AquaBounty Technologies

Last updated
AquaBounty Technologies Inc.
Nasdaq:  AQB
Russell Microcap Index component
Industry Biotechnology
Aquaculture
Founded1991 [1]
Headquarters Maynard, Massachusetts [1]
Key people
Sylvia Wulf (President & CEO)
Parent TS Aquaculture, LLC
Website aquabounty.com

AquaBounty Technologies is a biotechnology company based in Maynard, Massachusetts, United States. The company is notable for its research and development of genetically modified fish. [2] It aims to create products that aim to increase the productivity of aquaculture. [3] As of 2020, sale of salmon has been approved in Canada and the United States.

Contents

History

The underlying genetic technology that accelerates the growth and reduces the time to market for the AquAdvantage salmon was developed in 1989 at Memorial University in Newfoundland, Canada.  In 2003, the first regulatory study of the fish was submitted in the U.S. to the Food and Drug Administration (FDA), who ruled that the fish were safe to eat and posed no threat to the environment when farmed in land-based aquaculture farms.  In 2012, a submission was made to Health Canada to allow the sale of the genetically modified fish in Canada and the application was subsequently approved. [4] AquAdvantage salmon received FDA approval in 2015 and the first U.S. harvest of salmon occurred in 2020 at their Indiana-located aquafarm. As of 2022, a production facility is in construction in Ohio. [5]

Products

The company has developed hybrid salmon, trout, and tilapia designed to grow faster than traditional fish. Only the salmon has progressed to government (Canada, United States) approvals [6] and are the first genetically modified animals approved for consumption. [7] Their hybrid Atlantic salmon incorporates a gene from a Chinook salmon, which bears a single copy of the stably integrated α-form of the opAFP-GHc2 gene construct at the α-locus in the EO-1α line (Ocean Pout AKA Eel). [8] AquaBounty has patented and trademarked this fish as the AquAdvantage salmon, a sterile Atlantic salmon female that can grow to market size in half the time of conventional salmon. [9]

The company was reported to have made its first sale of 4.5 metric tons (4.4 long tons; 5.0 short tons) of AquaAdvantage salmon to Canadian customers in July 2017. [10] Sales in the U.S. started May 2021. [11]

Finances

In 2012, a New York Times article reported the finances of AquaBounty were not in good shape and the company had to reduce staff from 27 to 12. [12] In March 2012, AquaBounty raised US$2 million in new capital, but this would only last until the end of the year. [12] Georgian investor Kakha Bendukidze owned 47.6% of the company's stock before selling to American synthetic biology firm Intrexon in October 2012. Intrexon put up $500,000 in bridge financing and offered to buy the rest of the company. [9] [13] Intrexon acquired majority ownership of Aquabounty in 2013. [14] In 2019 Intrexon sold Aquabounty - which continues as a publicly held company - to TS Aquaculture, LLC, a privately held company managed by Third Security, LLC, a venture capital firm led by former Intrexon Chairman & CEO Randal J. Kirk. [15]

Related Research Articles

<span class="mw-page-title-main">Aquaculture</span> Farming of aquatic organisms

Aquaculture, also known as aquafarming, is the controlled cultivation ("farming") of aquatic organisms such as fish, crustaceans, mollusks, algae and other organisms of value such as aquatic plants. Aquaculture involves cultivating freshwater, brackish water and saltwater populations under controlled or semi-natural conditions, and can be contrasted with commercial fishing, which is the harvesting of wild fish. Mariculture, commonly known as marine farming, refers specifically to aquaculture practiced in seawater habitats and lagoons, as opposed to freshwater aquaculture. Pisciculture is a type of aquaculture that consists of fish farming to obtain fish products as food.

<span class="mw-page-title-main">Genetically modified organism</span> Organisms whose genetic material has been altered using genetic engineering methods

A genetically modified organism (GMO) is any organism whose genetic material has been altered using genetic engineering techniques. The exact definition of a genetically modified organism and what constitutes genetic engineering varies, with the most common being an organism altered in a way that "does not occur naturally by mating and/or natural recombination". A wide variety of organisms have been genetically modified (GM), from animals to plants and microorganisms. Genes have been transferred within the same species, across species, and even across kingdoms. New genes can be introduced, or endogenous genes can be enhanced, altered, or knocked out.

<span class="mw-page-title-main">Fish farming</span> Raising fish commercially in enclosures

Fish farming or pisciculture involves commercial breeding of fish, most often for food, in fish tanks or artificial enclosures such as fish ponds. It is a particular type of aquaculture, which is the controlled cultivation and harvesting of aquatic animals such as fish, crustaceans, molluscs and so on, in natural or pseudo-natural environment. A facility that releases juvenile fish into the wild for recreational fishing or to supplement a species' natural numbers is generally referred to as a fish hatchery. Worldwide, the most important fish species produced in fish farming are carp, catfish, salmon and tilapia.

