BEIJING, Dec.18, 2017 /PRNewswire/ -- Origin Agritech Ltd. (Nasdaq: SEED)("the Company" or "Origin"), an agricultural biotechnology trait and corn seedprovider, today released a progress update on growth platforms which are focused on the development and commercialization of superior corn seed products and high value biotechnology traits.
"We are happy to share the exciting news on key milestone
- After 2 years of production trials as required by the government regulations in China, comprehensive data packages of the leading biotechnology traits, insect resistance and herbicide tolerance, have been submitted to China's regulatory agency for Biosafety Certificate (Phase 5) issuance. These traits have also been incorporated into Origin's leading inbred parental lines and commercial partner's elite lines in preparation for variety approval and commercial product launch.
- Origin's corn seed product portfolio has had another year of outstanding performance. Analysis of field trial data from more than 100 test locations indicated that 7 of the 7 hybrid varieties in the Green Pass production trials meet or exceed the criteria of new product registration. Data packages of these varieties will be submitted to the Ministry Of Agriculture (MOA) in December for national registration approval.
- In late 2017 Origin successfully fulfilled the Excellence Through Stewardship (ETS) Program audit requirements and became a formal member of this global organization of the AG biotechnology industry. This achievement demonstrates Origin's commitment to best practices and quality management systems and highlights its pledge to continuous improvement.
"I am pleased to report to stakeholders that our corn breeding pipeline and seed product portfolio are getting stronger year after year in both quantity and quality. Our biotech trait development program remains one of the industry leaders in China and we are ready to commercialize the technology once the government approvals are issued" said Dr. Jihong Liang, Origin Chief Technology Officer.
Corn seed product breeding, development and commercialization: Progress Update
Biotech trait development and biosafety certificationProgress Update
"We are extremely pleased with the latest progress in our seed product development and biotech trait programs. These advancements have provided strong supports to our goal to become the preferred technology partner in China," said Dr. Han. "Investments in technology and innovation is the key to success in this rapidly changing and consolidating industry. We are confident that we are in the right track to win."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading agricultural biotechnology company, specializing in crop seed breeding and genetic improvement, seed production, processing, distribution, and related technical services. Leading the development of crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits. Origin operates production centers, processing centers and breeding stations nationwide with sales centers located in key crop-planting regions. Product lines are vertically integrated for corn, rice and canola seeds. For further information, please visit the Company's website at: http://www.originseed.com.cn or http://www.originseed.com.cn/en/.
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology and, in general, for products for the agriculture industry; outcome of significant litigation and environmental matters, including realization of associated indemnification assets, if any; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could affect demand as well as availability of products for the agriculture industry; ability to protect and enforce the company's intellectual property rights; and successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses. The company undertakes no duty to publicly revise or update any forward-looking statements as a result of future developments, or new information or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
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SOURCE Origin Agritech Limited
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