FOR IMMEDIATE RELEASE
29 January 2016
AquaBounty Technologies, Inc.
("AquaBounty" or "the Company")
FDA's Import Alert for AquAdvantage® Salmon
MAYNARD, Massachusetts, 29 January 2016 - AquaBounty Technologies, Inc. (AIM: ABTU; OTC: AQBT), a biotechnology company focused on enhancing productivity in aquaculture, and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON), notes that the U.S. Food and Drug Administration (FDA) has today issued an Import Alert on the Company's AquAdvantage® Salmon. In making the announcement, the FDA stated that the temporary hold is being implemented to comply with language in the 2016 Omnibus Appropriations Act. The particular language directed the FDA to issue final guidance for GMO labeling of AquAdvantage, despite the absence of any GMO labeling requirement in the FDA's recent New Animal Drug Application approval. Current FDA policy does not require labeling for method of production if there is no material difference compared to traditional foods, and FDA found AquAdvantage as safe to consume as traditional farmed Atlantic salmon.
Ronald L. Stotish, Ph.D., Chief Executive Officer of AquaBounty, stated, "The decision has no impact on AquaBounty's operations as we are not currently importing our salmon into the United States. The FDA is working to complete the guidelines required by the Appropriations Act."
AquAdvantage Salmon was approved for production and human consumption by the FDA on November 19, 2015 after a thorough and rigorous scientific review over a period of 20 years. In its announcement, the FDA stated that AquAdvantage Salmon is as safe and nutritious to eat as any non-genetically engineered Atlantic salmon.
AquAdvantage Salmon will be farmed in land-based recirculating aquaculture systems (RAS) that recycle over 95% of the culture water resulting in minimal impact on the environment. Its greater efficiency in converting feed to edible protein reduces the pressure on wild fish harvested for fish meal and fish oil. AquAdvantage Salmon is an excellent source of healthy omega-3 fatty acids that have been shown to benefit human health.
The Company is committed to providing AquAdvantage Salmon to consumers looking for a more environmentally responsible seafood choice.
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For further information, please contact:
AquaBounty Technologies +1 978 648 6048
David Frank, Chief Financial Officer
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Stewart Wallace
Luther Pendragon +44 (0)20 7618 9100
Harry Chathli, Claire Norbury
About AquaBounty Technologies
AquaBounty Technologies is a publicly traded company whose largest shareholder is Intrexon Corporation (NYSE: XON). Intrexon is a synthetic biology company with diverse interests in medicine, food and agriculture, and fuels and the environment. AquaBounty Technologies is an aquaculture company focused on improving productivity in commercial aquaculture, a $144 billion industry and the fastest growing segment of the worldwide food industry. The company's objective is the application of biotechnology to ensure the availability of high quality seafood to meet global consumer demand. The company is developing products to address critical production constraints in the most popular farmed species, focusing initially on salmon, trout and tilapia. Its AquAdvantage® fish program is based upon a single, specific molecular modification in fish that results in more rapid growth in early development.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
