Yield10 Finalizes Nufarm License for Key Omega-3 Asset

Yield10 Bioscience, an innovator in agricultural biosciences, is actively collaborating with Nufarm to finalize the asset acquisition agreement.

Oliver Peoples, Ph.D., President and CEO of Yield10 Bioscience, highlighted the ongoing collaboration with Nufarm to finalize the asset purchase agreement first announced in July. He affirmed that the transition of Yield10's Omega-3 Camelina program to Nufarm is strategically beneficial for shareholders, business partners, and employees. The initial $3 million payment, along with the potential $2 million milestone payment, is critical for managing essential biological assets and navigating regulatory requirements. This financial support also ensures that Yield10 has the necessary cash flow to seek shareholder approval for the asset sale, thereby advancing the company’s strategic objectives.

In July 2024, Yield10 announced the execution of a Memorandum of Understanding and License Agreement with Nuseed Nutritional US Inc. (a seed technologies platform of Nufarm Limited), which grants Nufarm a commercial license for specific Omega-3 intellectual property, materials, and expertise related to Camelina oil production. Under this agreement, Nufarm will compensate Yield10 up to USD $5 million. Additionally, Yield10 and Nufarm have committed to exclusive negotiations for the sale of nearly all of Yield10’s remaining assets to Nufarm. This asset sale is contingent upon shareholder approval, which will be sought through a special meeting convened after finalizing the asset purchase agreement.

In conclusion, Yield10 Bioscience's recent agreement with Nufarm marks a strategic shift aimed at optimizing shareholder value and advancing its business objectives. The potential revenue from the licensing deal, coupled with the immediate negotiations for the sale of remaining assets, provides critical financial support and operational stability. The transition of the Omega-3 Camelina program to Nufarm aligns with Yield10’s goals of effectively managing its resources and regulatory commitments while setting the stage for future growth. The upcoming shareholder vote will be pivotal in finalizing this strategic move, reflecting the company’s commitment to long-term value creation and innovation.

Yield10 Bioscience is an agricultural technology company pioneering the commercialization of Camelina as a novel oilseed crop. By harnessing advanced genetic engineering, the company is developing a sustainable platform for producing high-value oilseed products. Yield10's core focus lies in creating feedstock oils for the burgeoning renewable fuels industry, as well as omega-3 rich oils catering to the pharmaceutical, nutraceutical, and aquaculture sectors. With a strategic footprint encompassing both the United States and Canada, the company is well-positioned to translate its scientific innovations into commercially viable solutions addressing critical global challenges in food, fuel, and health.