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Yield10 Bioscience Grants Nufarm a Commercial License to Omega-3 Assets for Producing Oil in Camelina, and Yield10 and Nufarm sign a Memorandum of Understanding for Sale of Assets
Yield10 Bioscience (OTC:YTEN) has signed a Memorandum of Understanding and License Agreement with Nuseed Nutritional US Inc., granting Nufarm a commercial license to Omega-3 assets for producing oil in Camelina. Nufarm will pay up to USD $5 million for the license. The companies have agreed to negotiate exclusively for the sale of Yield10's remaining assets to Nufarm, subject to shareholder approval.
This deal aims to enable a land-based supply of high-quality omega-3 oils to meet growing global demand for EPA and DHA. The transition of Yield10's Omega-3 Camelina program to Nufarm is expected to provide cash runway and facilitate the commercialization of plant-based omega-3 oils using Camelina.
This deal aims to enable a land-based supply of high-quality omega-3 oils to meet growing global demand for EPA and DHA. The transition of Yield10's Omega-3 Camelina program to Nufarm is expected to provide cash runway and facilitate the commercialization of plant-based omega-3 oils using Camelina.
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