcadia Biosciences, Inc. and SESVanderHave to Develop Water Efficient Sugar Beets
3/18/2011 8:46:03 AM
DAVIS, Calif. & TIENEN, Belgium--(BUSINESS WIRE)--Arcadia Biosciences, Inc, an agricultural technology company focused on developing technologies and products that benefit the environment and human health, and SESVanderHave, a leading sugar beet breeding and marketing company, today announced that they have signed an agreement to develop Water Efficient (WE) sugar beets. Under the terms of the agreement, SESVanderHave receives exclusive global rights to the use of Arcadia’s Water Efficiency technology in sugar beets. Arcadia receives certain fees prior to commercialization of resulting products, and a share of the commercial sales revenue. This agreement builds upon the agreement the two companies reached in 2007 for the development of Nitrogen Use Efficient (NUE) sugar beets. Under the 2007 agreement, the companies developed a collaboration to optimize research, product development, and commercial activities in NUE sugar beets. Initiatives related to Arcadia’s WE technology will be added to this collaboration.