Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Genetically modified salmon developed by AquaBounty. (Photo: AquaBounty)

Despite the losses, AquaBounty, bets in its biotechnology products

Click on the flag for more information about United States UNITED STATES
Friday, February 27, 2015, 23:50 (GMT + 9)

AquaBounty reported a net loss of USD 7.1 million for the year ended December 31 vs. USD 4.3 million in 2013, due to higher operating spend and investments in operations and research projects.

The company did not report any revenue, and the wider loss was caused by sales and marketing costs doubling to USD 1.4 million from USD 678,153 a year earlier, while research and development costs rose to USD 2.5 million (USD 1.9 million in 2013) and general and administrative costs reached USD 3.2 million compared to USD 2.3 million in the prior report.

Meanwhile, the company's two main projects are waiting the approval from the US Food and Drug Administration (FDA).

The first one is a new animal drug application, which so far, has had no further demands and no new scientific or legal argument being presented against its use. Therefore, the firm would eventually move forwards its commercialization.

On the other hand, the AquAdvantage® Salmon project, developed with a gene from the chinook salmon, providing the fish the potential to grow to market size in half the time of conventional salmon, is also expecting the approval for this GM fish to be launched into the market.

“In allowing the Arctic Apple and Innate Potato to be deregulated and planted for commercial use, the U.S. Department of Agriculture sent a clear signal that they are interested in science-based regulation and addressing future food needs," said Ron Stotish, Chief Executive Officer of AquaBounty.

"We are encouraged by this because the key reason given by the USDA in deregulating these two food products – ‘not likely to have a significant impact on the human environment’ – mirrors the conclusion arrived at by the FDA about our AquAdvantage® Salmon. Consequently, we remain confident that the FDA will also approve our application. Meanwhile, the Company continues to make plans for the commercialization phase that will commence immediately following receipt of the approval,” he concluded.

Notwithstanding, Environment Canada recognized that AquAdvantage hatchery, which produces sterile, all-female eggs, was no longer solely a research facility but could produce eggs on a commercial scale without harm to the environment or human health.

The pioneering biotechnology company has also progressed towards registering its common shares with the U.S. Securities and Exchange Commission for a listing on NASDAQ.

In January 2014, Intrexon Corporation agreed to undertake a subscription for new common shares to the value of USD 10.0 million before expenses, which provided the company strong support.

Related articles:

-AquaBounty rejects 'misinterpretation' of environment authority's sanctions
-AquaBounty authorised for commercial GM salmon production
-AquaBounty CEO 'disappointed' by another setback
-
AquaBounty still confident its transgenic salmon will be approved

 

[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Thailand
Oct 19, 04:40 (GMT + 9):
IN BRIEF - Joining forces for fisheries: 300+ delegates to gather for 3rd World Small-Scale Fisheries Congress
European Union
Oct 19, 04:00 (GMT + 9):
IN BRIEF - Study challenges concerns around imported farmed shrimp
Australia
Oct 19, 04:00 (GMT + 9):
IN BRIEF - ABARES report shows status of AUD 400 million fisheries is improving
United States
Oct 19, 04:00 (GMT + 9):
IN BRIEF - Regulators set hearing on shrimp rules
United States
Oct 19, 04:00 (GMT + 9):
IN BRIEF - More evidence shows seafood may help you stay healthier as you age
European Union
Oct 19, 04:00 (GMT + 9):
IN BRIEF - INvertebrateIT connects aquaculture stakeholders to exploit invertebrate-based solutions for sustainable feed
Australia
Oct 19, 04:00 (GMT + 9):
IN BRIEF - Larval fish database to show effects of climate change on fisheries
Myanmar
Oct 19, 04:00 (GMT + 9):
IN BRIEF - No more mangrove lands for shrimp farming, says Sabah minister
United States
Oct 19, 04:00 (GMT + 9):
IN BRIEF - Outdated Fisheries Policy Puts West Coast Anchovy at Risk
Norway
Oct 19, 03:00 (GMT + 9):
Alibaba and Marine Harvest partner to deliver fresh salmon in China
Norway
Oct 19, 02:40 (GMT + 9):
Norway and Russia agree to reduce cod capture in the Barents Sea
Peru
Oct 19, 02:20 (GMT + 9):
Fishing rights to be implemented to species for human consumption
Australia
Oct 19, 02:10 (GMT + 9):
Southern Australia seeks to boost rock lobster fishery efficiency
Chile
Oct 19, 01:00 (GMT + 9):
SERNAPESCA agrees collaboration with Norway’s sanitary authority and veterinary institute
Viet Nam
Oct 19, 00:10 (GMT + 9):
Pangasius exports could exceed USD 2 billion



Lenguaje
FEATURED EVENTS
  
TOP STORIES
EU fisheries ministers to discuss Baltic Sea fishing proposal
European Union EU Fisheries ministers are meeting at the Fisheries and Agriculture Council in Luxembourg to discuss the Commission's proposal on the Baltic Sea fishing opportunities for 2019 and reach a political agreement.
IFFO’s Annual Conference features high level panel and the EU commission
Italy IFFO’s 58th Annual Conference was opened by IFFO’s President Eduardo Goycoolea who declared that this IFFO conference will challenge and answer the tough questions often facing the industr...
EU renews fishing partnership agreement with Cape Verde
European Union The EU and Cape Verde have agreed to renew the current Sustainable Fishing Partnership Agreement protocol, which expires at the end of the year.
Ecuadorian FIP accepted onto the IFFO RS Improver Programme
United Kingdom Ecuador small pelagics Fishery Improvement Project has successfully met the criteria for acceptance on to the IFFO RS Improver Programme, IFFO RS reported.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER