SAN DIEGO, Feb. 14, 2019 /PRNewswire/ -- Cibus, a leader in advanced plant-breeding technologies, today announced it has postponed plans for an initial public offering.
"We elected to postpone our offering given current market and technical conditions," said Peter Beetham, Co-Founder and Chief Executive Officer. "We look forward to introducing our leading technology in non-transgenic gene editing to the market in the future as we continue to execute our commercial growth plan and strategy to introduce non-transgenic traits to the world's most essential crops."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CibusCibus is a biotechnology company using advanced technologies to develop desirable plant traits for the global seed industry by precisely editing a plant's genes without the integration of foreign genetic material. This technique accelerates natural breeding that has been a staple of farming for thousands of years and has been classified in certain key agricultural markets as not subject to GMO regulation. Cibus has launched its first commercial canola products, now marketed under the Falco™ brand, and is developing a pipeline of beneficial traits in other crops that it plans to license, including healthier oil quality, disease resistance, and herbicide tolerance. Cibus has established crop platforms in canola, rice, flax, potato, and is now developing platforms in wheat, corn, soybean and peanut. The broad applicability of Cibus' technologies is highlighted by its Nucelis division, which extends the company's trait development program to microorganisms, including yeast, bacteria and algae, for the food, flavor and fragrance and personal care markets. The company has subsidiaries in Europe and North America and a state-of-the-art research and development center in San Diego.
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"We elected to postpone our offering given current market and technical conditions," said Peter Beetham, Co-Founder and Chief Executive Officer. "We look forward to introducing our leading technology in non-transgenic gene editing to the market in the future as we continue to execute our commercial growth plan and strategy to introduce non-transgenic traits to the world's most essential crops."
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CibusCibus is a biotechnology company using advanced technologies to develop desirable plant traits for the global seed industry by precisely editing a plant's genes without the integration of foreign genetic material. This technique accelerates natural breeding that has been a staple of farming for thousands of years and has been classified in certain key agricultural markets as not subject to GMO regulation. Cibus has launched its first commercial canola products, now marketed under the Falco™ brand, and is developing a pipeline of beneficial traits in other crops that it plans to license, including healthier oil quality, disease resistance, and herbicide tolerance. Cibus has established crop platforms in canola, rice, flax, potato, and is now developing platforms in wheat, corn, soybean and peanut. The broad applicability of Cibus' technologies is highlighted by its Nucelis division, which extends the company's trait development program to microorganisms, including yeast, bacteria and algae, for the food, flavor and fragrance and personal care markets. The company has subsidiaries in Europe and North America and a state-of-the-art research and development center in San Diego.
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SOURCE Cibus
