WEBVTT - The Evolution of Gene-Edited Crops

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<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 1>Steneveek on Bloomberg Radio.

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<v Speaker 2>Well, the European Commission, the EUS regulator, proposed yesterday a

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<v Speaker 2>set of laws that tackle gene edited plants, food and

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<v Speaker 2>textile waste, soil health and seeds. They will complement an

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<v Speaker 2>earlier package to green sectors from transport to energy and

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<v Speaker 2>trade in a bid to put Europe on track to

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<v Speaker 2>meet its new twenty to thirty goal of reducing emissions

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<v Speaker 2>by at least fifty five percent from nineteen ninety levels.

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<v Speaker 2>The proposal aims to ease regulations for crops made with

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<v Speaker 2>so called new genomic techniques ngts. So we're going to

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<v Speaker 2>get into this a little bit of an explainer for

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<v Speaker 2>you all. Rory Riggs is CEO the publicly held small

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<v Speaker 2>cap company Sibis, which develops in linessiness plant trades to

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<v Speaker 2>seed companies. He joins us here in our Bloomberg Interactive

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<v Speaker 2>Broker studio at the stock by the way, is at

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<v Speaker 2>one hundred and ten percent so far here in twenty

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<v Speaker 2>twenty three, and there was a merger.

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<v Speaker 3>So a lot of things happening for you guys. Welcome, welcome,

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<v Speaker 3>nice to have you here.

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<v Speaker 4>Thanks for vetting me.

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<v Speaker 3>So tell us a little about your company. Dig a

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<v Speaker 3>little bit deeper.

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<v Speaker 2>I gave it a quick little explainer, but tell us

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<v Speaker 2>what you guys are exactly doing.

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<v Speaker 4>What we're doing. We are the leaders in the post

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<v Speaker 4>GMO world. And the post GMO world is called gene editing,

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<v Speaker 4>and gene editing.

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<v Speaker 3>Because GMO was genetically modified.

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<v Speaker 4>Yes and okay, so go ahead, but genically modified it

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<v Speaker 4>to if they take foreign DNA or transgenes and put

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<v Speaker 4>them into plants, and because of it, they get things

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<v Speaker 4>called traits. BT is the most famous one. It's an

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<v Speaker 4>engineered protein that makes the plant poisonous insects, and when

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<v Speaker 4>insects eat it, they die. And so this trait got

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<v Speaker 4>rid of a lot of INSTANCEX that i'd use the

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<v Speaker 4>great productivity, but you still had a plant that had

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<v Speaker 4>this engineered protein stuck in it. What the gene editing

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<v Speaker 4>guys do is they hijack nature's own way, and so

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<v Speaker 4>they just only make changes that could naturally occur on

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<v Speaker 4>their own. And that's why it's been It's a big

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<v Speaker 4>advance in the technology. You see it in human stuff.

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<v Speaker 4>It's an industrial field. And so the idea that if

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<v Speaker 4>you could take plants and they have their own natural

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<v Speaker 4>repair mechanism. If you could take that repair mechanism and

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<v Speaker 4>make the repair. That said, if you have these genes

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<v Speaker 4>that this other plant has, maybe you won't get skeleitinia.

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<v Speaker 4>You won't need fungicide for it, or you won't need

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<v Speaker 4>it'll give you different traits.

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<v Speaker 2>These traits are so basically, are you weeding out the

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<v Speaker 2>bad stuff?

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<v Speaker 4>No, I think because that's.

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<v Speaker 3>Genetically modified to some extent.

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<v Speaker 4>Right, Yeah, nothing, we'd do. We will we will never

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<v Speaker 4>have a product that couldn't have occurred in nature. Okay,

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<v Speaker 4>that's the most important thing what we would do. So

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<v Speaker 4>for our first trade for disease for squeritinia, there's Atinia

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<v Speaker 4>is a white mold. It happens in like the oil

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<v Speaker 4>seed plants, and it causes major yield losses and cost

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<v Speaker 4>of fortune to fungicides to manage. And so the idea is,

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<v Speaker 4>if we there's some plants that don't get this disease, right,

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<v Speaker 4>so if you.

