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Arcadia Biosciences Announces New Business Unit Dedicated to Cannabis

DAVIS, Calif.­­(BUSINESS WIRE)­­ Arcadia Biosciences, Inc., an agricultural food ingredient company, today announced the company will apply its expertise to a new crop: cannabis. With the establishment of Arcadia Specialty Genomics™, the company is dedicating a strategic business unit to the optimization and standardization of cannabis plant content, quality, climate resiliency and yield. Arcadia Specialty Genomics intends to conduct its business only in federal and state markets in which its activities are legal.

With a 15­-year track record of agricultural innovation, Arcadia Biosciences has brought new and beneficial crop traits to market through its advanced, proprietary approach to plant breeding and gene editing. With products such as GoodWheat™ flour and SONOVA® GLA safflower, the company develops high­-value food ingredients and nutritional oils that meet consumer demands and improve crop outcomes for farmers. Now, the company will apply its expertise to the burgeoning cannabis industry, with an initial focus on the hemp market.

Chief Financial Officer Matt Plavan has been appointed president of Arcadia Specialty Genomics.

“Within the rapidly growing legal cannabis industry, we see enormous opportunity in – and demand for – improved plant quality, productivity, consistency and resilience,” said Raj Ketkar, president and CEO of Arcadia Biosciences. “With this new operating unit, Arcadia Specialty Genomics, we are uniquely qualified as a proven crop improvement company equipped to address the legacy challenges facing a plant that until recently was largely grown unlawfully.” Ketkar added, “I can think of no one better than Matt Plavan, an industry veteran with a track record of leading transformational market pivots, to lead our new strategic business unit.”

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