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Arcadia Biosciences launches new product line, GoodHemp

Its new commercial brand offers genetically superior hemp seeds, transplants, flower and extracts

Arcadia Biosciences Inc - Arcadia Biosciences launches new product line, GoodHemp
GoodHemp will debut its first commercial product -- a disease-resistant and ultra-low THC hemp seed -- during the American Seed Trade Association CSS & Seed Expo

Arcadia Biosciences Inc (NASDAQ:RKDA) announced Tuesday the launch of a new product line: GoodHemp.  

GoodHemp is the company's new commercial brand for delivering genetically superior hemp seeds, transplants, flower and extracts, according to a statement. 

Arcadia said GoodHemp will debut its first commercial product -- a disease-resistant and ultra-low THC hemp seed -- during the American Seed Trade Association CSS & Seed Expo on December 11.

READ: Arcadia Biosciences and Bioceres Crop Solutions secure approval in Paraguay for drought-tolerant soybeans

Accepting advance orders now, the first variety in GoodHemp's catalog, Complia Bot+, is a widely-adapted cannabis strain that delivers high CBD content (more than 10%) with ultra-low tetrahydrocannabinol (THC), the psychoactive compound in cannabis. 

It is part of the Complia hemp seed line Arcadia is bringing to market through GoodHemp, with four additional proprietary varieties in early adopter farmer trials with sales expected in the 2020 season.

This innovation comes just months after the US Department of Agriculture’s Interim Final Ruling for hemp cultivation, which mandates that states test hemp crops and dispose of "hot" crops that exceed 0.3% THC. 

While hemp farmers will have access to crop protection options, the destruction of hot crops that fail these stringent inspections will not be a covered loss under crop insurance programs. In 2019 alone, approximately 20% of US hemp crops were non-compliant, representing $2 billion in losses for growers.

"In less than a year since we first announced our division for hemp research and cultivation, Arcadia Specialty Genomics, we've brought to market a commercial hemp line designed to solve a major industry problem – hot crops," said Sarah Reiter, chief commercial officer at Arcadia. 

"This is proof of our disruptive innovation and speed to market, and it is just the beginning of our ambitions for revolutionizing the commercial hemp germplasm market."

GoodHemp the first application of ArchiTech

GoodHemp is the first application of ArchiTech, Arcadia's proprietary technology platform designed to bring innovative and disruptive plant genomics to market rapidly.

Combining modern bioscience approaches including genomics, genome editing such as CRISPR and TILLING, phenotyping and conventional breeding – along with aggressive market intelligence and partnering – Arcadia is aiming modern technology at the ancient crop of hemp.

"Through our ArchiTech platform, we are combining modern breeding science and genomics technology to develop high-quality non-GM hemp varieties with improved uniformity, stability, resiliency and yield, enabling farmers to maximize the value and profitability of this newly-legal crop," added Randy Shultz, vice president of research and development at Arcadia. "In addition to this ultra-low THC disease-resistant variety, we continue to build our germplasm estate based on our own varietal developments and technology acquisitions."

A proven leader in the crop innovation discipline, Arcadia's portfolio of agricultural traits is being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment.

The David, California-based company focuses on three strategic crops: wheat, soybeans and hemp. The company's GoodWheat product line, which delivers nutritionally enhanced ingredients such as high fiber resistant starch and reduced gluten wheat varieties, recently made its commercial debut.

Aradia’s stock was up 5% to $5.59 a share in pre-marketing trading, 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

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Price: 3.94 USD

NASDAQ:RKDA
Market: NASDAQ
Market Cap: $39.58 m
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