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<v Speaker 2>Could figure out that naturally occur in nature, yes, so

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<v Speaker 2>you're going to replicate that.

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<v Speaker 4>They're going to replicate that exactly right, That's exactly what

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<v Speaker 4>we're doing. And so Suddenly these plans won't need fund

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<v Speaker 4>you side, and these plants won't have this disease. And

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<v Speaker 4>that's the nature of what we're trying to do. And

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<v Speaker 4>there's so many big diseases where this works. And these

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<v Speaker 4>diseases from rust to serium, these are diseases. They're killing crops,

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<v Speaker 4>and these are diseases. And now there's a hope that

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<v Speaker 4>you could make changes in real time. You know, the

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<v Speaker 4>whole there's two things going on. It's one this technology

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<v Speaker 4>to make changes as though they were natural, and two

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<v Speaker 4>to be the ability to do it in the fraction

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<v Speaker 4>of the time and cost of normal breeding. And we

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<v Speaker 4>talk about is agriculture has never had their technology moment.

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<v Speaker 4>They're analog to digital moment. Just look at breeding and

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<v Speaker 4>you realize this is analog and so they take sixteen

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<v Speaker 4>point five years and we take less than five. That's

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<v Speaker 4>the nature in the real time you could do things.

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<v Speaker 4>You know, even bear yesterday when they said the whole

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<v Speaker 4>porpoise of this new technology is it takes us sixteen

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<v Speaker 4>and a half years, and with this technology, we could

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<v Speaker 4>do it less than five.

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<v Speaker 3>How new is it.

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<v Speaker 4>It's taken us twenty years to get here?

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<v Speaker 3>Why was it so difficult.

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<v Speaker 4>It was difficult not so much to make changes, but

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<v Speaker 4>do it in a way that you know, we were

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<v Speaker 4>building the first trait factory and so that's we're going

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<v Speaker 4>to have biopharmaceutical standards. We expect I think called isostandards

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<v Speaker 4>around it to build those things. Just like in biotech.

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<v Speaker 4>This takes a long time to get the standards correct

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<v Speaker 4>and to be able to master the technology in a

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<v Speaker 4>way that you would say, this isn't magic. This is

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<v Speaker 4>really a scientifically proven way of adapting changes. And all

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<v Speaker 4>the regulators are focused totally on this word. Is it

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<v Speaker 4>a scientific method that is trackable and manasubles you know

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<v Speaker 4>every step of the process what's going on, and that

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<v Speaker 4>just doesn't happen overnight.

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<v Speaker 1>Are regulators starting to get more onboard with GMOs in

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<v Speaker 1>general that can be productive.

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<v Speaker 4>So the regulators. What's happening is the regulators. The Britze

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<v Speaker 4>is a big favor. A couple of years ago they

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<v Speaker 4>wrote a big paper on our technology and explain that

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<v Speaker 4>the traits from our technology you're into signatule from nature

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<v Speaker 4>and they send it out to everybody and since then

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<v Speaker 4>every country's sort of taken two paths. One there's a

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<v Speaker 4>GMO path which could take forever to get proved and

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<v Speaker 4>treated like a drug, and another path for gene editing,

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<v Speaker 4>and if you qualify for this path, you will be

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<v Speaker 4>regulated as conventional breeding.

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<v Speaker 1>So you're viewed as gene editing non GMOs and that

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<v Speaker 1>is more helpful in terms of regulation and getting past

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<v Speaker 1>some of the red tape of that regulation and totally definable.

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<v Speaker 4>And so they all have this rules that says if

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<v Speaker 4>you're here like us has it was called you know

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<v Speaker 4>am I Regulator and Secure Act, they have rules and

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<v Speaker 4>if you can prove you fit in these rules so

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<v Speaker 4>you are like nature, they're going to say go. And

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<v Speaker 4>that's what Europe when you read through their things, that's

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<v Speaker 4>what they're saying.

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<v Speaker 2>Also, can every plant be gene edited? Yes, because you've

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<v Speaker 2>done it.

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<v Speaker 3>Already or no.

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<v Speaker 4>No, our focus as you would hope. There's five big

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<v Speaker 4>crops that are like five hundred million acres and that's

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<v Speaker 4>what you want me to be focused on. You want

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<v Speaker 4>you can't grow these crops in vertical farms. You need

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<v Speaker 4>something like us to be able to make changes so

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<v Speaker 4>that they can fight nature themselves.

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<v Speaker 3>So what are the crops that you guys do?

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<v Speaker 4>Then we started with canola and rice, and for us

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<v Speaker 4>our technology to work, we need to be able to

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<v Speaker 4>take a single cell and grow it into a plant

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<v Speaker 4>that allows us to then edit that cell. Somebody sends

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<v Speaker 4>us their plant, we can take a single sell and

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<v Speaker 4>grow and that's called a fancy word called a protoplast model.

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<v Speaker 4>But the ideas we've done it in two crops, and

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<v Speaker 4>we're really close to soybean. So one by one we're

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<v Speaker 4>going to do this model in canola, rice and soybean,

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<v Speaker 4>and then follow it with wheat and corn. Those are

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<v Speaker 4>your big grains.

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<v Speaker 1>Wheat would be huge for I mean, they're obviously all huge,

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<v Speaker 1>but I just can't help but think about the impact

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<v Speaker 1>that you know, the Russian invasion of Ukraine has had

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<v Speaker 1>in terms of wheat production and access to food globally.

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<v Speaker 3>It's been cataclysmic, and they all have.

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<v Speaker 4>One disease, like in wheat rust. If you can solve rust, god,

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<v Speaker 4>you change the whole farmer's mode. And that's the promise

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<v Speaker 4>our techn energy can do.

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<v Speaker 2>So Rory, who are your biggest customers, the seed companies,

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<v Speaker 2>all of them, that's the idea. You're Monsanto's, You're like

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<v Speaker 2>all of them.

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<v Speaker 4>Yeah, So our Our vision of breeding is something we

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<v Speaker 4>call a high throughput gene editing system that works as

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<v Speaker 4>a service industry to the seed companies, right, and so

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<v Speaker 4>we can do it and just as they're getting ready

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<v Speaker 4>to launch, they send us their elite germ plasm and

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<v Speaker 4>we can which which was just the the germ plasm

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<v Speaker 4>they're ready to launch, they can ship us. We can

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<v Speaker 4>then take that germ plasm, edit it and grow back

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<v Speaker 4>their plant with everything that had plus our edits, and

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<v Speaker 4>give it back to them. And we can do that

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<v Speaker 4>in years.

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<v Speaker 3>So the edits are the things that.

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<v Speaker 4>You that we do.

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<v Speaker 3>But it's years.

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<v Speaker 4>Yeah, well it's years because you have to grow these plants.

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<v Speaker 4>You can't fight nature.

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<v Speaker 3>How long take go through the process, right, Yes, so that.

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<v Speaker 4>If you do it, if you edit a seed, it

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<v Speaker 4>could take a year for that seed to be a plant, right,

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<v Speaker 4>you can't short circuit that. But soon after that and

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<v Speaker 4>then we have the same type of quality assurance things

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<v Speaker 4>you would hope to make sure you're safe. So we're

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<v Speaker 4>the we're curating a new industry. So it's so desperate

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<v Speaker 4>that we do it correctly. Yeah, it makes sense, and

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<v Speaker 4>so that's why it does.

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<v Speaker 2>It's really it's really interesting. The process all done in

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<v Speaker 2>a lab. I'm assuming right, it's all.

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<v Speaker 4>Done in the lab, and we're really excited. Soon we're

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<v Speaker 4>gonna announce we call it a trade machine. We have

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<v Speaker 4>something called our TDS, which just a rapid trade development system,

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<v Speaker 4>which is the first end to end system. If you

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<v Speaker 4>did it here, we can track a series of step

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<v Speaker 4>wise change just to hear, so you can manage it.

