GE salmon advancing in the US with FDA’s blessing
AquaBounty Technologies is expanding genetically engineered salmon production in the United States after receiving approval from the U.S. Food and Drug Administration (FDA) for its new facility near Albany, Indiana.
AquaBounty will raise AquAdvantage genetically-engineered salmon at the land-based contained facility, after FDA issues its labeling guidelines.
Earlier this year, AquaBounty Technologies, Inc., issued an underwritten public offering that was expected to raise USD 12 million (EUR 9.9 million).
“The company currently intends to use the net proceeds of this offering to continue construction and renovation activities of its existing facilities in Rollo Bay [Prince Edward Island, Canada] and Indiana, for working capital costs associated with growing its first batches of fish at our Indiana and Rollo Bay farm sites, and other general corporate purposes…” AquaBounty said in January.
The Indiana facility has a production capacity of 1,200 tons per year and was designed to allow significant expansion.
“With the facility now approved, commercial production of AquAdvantage Salmon awaits only official labeling guidelines by the FDA,” AquaBounty said in a press release.
“This is another milestone in our journey to bring our healthy and sustainable salmon to consumers. We are very pleased the FDA has continued their rigorous science-based review process and approved our application on its merits,” added Ron Stotish, CEO of AquaBounty. “Our Albany facility is within a few hours drive of major markets in Indianapolis, Chicago, Detroit, Cleveland, Columbus, Louisville, and St. Louis, providing us with tremendous opportunity for growth. We still have work to do before we can start production, but we take great pride in this latest accomplishment.”
The FDA previously approved AquaBounty’s New Animal Drug Application (NADA) in November 2015, for the production, sale, and consumption of AquAdvantage Salmon in the United States.