Business
Portfolio Company Update: Tropic Biosciences
Portfolio Company Update: Tropic Biosciences.
About this update from Agronomics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0032S\n Agronomics Limited\n 11 November 2021\n \n \n \n \n 11 November 2021\n \n \n \n \n Agronomics Limited\n \n \n \n (\"Agronomics\" or the \"Company\")\n \n \n \n \n \n Portfolio Company Tropic Biosciences Obtains a Positive Response From USDA-APHIS on Product Developed Using its GEiGS Technology\n \n \n \n \n \n Agronomics, the leading listed company focused on the field of cellular agriculture, is pleased to announce that portfolio company Tropic Biosciences has received confirmation\n that its potato product, developed using its proprietary Gene Editing Induced Gene Silencing (\"GEiGS\") technology, is exempt from regulation by the United States Department of Agriculture Animal & Plant Inspection Service (USDA-APHIS\"). This confirmation ensures that its gene-edited potatoes, resistant to browning, will not face regulatory barriers on its way to market, and is a promising indicator for its other products such as coffee, rice and bananas. Agronomics holds an equity ownership of 2.95% following participation in Tropic's Series B round in March 2020.\n \n \n \n \n \n The full announcement is set out below with no material changes or adjustments:\n \n \n \n \n \n Tropic Biosciences obtains positive response from USDA-APHIS on regulatory status of a product developed using its GEiGS®(Gene Editing Induced Gene Silencing) technology\n \n \n \n \n \n Tropic Biosciences (\"Tropic\"), a pioneering agricultural-biotechnology company dedicated to the development of high-performance tropical crops, announced today that it has received confirmation that potatoes with reduced browning, developed by GEiGS®-mediated silencing of polyphenol oxidase-5 (Ppo5) transcripts, were determined to be exempted from regulation by the USDA. Tropic made a submission to the USDA requesting confirmation of regulatory status for this product in May 2021. The USDA-APHIS response indicated that the plant lines do not meet the definition of a regulated article under 7 CFR Part 340 regulations. Tropic's submission along with the USDA-APHIS BRS response is posted on the \n \n USDA's website\n \n .\n \n \n \n \n \n \"This is the first regulatory assessment of a product based on our proprietary GEiGS® technology and the confirmation that this product is not regulated by USDA is an...