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<v Speaker 4>And we're going to make a we called a traite machine,

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<v Speaker 4>a factory that's going to be able to do this.

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<v Speaker 3>I want to get right back to Rory Riggs.

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<v Speaker 2>He's chief executive officer of Sibis, as we said, publicly

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<v Speaker 2>held small cap company. He is still with Maddie and

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<v Speaker 2>me in our Bloomberg Interactive Broker studio.

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<v Speaker 3>And I keep saying that.

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<v Speaker 2>The stock is up a ton, but as you say,

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<v Speaker 2>you guys merged with Klyx, right, and so that certainly

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<v Speaker 2>impacts in terms of what the share price, and that

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<v Speaker 2>I think happened in June. Yes, yeah, so do my

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<v Speaker 2>favorite tell us in our audience a little bit about

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<v Speaker 2>your background.

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<v Speaker 4>So I went to Middlebury College and Columba University, and

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<v Speaker 4>I was I came to an investment bank in New York,

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<v Speaker 4>there was a leader in biotech, and so we were

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<v Speaker 4>all there when Gentecho in public and am Genuine public

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<v Speaker 4>and a lot of us all went off to be

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<v Speaker 4>entrepreneurs in biotech. And so I've started a bunch of

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<v Speaker 4>companies in biotech. Company called sud Gen was just the

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<v Speaker 4>first kindness inhibitor company. And I ran a company called Biomatrix,

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<v Speaker 4>which was the first company that took hyaluronic acid and

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<v Speaker 4>replaced your synolvia fluid. And I started a company called

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<v Speaker 4>Royal gy Farm, which.

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<v Speaker 3>Many carolantic acid is like the stuff that's all in

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<v Speaker 3>people's skin.

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<v Speaker 1>I was like, I know what that.

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<v Speaker 4>Is, right, it is that's laws invented this field, right, Yeah.

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<v Speaker 2>But it's really well when you think about genetics more broadly,

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<v Speaker 2>whether it's in plants or whether it's in medicine, I

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<v Speaker 2>mean holds the answers to a lot.

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<v Speaker 4>Who holds all the answers, especially for seeds, because seeds

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<v Speaker 4>are basically just germplasms and traits. There's not organs in there.

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<v Speaker 4>So the whole characteristics of a seed is based one profile, right, right,

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<v Speaker 4>And so that's that's what you're playing with it. That's

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<v Speaker 4>why It's so much like a movie, right change.

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<v Speaker 1>And in terms of the movie aspect of it, just

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<v Speaker 1>to get like, really worst case scenario here, if we

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<v Speaker 1>end up totally bad news climate change, can this completely

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<v Speaker 1>replace our food sources? Someday it's not going to.

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<v Speaker 4>Place the feod sources, but suddenly, you know, we can

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<v Speaker 4>totally make crops that are more efficient in the use

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<v Speaker 4>of water. You know, we're totally making things that are

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<v Speaker 4>more efficient than use of fertilizer, heat resistance. These are

0:10:35.160 --> 0:10:37.440
<v Speaker 4>all things that are pretty well known, but it needed

0:10:37.480 --> 0:10:39.560
<v Speaker 4>technology to be able to do them. And and and

0:10:39.920 --> 0:10:43.760
<v Speaker 4>you think about it, but diseases in Saskatchewan used to

0:10:43.800 --> 0:10:46.199
<v Speaker 4>be in Alabama, and so they be able to actually

0:10:46.240 --> 0:10:48.560
<v Speaker 4>be and it's not like one thing you're just going

0:10:48.640 --> 0:10:50.880
<v Speaker 4>to have to keep updating it. And so there's no

0:10:50.960 --> 0:10:53.720
<v Speaker 4>question that that that they need us to be successful.

0:10:54.320 --> 0:10:57.000
<v Speaker 1>And in terms and when you think about something like

0:10:57.040 --> 0:10:59.480
<v Speaker 1>the seed vault, for example, how do you rate the

0:10:59.520 --> 0:11:02.319
<v Speaker 1>effectedness of that moving forward?

