- Grace Breeding’s WDS, a proprietary and environmentally friendly formula to counteract crop climate stress, will be marketed under the brand name "ClimAid™" in the European Union
- This represents the Company’s first product registration in the European Union and facilitates Grace Breeding’s registration process in various other EU countries -
REHOVOT, Israel, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Grace Breeding Ltd. (the "Company" or "Grace Breeding") (TASE: GRAC), a forward-thinking AgClimateTech company developing sustainable biological-based products to improve crop yield and vigor, today announced that it received product registration approval in Germany by the German Federal Office of Consumer Protection and Food Safety (BVL) for its innovative WDS (“Wide Defense System”) climate stress tolerance solution, to be marketed as an adjuvant in combination with bacteria-based products in the Bacillus subtilis family for soil application use in open field and greenhouse vegetables under the brand name “ClimAid™”. This represents the Company’s first product registration approval for its WDS in the European Union (EU) and facilitates Grace Breeding’s registration process in other EU countries.
“Following our first approval of our NFT bio-fertilizer last quarter, we are very pleased to obtain another first approval in Europe related to our second sustainable product candidate, our WDS climate stress tolerance solution,” said Assaf Dotan, Chief Executive Officer of Grace Breeding. “Grace Breeding’s ClimAid is a biological compound and has the dual benefit of helping to increase plant resilience while also significantly increasing crop yield. By having this product in addition to our NFT bio-fertilizer product available in Europe, we will be able to provide sustainability and meaningful value to farmers there.”
In October of last year, Grace Breeding reported on field tests in Israel on its WDS formula on industrial tomatoes. Amid droughts and arid weather conditions in major tomato-producing locales like California, the WDS formula was shown to improve industrial tomato yields by 17 percent during field trials. The field trials also showed Grace Breeding’s WDS formula boosted growth of the tomato’s root system and nutrient absorption from the soil, improving the crop yield.
The registration with German authorities was obtained with the support of SCC (Scientific Consulting Company) GmbH, a regulatory consulting firm supporting Grace Breeding within the EU.
About Grace Breeding
Grace Breeding is an AgClimateTech company focused on developing environmentally sustainable products that are biologically based and provide efficient and natural solutions for farmers and distributors. Grace Breeding aims to disrupt crop agriculture – by providing solutions for crop bio-fertilization and climate stress relief and offering innovative products and solutions that reduce the environmental damage caused by synthetic fertilizers. Grace Breeding has an R&D center in Israel and in parallel the company is developing its products with several leading research and development centers around the world. For more information, visit https://www.gracebreeding.com.
Forward-Looking Statements
This press release contains forward-looking statements concerning our business operations and future plans. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, the preliminary nature of the Company's business operations, the dependency on the success of future filed trials, the regulatory environment, the Company's financial position and other risk factors. For a more detailed discussion of these and other risks that may cause actual results to differ from the forward-looking statements in this press release, please refer to our most recent annual report. The Company does not undertake any obligation to update forward-looking statements made herein.
Contacts
Grace Breeding Ltd.
Investors
Jeremy Feffer
LifeSci Advisors LLC
jfeffer@lifesciadvisors.com
Media
Inbar Kneller
ReBlonde Public Relations
inbar@reblonde.com
