GIVAT HEN, Israel , June 16, 2021 /PRNewswire/ -- PlantArcBio, a leading gene discovery biotech company, announced today a new collaboration agreement with Bioceres Crop Solutions Corp. ("Bioceres") (NASDAQ: BIOX), a fully-integrated global provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, for the development of improved biomass & drought tolerant Alfalfa, leveraging PlantArcBio's identified genes and Bioceres expertise in development of drought tolerant crops.
In this collaboration, PlantArcBio has granted Bioceres the exclusive licensing rights to its leading biomass & drought resistance genes for Alfalfa worldwide; those genes were discovered by PlantArcBio in soil samples taken from the Dead Sea and have already proven their impact on biomass increase and drought resistance in several crops to date. Bioceres will develop Alfalfa varieties incorporating those traits and will commercialize them through its global leading presence. The agreement is contingent upon the successful incorporation of the genetic traits.
Today, Bioceres has developed a pipeline of alfalfa technologies currently at different stages of development, including drought tolerance, increased biomass and improved plant architecture. HB4 Alfalfa (drought tolerance) and different crop protection platforms are all entering regulatory stage.
Alfalfa is the most valuable forage crop worldwide due to its high quality as an animal feed and is planted on more than 30 million hectares worldwide, the United States being the largest producer. Alfalfa hay demand is largely driven by its high nutrient content as it is a rich source for protein and energy that helps improve: the lactation, reproduction, maintenance and growth of livestock. The demand for alfalfa is predicted to continue increasing in the near future and to meet this need, alfalfa producers must be effective in providing large quantities of high-quality alfalfa while using natural resources, especially water, in a highly efficient way. The global market for alfalfa hay is expected to grow at a CAGR of 5.89% to a market size of US$20.6 billion in 2025, from US$14.6 billion in 2019 (Research and Markets, 2020).
About Bioceres
Bioceres Crop Solutions Corp. (NASDAQ: BIOX) is a fully integrated global provider of crop productivity technologies designed to enable the transition of agriculture towards carbon neutrality. To do this, Bioceres' solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The Company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation crop nutrition and protection solutions. Through its HB4® program, the Company is bringing digital solutions to support growers' decisions and provide end-to-end traceability for production outputs. For more information, click here .
About PlantArcBio
PlantArcBio Ltd . (TASE: PLNT) ( https://www.plantarcbio.com/ ) is a leading biotechnology company for the improvement of crop yield and plant performance aiming to increase stability and security in the global food market. Using its own unique and highly innovative Direct In Plant (DIP™) gene discovery platform, the company works to improve seed traits for both conventional and biotech applications. PlantArcBio focuses on four key market segments: yield and abiotic stresses (environmental stresses); insect resistance; herbicide tolerance; and disease control.
Contact details:
Info@Plantarcbio.com
+972-547-787-456
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SOURCE PlantArcBio; Bioceres Crop Solutions Corp.