0:11:03.080 --> 0:11:04.640
<v Speaker 4>It's hard for me to have a strong opinion on

0:11:04.720 --> 0:11:08.760
<v Speaker 4>that without getting in trouble totally fair, you know, I

0:11:08.760 --> 0:11:10.840
<v Speaker 4>think it's a really important thing. But for the moment,

0:11:11.080 --> 0:11:14.400
<v Speaker 4>you know, we're dealing with major seed companies who like us,

0:11:14.840 --> 0:11:17.200
<v Speaker 4>no farmers have a challenge. And then and the good

0:11:17.240 --> 0:11:20.160
<v Speaker 4>thing is that the seed companies aren't resisting us. They

0:11:20.200 --> 0:11:23.200
<v Speaker 4>think it's a really important technology for them and they're

0:11:23.200 --> 0:11:27.040
<v Speaker 4>working with That's that's me My biggest takeaway.

0:11:27.240 --> 0:11:31.400
<v Speaker 2>Is it about increasing productivity or just increasing the likelihood

0:11:31.440 --> 0:11:32.880
<v Speaker 2>of just having a good crop.

0:11:35.880 --> 0:11:40.400
<v Speaker 4>It's hard to differentiate those two topics. So because you're

0:11:40.600 --> 0:11:43.840
<v Speaker 4>for some disease traits, it's not it doesn't exist everywhere.

0:11:43.920 --> 0:11:46.480
<v Speaker 4>It's just sort of you you're increasing your probability that

0:11:46.520 --> 0:11:48.480
<v Speaker 4>your crop. There's like a yes or nos. You're saying,

0:11:48.480 --> 0:11:51.720
<v Speaker 4>how do I do something that says every five years

0:11:51.720 --> 0:11:53.880
<v Speaker 4>I die? So I'm pay you a little bit to

0:11:54.400 --> 0:11:56.880
<v Speaker 4>not have that happen, And so that everything you're doing

0:11:56.960 --> 0:12:00.360
<v Speaker 4>is trying to make the statistical odds of that crop

0:12:00.640 --> 0:12:02.520
<v Speaker 4>performing the way you wanted to crop, because you don't

0:12:02.600 --> 0:12:04.280
<v Speaker 4>really know what the weather is going to be every season.

0:12:04.559 --> 0:12:05.920
<v Speaker 4>But that's what they're all paying for.

0:12:06.559 --> 0:12:08.080
<v Speaker 3>What I wanted to ask you is I'm thinking about

0:12:08.080 --> 0:12:08.520
<v Speaker 3>our audience.

0:12:08.600 --> 0:12:12.480
<v Speaker 2>You're listening and hopefully everybody's following along, you know, because

0:12:12.480 --> 0:12:14.520
<v Speaker 2>that's pretty heavy stuff in terms of what you guys

0:12:14.520 --> 0:12:17.840
<v Speaker 2>are doing, and I just think about, you know, in

0:12:17.920 --> 0:12:20.839
<v Speaker 2>terms of an investment audience, how should they be thinking

0:12:20.880 --> 0:12:25.360
<v Speaker 2>about what you are doing about food production more broadly,

0:12:26.200 --> 0:12:28.680
<v Speaker 2>because things are changing, things are being disrupted, there's lots

0:12:28.679 --> 0:12:31.400
<v Speaker 2>of innovation going on. I think food and agg production

0:12:31.480 --> 0:12:34.520
<v Speaker 2>have really lagged in terms of some innovation.

0:12:35.000 --> 0:12:36.280
<v Speaker 3>Beyond Yeah, I.