<span class="mw-page-title-main">Genetically modified food</span> Foods produced from organisms that have had changes introduced into their DNA

Genetically modified foods, also known as genetically engineered foods, or bioengineered foods are foods produced from organisms that have had changes introduced into their DNA using the methods of genetic engineering. Genetic engineering techniques allow for the introduction of new traits as well as greater control over traits when compared to previous methods, such as selective breeding and mutation breeding.

<span class="mw-page-title-main">GloFish</span> Brand of genetically modified fluorescent fish

The GloFish is a patented and trademarked brand of genetically engineered fluorescent fish. They have been created from several different species of fish: zebrafish were the first GloFish available in pet stores, and recently tetra, tiger barbs, Rainbow Shark, Siamese fighting fish, and most recently Bronze corydoras have been added to the lineup. They are sold in many colors, trademarked as "Starfire Red", "Moonrise Pink", "Sunburst Orange", "Electric Green", "Cosmic Blue", and "Galactic Purple", although not all species are available in all colors. Although not originally developed for the ornamental fish trade, it is one of the first genetically modified animals to become publicly available. The rights to GloFish are owned by Spectrum Brands, Inc., which purchased GloFish from Yorktown Technologies, the original developer of GloFish, in May 2017.

<span class="mw-page-title-main">Genetically modified crops</span> Plants used in agriculture

Genetically modified crops are plants used in agriculture, the DNA of which has been modified using genetic engineering methods. Plant genomes can be engineered by physical methods or by use of Agrobacterium for the delivery of sequences hosted in T-DNA binary vectors. In most cases, the aim is to introduce a new trait to the plant which does not occur naturally in the species. Examples in food crops include resistance to certain pests, diseases, environmental conditions, reduction of spoilage, resistance to chemical treatments, or improving the nutrient profile of the crop. Examples in non-food crops include production of pharmaceutical agents, biofuels, and other industrially useful goods, as well as for bioremediation.

Randal J. Kirk is an American businessman and investor in pharmaceuticals and biotechnology. Kirk was the chairman and chief executive officer of Intrexon, a biotechnology company, until 2020. Kirk started as a lawyer, but is best known for his investments in pharmaceutical and biotech companies. In addition to high-profile sales of New River Pharmaceuticals, Inc., and Clinical Data, Inc, Kirk also founded investment firm Third Security, LLC, and has held board seats with biotech companies, such as Scios, Inc. He is a billionaire.

<span class="mw-page-title-main">Ocean pout</span> Species of fish

The ocean pout is an eelpout in the family Zoarcidae. It is found in the Northwest Atlantic Ocean, off the coast of New England and eastern Canada. The fish has antifreeze proteins in its blood, giving it the ability to survive in near-freezing waters.

<span class="mw-page-title-main">Genetically modified animal</span> Animal that has been genetically modified

Genetically modified animals are animals that have been genetically modified for a variety of purposes including producing drugs, enhancing yields, increasing resistance to disease, etc. The vast majority of genetically modified animals are at the research stage while the number close to entering the market remains small.

<span class="mw-page-title-main">Aquaculture of salmonids</span> Farming and harvesting of salmonids under controlled conditions

The aquaculture of salmonids is the farming and harvesting of salmonids under controlled conditions for both commercial and recreational purposes. Salmonids, along with carp, and tilapia are the three most important fish species in aquaculture. The most commonly commercially farmed salmonid is the Atlantic salmon. In the U.S. Chinook salmon and rainbow trout are the most commonly farmed salmonids for recreational and subsistence fishing through the National Fish Hatchery System. In Europe, brown trout are the most commonly reared fish for recreational restocking. Commonly farmed nonsalmonid fish groups include tilapia, catfish, sea bass, and bream.

<span class="mw-page-title-main">Genetically modified fish</span>

Genetically modified fish are organisms from the taxonomic clade which includes the classes Agnatha, Chondrichthyes and Osteichthyes whose genetic material (DNA) has been altered using genetic engineering techniques. In most cases, the aim is to introduce a new trait to the fish which does not occur naturally in the species, i.e. transgenesis.

<span class="mw-page-title-main">AquAdvantage salmon</span> Genetically modified Atlantic salmon

AquAdvantage salmon is a genetically engineered (GE) fish, a GE Atlantic salmon developed by AquaBounty Technologies in 1989. The typical growth hormone-regulating gene in the Atlantic salmon was replaced with the growth hormone-regulating gene from Pacific Chinook salmon, with a promoter sequence from ocean pout. This gene enables GM salmon to grow year-round instead of only during spring and summer.

The Center for Food Safety (CFS) is a 501c3, U.S. non-profit advocacy organization, based in Washington, D.C. It maintains an office in San Francisco, California. The executive director is Andrew Kimbrell, an attorney. Its stated mission is to protect human health and the environment, focusing on food production technologies such as genetically modified plants and organisms (GMOs). It was founded in 1997.

