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Israeli Agritech Startup PlantArcBio and ICL Innovation Announce Collaboration in the Development of Breakthrough Crop Enhancersqrcode

Apr. 15, 2019

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Apr. 15, 2019
PlantArcBio, an Israeli agritech startup company, and ICL Innovation, a subsidiary of ICL (NYSE; TASE: ICL), announced today that they have signed a collaboration agreement for the development of innovative crop productivity enhancers for agriculture. The agreement was signed following a proof of concept that was performed by the companies in 2018.

As part of the collaboration between the companies, PlantArcBio will use its discovery capabilities to identify biological targets and by using innovative techniques, will bring about improved crop productivity in various crops for global agriculture. Targets that will be successfully identified as possessing a positive impact on crop productivity will be integrated in the ICL development pipeline for continued development and formulation. Both parties estimate that the commercialization of their collaborative products will be possible within five years.

"This collaboration brings together two very unique companies, each of which possesses distinct capabilities", said Dr. Dror Shalitin, Founder and CEO of PlantArcBio. "ICL, in addition to being a leading producer of minerals and chemicals, brings extensive agronomic capabilities and know-how. We believe that in combination with the innovative discovery and thinking capabilities of PlantArcBio, we will be able to introduce new biology-based crop enhancers, that we will offer to the market as stand-alone products, or in combination with the ICL products. We are very excited about the collaboration with ICL and about the potential to improve the productivity of important agricultural crops such as corn. The new potential for the use of this technology is immense and can be applicable, in the future, for all agricultural crops".

Dr. Eddy Kaufman, CEO of ICL Innovation: "We are delighted to embark on this cutting-edge project with PlantArcBio, which has impressed us with its unique capabilities in the discovery of targets for crop productivity enhancement and validating their impact on plants. ICL has a unique range of specialty fertilizers, market understanding and extensive agronomic know-how. Our products improve the efficiency of plant nutrition, reduce the use of chemical fertilizers, improve environmental quality, increase productivity and enhance crop quality. Moreover, we strive to improve crop yield through the use of innovative technologies. We are looking forward to the collaboration with PlantArcBio, which will provide us with access to innovative crop productivity enhancers that to further expand our product offering".

About PlantArcBio

PlantArcBio Ltd. is a leading biotechnology company for the improvement of crop productivity and performance for global food security. The company was founded in 2014 by Dr. Dror Shalitin, a renowned scientist with decades of experience in plant research and development. In the company BOD is Professor Oded Shoseyov, one of the most innovative scientists in Israel and an entrepreneur of more than 10 companies. The Company developed a unique, highly innovative Direct In Plant (DIP™) gene discovery platform. The company works to improve seed traits for both conventional and biotech applications. PlantArcBio focuses on four key market segments: yield and abiotic stresses (environmental stresses); insect resistance; herbicide tolerance; and disease control. The company raised $3M to date and is currently conducting an additional round of financing. For more information, please visit www.PlantArcBio.com  or contact info@PlantArcBio.com 

About ICL

ICL is a global specialty minerals and chemicals company operating bromine, potash and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value to customers in key agricultural and industrial markets worldwide. ICL focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL's existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL's operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Ag Solutions.

ICL's shares are dual-listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2018 revenue totaled about $5.6 billion. For more information, please visit the Company's website at www.icl-group.com.

About ICL Innovation

ICL Innovation Ltd. serves as ICL's innovation arm. The company deals in the scouting and development of innovative technologies, in collaboration with external organizations. These technologies address the core business at ICL, across a range of sectors, with an emphasis on crop productivity and growth enhancers (plant nutrition) for agriculture.

The ICL Innovation operational model and the list of technologies in which the company is interested are outlined on the company's website: www.icl-innovation.com 


Source: PlantArcBio

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