Arcadia Biosciences sells RS Durum Wheat trait to Corteva for $4M

Arcadia Biosciences (RKDA), a producer and marketer of plant-based health and wellness products, announced it has sold its non-GMO Resistant Starch RS Durum Wheat trait to longtime partner Corteva (CTVA) Agriscience. Under the terms of the agreement, Arcadia will receive $4M and retain the right to continue using Resistant Starch Durum in its GoodWheat portfolio of wheat products, including pastas and mac & cheese. Corteva will acquire 24 RS Durum patents in 20 countries. “Wheat is a staple crop worldwide, and consumers are looking for ways to enhance their nutrition through natural sources. As a leading global agricultural company, Corteva is an ideal partner to bring this trait to farmers globally,” said Stan Jacot, president & CEO of Arcadia. “This transaction enables our long-standing collaboration to continue, with Corteva eventually supplying seed that farmers could grow for the GoodWheat brand, while the financial component strengthens our balance sheet, allowing us to pursue strategic transactions.”