0:12:36.240 --> 0:12:39.040
<v Speaker 4>Have like a simpler thing because we have these five

0:12:39.120 --> 0:12:41.439
<v Speaker 4>major crops and we've already working. Like in Canola, we

0:12:41.520 --> 0:12:44.080
<v Speaker 4>have four different traits we're working on, and each of

0:12:44.120 --> 0:12:45.679
<v Speaker 4>them are as big as the next one because you're

0:12:45.679 --> 0:12:47.960
<v Speaker 4>solving different problems. I almost like to look at a

0:12:47.960 --> 0:12:50.520
<v Speaker 4>crop as almost like a therapeutic area, and each of

0:12:50.559 --> 0:12:53.320
<v Speaker 4>the traits are indication. So like in Canola, our first

0:12:53.360 --> 0:12:55.640
<v Speaker 4>indication has been approved and they're launching it, and the

0:12:55.720 --> 0:12:58.240
<v Speaker 4>following indications are in the field and we expect to

0:12:58.240 --> 0:13:01.440
<v Speaker 4>a launch so soon thereafter. These end up being really

0:13:02.120 --> 0:13:05.800
<v Speaker 4>equivalent to giant, billion dollar therapeutic areas. So there's the

0:13:05.960 --> 0:13:10.640
<v Speaker 4>trade I said on BT which makes its kills insects

0:13:10.640 --> 0:13:14.200
<v Speaker 4>to be reduced insecticide use. That trait is now on

0:13:14.320 --> 0:13:18.199
<v Speaker 4>three hundred million acres and they're getting fifteen dollars an acre.

0:13:18.679 --> 0:13:21.199
<v Speaker 4>So that's the size, the scale of the change as

0:13:21.200 --> 0:13:25.120
<v Speaker 4>an investment thesis, the scale that we can address, right,

0:13:25.400 --> 0:13:27.120
<v Speaker 4>is this huge?

0:13:27.320 --> 0:13:29.280
<v Speaker 3>Why is the EU decision so important?

0:13:29.920 --> 0:13:33.400
<v Speaker 4>The EU decision is critical because they started the anti

0:13:33.520 --> 0:13:35.760
<v Speaker 4>GMO movement and they're going to end it. Let's see,

0:13:36.040 --> 0:13:38.800
<v Speaker 4>we joke that the revolution started yesterday. It was really

0:13:38.880 --> 0:13:42.440
<v Speaker 4>important for them to step up and say, because.

0:13:42.360 --> 0:13:44.160
<v Speaker 3>They're comfortable with this, this is different.

0:13:44.520 --> 0:13:46.640
<v Speaker 4>Yes, let's focus on chemicals they want to get at

0:13:46.679 --> 0:13:47.960
<v Speaker 4>the same time they're doing this. They want to get

0:13:48.000 --> 0:13:49.800
<v Speaker 4>rid of fungicides. I want to get rid of inseecticides.

0:13:49.880 --> 0:13:51.840
<v Speaker 4>They can't do it unless we work, and so it's

0:13:51.880 --> 0:13:54.760
<v Speaker 4>really important. But Europe, a lot of the places the

0:13:54.800 --> 0:13:57.559
<v Speaker 4>same with medical devices. A lot of places outside of

0:13:57.600 --> 0:14:00.440
<v Speaker 4>the US follow Europe more than they follow US, and

0:14:00.520 --> 0:14:03.199
<v Speaker 4>so Africa. When the US does this, all of Africa,

0:14:03.240 --> 0:14:07.720
<v Speaker 4>which has been pangmos too, will suddenly start allowing it.

0:14:07.760 --> 0:14:10.600
<v Speaker 4>So it's really important for a lead globally.

0:14:11.080 --> 0:14:14.079
<v Speaker 1>Is gene editing when we bring you back on a

0:14:14.160 --> 0:14:16.400
<v Speaker 1>year from now, is gene editing going to start to

0:14:16.440 --> 0:14:20.320
<v Speaker 1>become a household understood topic.

0:14:22.040 --> 0:14:24.800
<v Speaker 4>I totally think when Europe passes this and people realize

0:14:24.800 --> 0:14:26.560
<v Speaker 4>what it is. I think it'll be a totally understood topic.

