- Cibus Announces Election of New Board Member, Deepening Strategic Leadership and Experience
SAN DIEGO, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Cibus, Inc. (NASDAQ: CBUS), a global leader in Gene Editing in agriculture and the development of Productivity Traits in plants that directly impact farming productivity and profitability announced that its Board of Directors has elected Jim Collins, former CEO of Corteva, to the Board.
“Jim brings to Cibus immense knowledge and strategic vision on the direction of the future role and use of Gene Editing in agriculture,” said Mark Finn, Chair of the Audit Committee. “Jim’s experience leading one of the largest agricultural and seed companies will give us important leadership as to where gene editing can have the greatest global impact in supporting farmers in increasing the profitability and sustainability of the major crops by addressing critical challenge areas for productivity such as diseases and pests.”
“His insights and experience in developing and launching industry-changing innovative technologies are invaluable to Cibus,” says Rory Riggs, co-founder, Chairman and CEO of Cibus. “Importantly, Jim brings to our efforts a focus on commercialization and productivity that is critical to our organization and its success as it begins commercializing its initial traits.”
“I’m excited to join the Cibus Board as it brings gene editing technology to trait development that can change both the speed to market and the range of possible targets to address farming productivity and profitability. It aligns with my passion and career-long focus on improving the resiliency and sustainability of agriculture,” says Mr. Collins. “I am impressed with Cibus’ leadership team and believe wholeheartedly in the mission and potential of the organization and technology.”
From 2019 to 2021, Mr. Collins was CEO and a member of the Board of Corteva Agriscience, a Fortune 200 agricultural and seed company with 22,000 employees around the globe. During that time, he spearheaded many initiatives to enhance sustainability, focusing on helping farmers lead with new practices and innovations. Before that, he served in various leadership positions in the agriculture business at Corteva’s predecessors, DowDuPont and DuPont.
Mr. Collins serves on the Board of Archer Daniels Midland Company (NYSE: ADM), as Chair of the Board of Directors of Vestaron Corporation, and as an advisor to the University of Delaware’s College of Agriculture and Natural Resources. He previously served on the Board of CropLife International, the advisory board for the University of Delaware’s Alfred Lerner College of Business & Economics, and the Board of Trustees of the Hagley Museum and Library. He was also a member of the US-China Business Council and the Business Roundtable, where he served on the Special Committee on Equity and Racial Justice and the Climate Policy and Trade Committees. Mr. Collins was also a University of Tennessee Lone Oaks Farm Advisory Council member and served on the Board of Trustees of Longwood Botanical Gardens. Mr. Collins holds a bachelor’s degree in chemical engineering from Christian Brothers University in Tennessee and an MBA from the University of Delaware.
Cibus is a leader in Gene Edited Productivity traits that address critical productivity and sustainability challenges for farmers such as diseases and pests which the United Nations estimates cost the global economy approximately $300 Billion annually. Cibus is not a seed company. It is a technology company that uses gene editing to develop and license traits to seed companies in exchange for royalties on seed sales. Cibus’ focus is productivity traits for the major global crops such as Canola, Rice, Soybean, Corn, and Wheat. Cibus is the technology leader in high throughput gene editing technology that enables Cibus to develop and commercialize plant traits at a fraction of the time and cost of conventional breeding. Using its Trait Machine process, Cibus has developed a pipeline of five productivity traits including important traits for pod shatter reduction, Sclerotinia resistance and weed management. Its initial traits for Pod Shatter Reduction and weed management are developed and in collaborations with leading seed companies. Its other pipeline traits including Sclerotinia Resistance are in advanced greenhouse and field trial stages.
This press release contains “forward-looking statements” within the meaning of applicable securities laws, including The Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included herein, including statements regarding Cibus’ strategy, future operations, prospects and plans, are forward-looking statements. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “intend”, “expect,” “plan,” “scheduled,” “could,” “would” and “will,” or the negative of these and similar expressions.
These forward-looking statements are based on the current expectations and assumptions of Cibus’ management about future events, which are based on currently available information. These forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and beyond the control of Cibus. Cibus’ actual results, level of activity, performance, or achievements could be materially different than those expressed, implied, or anticipated by forward-looking statements due to a variety of factors, including, but not limited to: risks associated with the possible failure to realize certain anticipated benefits of the merger between Cibus Global, LLC and Calyxt, Inc. (Merger Transactions); the effect of the completion of the Merger Transactions on Cibus’ business relationships, operating results, and business generally; the outcome of any litigation related to the Merger Transactions; changes in expected or existing competition; challenges to Cibus’ intellectual property protection and unexpected costs associated with defending intellectual property rights; increased or unanticipated time and resources required for Cibus’ platform or trait product development efforts; Cibus’ reliance on third parties in connection with its development activities; challenges associated with Cibus’ ability to effectively license its productivity traits and sustainable ingredient products; the risk that farmers do not recognize the value in germplasm containing Cibus’ traits or that farmers and processors fail to work effectively with crops containing Cibus’ traits; challenges that arise in respect of Cibus’ production of high-quality plants and seeds cost effectively on a large scale; Cibus’ need for additional funding to finance its activities and challenges in obtaining additional capital on acceptable terms, or at all; Cibus’ dependence on distributions from Cibus Global, LLC to pay taxes and cover its corporate and overhead expenses; regulatory developments that disfavor or impose significant burdens on gene-editing processes or products; Cibus’ ability to achieve commercial success; commodity prices and other market risks facing the agricultural sector; technological developments that could render Cibus’ technologies obsolete; changes in macroeconomic and market conditions, including inflation, supply chain constraints, and rising interest rates; dislocations in the capital markets and challenges in accessing liquidity and the impact of such liquidity challenges on Cibus’ ability to execute on its business plan; and other important factors discussed in “Risk Factors of Cibus, Inc.” filed as Exhibit 99.3 with Cibus’ Current Report on Form 8-K, which was filed with the Securities and Exchange Commission (the “SEC”) on June 1, 2023, and any additional “Risk Factors” identified in Cibus’ subsequent reports on Forms 10-Q and 8-K filed with the SEC. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Cibus’ assessment of the period of time through which its financial resources will be adequate to support its operations is a forward-looking statement and involves such risks and uncertainties. Accordingly, the Company could use its available capital resources sooner than it currently expects.
In addition, the forward-looking statements included in this press release represent Cibus’ views as of the date hereof. Cibus specifically disclaims any obligation to update such forward-looking statements in the future, except as required under applicable law. These forward-looking statements should not be relied upon as representing Cibus’ views as of any date subsequent to the date hereof.