MINNEAPOLIS & ST. PAUL, Minn.--(BUSINESS WIRE)--
(NASDAQ: CLXT), a consumer-centric, food- and agriculture-focused Company, announced today an agreement with American Natural Processors (ANP), a leading provider of innovative non-GMO and organic processing of oils, flours and meals, to crush Calyxt’s high-oleic soybean variety, and produce the Company’s high oleic soybean oil, its first product expected to hit the market in late 2018 / early 2019.
“With this collaboration, Calyxt has taken an important step toward the commercialization of our high-oleic soybean oil by contracting with a processor with a strong track record of food quality and safety, and that is committed to the non-gmo and organic industries,” said Manoj Sahoo, Calyxt Chief Commercial Officer. “We consider ourselves to be stewards of the land, producing foods that are not only nutritionally rich and cost-effective but also sustainable and environmentally friendly. After receiving strong interest from farmers and food companies for our first product candidate, we are excited to work with a crusher that shares our objective to impeccable product quality for consumers.”
The high-oleic / low-saturated fat oil from this new variety of soybeans is designed to eliminate the need for hydrogenation, a process that improves heat stability and shelf life of conventional soybean oil. The process of hydrogenation for conventional soybean oil contributes to the production of trans-fatty acids, which, when consumed, raises low-density lipoprotein, or LDL, and cholesterol levels, as well as contributes to cardiovascular diseases. The FDA has declared trans fats not generally recognized as safe (GRAS), and human food must no longer contain partially hydrogenated oils by June 18, 2018. In addition, World Health Organization recently unveiled a plan to remove all trans fats worldwide from the food chain by 2023.
In mid-2015, Calyxt received a letter from the USDA confirming that the Company’s high-oleic soybean variety is non-regulated, as the product contains no foreign DNA.
ANP operates mostly non-GMO soybean processing plants in Cherokee, Iowa, where it has operated for nearly two decades, working with some of the largest consumer packaged goods companies in the U.S.
About Calyxt
Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. Calyxt is pioneering a paradigm shift to deliver healthier food ingredients, such as healthier oils and high fiber wheat, for consumers and crop traits that benefit the environment and reduce pesticide applications, such as disease tolerance, for farmers. Calyxt develops non-transgenic crops leveraging processes that occur in nature by combining its leading gene-editing technology and technical expertise with its innovative commercial strategy. Calyxt is located in Minneapolis-St. Paul, Minn., and is listed on the Nasdaq market (ticker: CLXT).
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Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors discussed under the caption entitled “Risk Factors” in Calyxt’s Annual Report on Form 10-K, and Cellectis’ Annual Report on Form 20-F and the financial report (including the management report) for the year ended December 31, 2017 along with other Calyxt and Cellectis subsequent filings with the U.S. Securities and Exchange Commission. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by applicable laws.
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