Aqua Bounty Technologies, Inc. Canadian authorities approve AquAdvantage Salmon (8068Y)

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RNS Number : 8068Y

Aqua Bounty Technologies, Inc.

19 May 2016

AquaBounty Technologies, Inc.

("AquaBounty" or "the Company")

AquaBounty's AquAdvantage(R) Salmon approved by Health Canada

Canada becomes second country to determine AquAdvantage Salmon is safe to eat and poses no environmental concern

MAYNARD, Massachusetts, 20 May 2016 - AquaBounty Technologies, Inc. (AIM: ABTU; OTC: AQBT), a biotechnology company focused on enhancing productivity in aquaculture and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON), announces that Health Canada has concluded its review of the AquAdvantage Salmon ("AAS") and has approved it for commercial sale in Canada. Additionally the Animal Feed Division of the Animal Health Directorate of the Canadian Food Inspection Agency (CFIA) has determined that feed ingredients derived from AAS do not present livestock feed safety or nutrition concerns when compared with feeds derived from other permitted salmon to be used as livestock feed in Canada.

Ronald L. Stotish, Ph.D., Chief Executive Officer of AquaBounty, commented: "We are pleased to receive the approvals of the various authorities of Canada, which means we can produce, sell and eat our AquAdvantage Salmon in Canada. We thank the scientists in the Ministries of Health, Food Inspection and Fisheries of the Canadian Government for carrying out their assessments diligently and confirming the safety of our salmon for both the consumer and the environment.

"Alongside the approval by the FDA in November 2015, there are now two independent reviews by two of the most sophisticated and demanding regulators in the world and both have come to the same conclusion. We look forward to bringing our nutritious salmon to consumers to enjoy in an environmentally responsible manner without damaging and exploiting the oceans, with the assurance it is as safe and healthy as the Atlantic salmon they are eating now."

Health Canada Safety Assessment

Health Canada (HC), the department of the government of Canada with responsibility for national public health, conducted a comprehensive assessment of AAS according to the Codex Alimentarius Guideline for the Conduct of Food Safety Assessment of Foods Derived from Recombinant-DNA Animals. These guidelines are internationally accepted principles for establishing the safety of foods with novel traits. The safety assessment considered:

   --     how AAS was developed; 
   --     how the composition and nutritional quality of AAS compares to non-modified salmon; 
   --     what the potential is for AAS to be toxic or cause allergic reactions; and 
   --     the health status of AAS. 

The Health Canada review concluded that AAS does not raise concerns related to food safety. The Department also noted its opinion that fillets derived from AAS are as safe and nutritious as fillets from currently available farmed Atlantic salmon.

Health Canada Notes Previous Determination by Fisheries and Oceans Canada

The report produced by Health Canada noted that Fisheries and Oceans Canada (DFO) conducted an environmental and indirect human health risk assessment in 2013 for fish products of biotechnology, which concluded that there was no concern for the environment or indirect human health from the contained production of these fish.

CFIA Determination

The Animal Feed Division (AFD) considered both intended and unintended effects and similarities and differences between AAS and unmodified salmon relative to the safety and nutrition of feed ingredients derived from AAS for their intended purpose, including:

-- the potential impact of AAS on animal health and human safety, as it relates to the potential transfer of residues into foods of animal origin and worker/bystander exposure to the feed;

   --     the potential impact of AAS on livestock nutrition; and 
   --     the potential impact of feeds derived from AAS on the environment. 

The AFD also considered whether feeds derived from AAS meet the definitions and requirements of feeds as listed in Schedule IV of the Feeds Regulations. It concluded that, as of 19 May 2016, feed ingredients derived from AAS are authorized for use in livestock feeds.

For further information, please contact:

   AquaBounty Technologies, Inc.                                 [phone] 

David Frank, Chief Financial Officer

   Stifel Nicolaus Europe Ltd                                         [phone] 

Stewart Wallace

   Luther Pendragon Ltd                                                [phone] 

Harry Chathli, Claire Norbury

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About AquaBounty Technologies, Inc.

AquaBounty Technologies, Inc. is a publicly traded company whose largest shareholder is Intrexon Corporation (NYSE: XON). Intrexon is a synthetic biology company with diverse interests in medicine, food and agriculture, and fuels and the environment. AquaBounty is an aquaculture company focused on improving productivity in commercial aquaculture, a $157 billion industry and the fastest-growing segment of the worldwide food industry. AquaBounty's objective is the application of biotechnology to ensure the availability of high-quality seafood to meet global consumer demand. AquaBounty is developing products to address critical production constraints in the most popular farmed species, focusing initially on salmon and trout. Its AquAdvantage fish program is based upon a single, specific trait that results in more rapid growth, particularly in early development.

Safe Harbor Statement

Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives, and expectations for the development of our business, including the commercial availability of our products. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives, and expectations expressed in this press release.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 20, 2016 02:00 ET (06:00 GMT)