New York, New York, USA
August 5, 2014
BreedIT Corp., (OTCQB: BRDT) through its Israeli subsidiary BreedIT Ltd., the exclusive worldwide license holder and distributor of iBreedIT®, a leading Intelligent Decision Support System (IDSS) for plant breeders and researchers, is pleased to announce the completion of the iBreedIT® English interface for the US market. Already widely used by breeders in Israel, the Company will launch the product in the US in the fourth quarter of 2014.
The proprietary iBreedIT® software was developed by the Hebrew University of Jerusalem and has been instrumental in the development of many of the crops consumed around the world every day, including the Daniela tomatoes-on-the-vine.
Unlike other breeding protocols that modify the genetic makeup of seeds (GMO) to develop new plant strains, BreedIT's platform enables researchers to tag the desired genes and then nurture the development of seeds with the sought after characteristics. iBreedIT also facilitates research and development by enabling breeders to manage and analyze data quickly, resulting in improved product quality and reductions in time to market and development costs.
In July of this year, Dr. Oded Sagee, BreedIT's Ltd Founder and Chief Executive Officer, and Yoel Yogev, Chairman of the Board, beta-tested the interface with a selected group of medical cannabis growers inDenver, Colorado, considered by many to be the bellwether market for the industry.
Commenting on the US launch, Dr. Sagee stated, "The medicinal cannabis market is a natural fit for our technology. With millions of dollars at stake, being first to market is a real competitive advantage for breeders and developers. However, because the end product of Medical Cannabis is administered to children and adults, many with serious health issues, it is critical that this process be managed with care, including proper testing protocol, comprehensive documentation and uniform plant development. The iBreedIT platform was created specifically to provide breeders and researchers with the tools to achieve those objectives."
Dr. Sagee went on to say, "The trip to Denver confirmed our strategy to pursue the US medical cannabis market, where participants face a lot of regulatory scrutiny. Grower reaction to the iBreedIT platform was extremely positive and we have subsequently begun negotiations with several potential licensees and research partners."
Dr. Alan Shackelford, BreedIT's Chief Medical Advisor and member of the Scientific Advisory Board, talked further about opportunities within the medical cannabis market, saying, "Acknowledgement of cannabis as a valid treatment for a variety of medical conditions is accelerating as the evidence of its effectiveness mounts. New protocols and applications are being investigated every day, often for conditions where traditional pharmaceuticals have proven ineffective and time is of the essence. The iBreedIT platform reduces the time and cost of plant development, and in turn, expedites breeders' ability to safely get new cannabis strains to the patients that need them."
BreedIT Corp (BRDT), through its Israeli subsidiary, BreedIT Ltd, is the developer of highly sophisticated agro-breeding solutions for plant breeders and researchers. BreedIT's proven iBreedIT® - the Intelligent Decision Support System (IDSS) for breeders which was developed by a team consisting of among the world's leading breeding specialists for optimizing the breeding processes, services the plant breeding needs of corporations, research and government institutions. BreedIT's IDSS provides advanced solutions for generating and disseminating knowledge aimed at assisting breeders to plan, manage and analyze their breeding data and to perform research activities quickly and effectively. Founded in 2010, BreedIT Corp has offices in New York, New York and in Rehovot, Israel.
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