Court ruling gives AquaBounty's GM salmon another lift

AquaBounty Technologies, a developer of genetically modified salmon, is riding a wave of good fortune after a Canadian court endorsed the government’s decision to produce the company’s fish product for commercial use.

The Federal Court of Canada ruled that the decision to allow for the commercial sale of AquAdvantage Salmon in Canada made by the Ministers of Environment and Health was, in fact, “reasonable and made in the manner prescribed by the Canadian Environmental Protection Act, 1999..” Alongside its endorsement, the court also threw out an application brought forth by the Ecology Action Centre and Living Oceans Society.

“We are delighted but not surprised that the Federal Court of Canada has agreed with the Ministers of Environment and Health of Canada that our salmon eggs are not harmful to the environment or human health when produced in contained facilities,” said Aquabounty chief executive Ronald L. Stotish according to Proactive Investors UK. “This should allay any remaining fears consumers may have about our fish. The ruling also affirms that Canada has one of the most stringent regulatory systems in the world.”

Last month, the U.S. Food and Drug Administration (FDA) also gave the biotech group’s genetically modified salmon products the greenlight for production, sale and consumption. The salmon in question is Atlantic salmon said to reach market size at a faster rate than the typical farm-raised fish.

"We are motivated by our desire to bring to market the most sustainably raised, healthy and nutritious food to consumers and to satisfy the needs of an ever-increasing population. This decision will allow us to move forward to deliver this goal," Stotish concluded.

As of 24 December, AquaBounty’s shares have jumped 33 percent, per London figures.

 

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