The deal provides Arista and Bay State Milling exclusivity in major wheat markets, including North America
Image: Arcadia has collaborated with Arista Cereal and Bay State Milling to commercialise high fibre wheat. Photo: courtesy of Free-Photos from Pixabay.
Arcadia Biosciences has entered into global collaboration with Arista Cereal Technologies and Bay State Milling for the commercialisation of high fibre wheat.
Under binding term sheet agreement, the companies will work together to commercialise high fibre resistant starch wheat in major wheat markets in North America, Europe and parts of Asia.
Arcadia’s high fibre wheat will offer more resistant starch than traditional wheat, as well as higher amounts of dietary fibre compared to traditional wheat flour.
Bay State Milling president and CEO Peter Levangie said: “We continue to see tremendous opportunity for high fiber wheat flour – particularly in the United States, where consumers are increasingly mindful about the nutrition their food delivers.”
The deal to commercialise Arcadia’s high fibre resistant starch wheat technology
As per terms of the deal, Bay State Milling will serve as exclusive commercial partner for Arcadia’s high fibre wheat in North America under Bay State Milling’s HealthSense brand portfolio.
The agreement allows Arista to have exclusive rights under Arcadia’s intellectual property in Australia, New Zealand, Europe, Japan and South Korea.
Arcadia will continue to sell its high fibre wheat under its GoodWheat portfolio of specialty wheat ingredients in other global markets.
According to Arcadia, the deal resolves an intellectual property dispute between the three companies over the company’s high fibre wheat.
The agreement provides Arcadia with royalties on sales of its wheat varieties in North America by Bay State Milling. It is also eligible to secure additional considerations.
Arcadia Biosciences, president and CEO Raj Ketkar said: “We are pleased to have entered into an agreement with Arista and Bay State Milling that will accelerate commercialization of our high fibre wheat in key wheat markets – and capture revenue in 2019 and beyond.
“Bay State Milling is an excellent partner for North America, bringing its strengths in milling, identity preserved supply chains and technical support of customer food companies.”