Arcadia Biosciences Agrees To Sell GoodWheat Brand Products Above Food For $4 Mln

(RTTNews) - Arcadia Biosciences, Inc. (RKDA) Thursday announced that Above Food Corp. has agreed to purchase its GoodWheat brand wheat products for $4 million.

The partnership is expected to accelerate scaling Arcadia's wheat IP and will fit into Above Food's plant-based consumer product and specialty ingredient portfolios.

Stan Jacot, president and CEO of Arcadia said, "This transaction enables us to monetize our IP early while we continue to pursue other crop licensing and royalty streams."

The GoodWheat brand, launched in 2018 uses Arcadia's patented, better-for-you non-GMO wheat grain that is naturally higher in fiber and protein. GoodWheat products are currently available on more than 3,500 shelves nationwide and on Amazon.