AQUABOUNTY reports $2.8m H1 loss; Ships GM salmon to Panama; “FDA approval longer than anticipated” 

Written By:  Bertrand Charron
Category:  Science & Society
Date Posted:  9/26/2011 1:02 PM
  AQUABOUNTY reports $2.8m H1 loss; Ships GM salmon to Panama; “FDA approval longer than anticipated”

  London AIM-listed AquaBounty Technologies (ABTX)'s Interim H1 results ending June 30th were released Friday (September 23rd). The US biotech firm is the 'maker' of the transgenic/genetically modified (GM) AquAdvantage Salmon ('AAS') currently pending US Food and Drug Administration (FDA) approval which – if so obtained – would become the first GM animal destined for human consumption and thus create a 'precedent' feared by many across the globe. AquaBounty said it had in the first half of 2011 shipped “a new batch of AAS fry” [i.e. GM salmon] to Panama for grow-out. Indeed, whilst the firm can not market the GM fish, it has been growing them for well over a decade for experimental purpose in landbased and closed-contained facilities in the Canadian province of Prince Edward Island (PEI), and has recently been growing them in Panama as well. In 2010, the country's authorities had ordered the destruction of a previous GM salmon batch “in order to comply with the country’s international commitments” under the Cartagena Protocol. Last year the GM salmon issue rebounded and was taken up by most international media when the FDA approval process was stepped up with public hearings in Washington DC and that the FDA has expressed in a preliminary analysis the opinion in August 2010 that the AAS appeared “as safe to eat as food as other Atlantic salmon.” AquaBounty, which reported Friday a net loss of US$ 2.8 million (vs $2.5 milion in H1 2010), also said it would continue to “excerice tight control on cash” [in July, ABTX had announced it had reduced the numbers of its Board Directors from 8 to 5]. CEO Ronald Stotish commented: “While the approval process has taken longer than anticipated, we strongly believe that the FDA is moving towards a successful conclusion.More details below & Click here for more GM salmon news on the SeafoodIntelligence News Database.

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