Yield10 Bioscience grants Nufarm a commercial license to Omega-3 assets

Yield10 Bioscience announced that the Company has signed a Memorandum of Understanding, MOU, and License Agreement with Nuseed Nutritional US, granting Nufarm a commercial license to certain Omega-3 intellectual property assets, materials and know-how for producing oil in Camelina. Under the License Agreement, Nufarm will pay Yield10 up to USD $5 million. Nufarm and Yield10 have additionally agreed to immediately negotiate exclusively with each other for the sale of Yield10’s remaining assets to Nufarm. The asset sale will require an affirmative vote from the shareholders of Yield10, and a special meeting of shareholders will be convened to seek that vote following execution of the asset purchase agreement. “Yield10 camelina assets and know-how in both omega 3 and bioenergy sectors have a unique fit with Nufarm’s Value Beyond Yield and platform strategies,” said Greg Hunt, CEO and Group Executive of Nufarm. “While the program still requires further development time and investment before achieving revenue, it offers a broadened portfolio of solutions for our customers both at the farm-gate and with end-use customers.”