0:14:26.600 --> 0:14:28.760
<v Speaker 4>It's easier in humans because humans every disease is a

0:14:28.800 --> 0:14:31.400
<v Speaker 4>little bit different. This you can I know it sounds

0:14:31.480 --> 0:14:34.080
<v Speaker 4>complicated that way I'm describing it, but it's really pretty

0:14:34.080 --> 0:14:37.360
<v Speaker 4>simple to think that with a couple of changes, suddenly

0:14:37.720 --> 0:14:41.760
<v Speaker 4>you if you're in Arizona, suddenly your main crop can

0:14:41.760 --> 0:14:44.480
<v Speaker 4>be grown there right, right right, and that love it.

0:14:44.680 --> 0:14:46.640
<v Speaker 4>People will get there right and that's so I do

0:14:46.680 --> 0:14:48.120
<v Speaker 4>think they'll understand it and support it.

0:14:48.160 --> 0:14:49.880
<v Speaker 3>I tease that I was going to ask you about AI.

0:14:50.000 --> 0:14:53.000
<v Speaker 2>Does AI impact what you guys do potentially or generative

0:14:53.080 --> 0:14:55.720
<v Speaker 2>AI machine learning? Does it help you in the process

0:14:55.800 --> 0:14:58.760
<v Speaker 2>or maybe not yet because it's there's still questions about

0:14:58.760 --> 0:14:59.600
<v Speaker 2>the reliability.

0:15:00.120 --> 0:15:02.880
<v Speaker 4>It's impossible for anybody any scientific field to say AI

0:15:02.960 --> 0:15:06.000
<v Speaker 4>will not have an impact. And genomics, it's pretty cool.

0:15:06.160 --> 0:15:08.320
<v Speaker 3>I appreciate that from a scientist, is.

0:15:08.280 --> 0:15:10.600
<v Speaker 4>That there's thirty thousand genes in these plants to produce

0:15:10.840 --> 0:15:14.880
<v Speaker 4>proteins and in different conditions. So any sort of computer

0:15:15.080 --> 0:15:18.000
<v Speaker 4>modeling which allows you to understand relationships better and put

0:15:18.000 --> 0:15:20.040
<v Speaker 4>them together will always have an impact because you're trying

0:15:20.080 --> 0:15:23.200
<v Speaker 4>to understand better how the diseases of this plant affect

0:15:23.200 --> 0:15:25.840
<v Speaker 4>diseases in this plant, and so it's a fundamental part

0:15:25.840 --> 0:15:29.560
<v Speaker 4>of this industry. And the cool thing is these plants

0:15:29.600 --> 0:15:32.280
<v Speaker 4>all have similar structures. They're a little bit different, but

0:15:32.360 --> 0:15:35.040
<v Speaker 4>if you solve it in one, suddenly you can use

0:15:35.280 --> 0:15:37.600
<v Speaker 4>AI type technologies to make sure you understand how to

0:15:37.640 --> 0:15:37.800
<v Speaker 4>do it.

0:15:37.760 --> 0:15:39.440
<v Speaker 3>And the rest of them, well, really fascinating.

0:15:39.480 --> 0:15:41.480
<v Speaker 2>My mind's kind of blowing a little bit, but kind

0:15:41.480 --> 0:15:43.560
<v Speaker 2>of love this and let us know how things are going.

0:15:43.760 --> 0:15:45.600
<v Speaker 2>It's really interesting, fascinating, something new.

0:15:46.280 --> 0:15:49.000
<v Speaker 4>Thanks for having me. It's a treat. We're desperately trying

0:15:49.040 --> 0:15:51.240
<v Speaker 4>to let people understand what this new technology so for

0:15:51.400 --> 0:15:53.360
<v Speaker 4>you said is really important, and we get it at

0:15:53.400 --> 0:15:56.000
<v Speaker 4>the place that people understand it and accept.

0:15:55.800 --> 0:15:56.640
<v Speaker 3>So appreciate it.

0:15:56.840 --> 0:15:59.800
<v Speaker 2>Rory Riggs, chief executive officer of CEBIS, joining us here

0:15:59.800 --> 0:16:01.680
<v Speaker 2>in Bloomberg Interactive Brokers Studio