Arctic apple is the trademark for a group of patented apples that contain a nonbrowning trait introduced through biotechnology. They were developed through a process of genetic engineering by Okanagan Specialty Fruits Inc. Specifically, gene silencing reduces the expression of polyphenol oxidase (PPO), thus delaying the onset of browning. It is the first genetically engineered apple to be approved for commercial sale. The US Food and Drug Administration (FDA) in 2015, and the Canadian Food Inspection Agency, Government of Canada in 2017, determined that Arctic apples are as safe and nutritious as conventional apples.

<span class="mw-page-title-main">Fisheries law</span>

Fisheries law is an emerging and specialized area of law. Fisheries law is the study and analysis of different fisheries management approaches such as catch shares e.g. Individual Transferable Quotas; TURFs; and others. The study of fisheries law is important in order to craft policy guidelines that maximize sustainability and legal enforcement. This specific legal area is rarely taught at law schools around the world, which leaves a vacuum of advocacy and research. Fisheries law also takes into account international treaties and industry norms in order to analyze fisheries management regulations. In addition, fisheries law includes access to justice for small-scale fisheries and coastal and aboriginal communities and labor issues such as child labor laws, employment law, and family law.

Scott Nichols is an American inventor and marketer who is often considered to be a leader in the effort to make fish farming more sustainable. Nichols was part of the process and promotion of using a yeast rich in essential omega-3s (EPA) as an alternative food source for farmed salmon. He is the recipient of the 2012 SeaWeb Innovation Award, the 2015 IntraFish Seafood International Marketer of the Year Award, a co-founder of Verlasso, and founder of Food's Future. He serves on the board of the Aquaculture Stewardship Council.

<span class="mw-page-title-main">Alison Van Eenennaam</span> American biologist

Alison L. Van Eenennaam is a Cooperative Extension Specialist in the Department of Animal Science at the University of California, Davis and runs the Animal Genomics and Biotechnology Laboratory. She has served on national committees such as the USDA National Advisory Committee on Biotechnology in the 21st Century (AC21) and was awarded the 2014 Borlaug CAST Communication Award. Van Eenennaam writes the Biobeef Blog.

Genetic engineering in North America is any genetic engineering activities in North America

Calysta is a multinational biotechnology firm based in San Mateo, California. The company develops industrial processes that utilize microorganisms to convert methane into protein for seafood, livestock feed and other food ingredients. It operates a demonstration plant in Teesside, England, that uses methanotroph bacteria to convert methane into single cell protein currently approved for use in fish and livestock feed in the European Union. The firm is a spinout of DNA 2.0, the largest US-based provider of synthetic genes for industrial and academic use.

References

  1. 1 2 "Company & History". Archived from the original on 2011-06-28. Retrieved 2011-03-18.
  2. "Canada Approves Sale of Genetically Modified Salmon". Democracy Now! .
  3. "AquaBounty Technologies Company Overview". Bloomberg Businessweek. Archived from the original on 2012-10-11. Retrieved 2011-03-18.
  4. Canada, Health (2016-05-19). "AquAdvantage Salmon". aem. Retrieved 2021-01-12.
  5. "About Us". aquabounty.com. Retrieved 2022-06-08.
  6. Chesto, Jon (March 24, 2019). "AquaBounty's genetically engineered fish swim closer to sales in US". Boston Globe. Retrieved 25 March 2019.
  7. "Like salmon? They're now the first genetically modified animals approved for consumption". USA TODAY. Retrieved 2021-01-11.
  8. Staveley, Jane P. (25 August 2010). "Environmental Assessment for AquAdvantage Salmon" (PDF). Food and Drug Administration . Archived from the original (PDF) on 26 September 2012. Retrieved 2012-10-03.
  9. 1 2 Pollack, Andrew (December 21, 2012). "Engineered Fish Moves a Step Closer to Approval". The New York Times.
  10. Waltz,Nature, Emily. "First Genetically Engineered Salmon Sold in Canada". Scientific American. Retrieved 2017-08-08.
  11. Smith, Casey (21 May 2021). "Genetically modified salmon head to US dinner plates". AP News. Retrieved 6 August 2021.
  12. 1 2 Pollack, Andrew (21 May 2012) An Entrepreneur Bankrolls a Genetically Engineered Salmon. The New York Times, Retrieved 3 October 2012
  13. "Delays put question mark over GM salmon as development company receives bid". Fishupdate.com. December 10, 2012. Archived from the original on January 21, 2013.
  14. Jacob Bunge (15 December 2015) Firm Bets on Biotech That Changes How Food Is Produced. The Wall Street Journal, retrieved 30 January 2016
  15. House, Douglas G (31 October 2019). "Intrexon sells AquaBounty stake to CEO-affiliated aquaculture business". Seeking Alpha. Retrieved 2 December 2020.