Thursday, 12 December 2024 — GM Watch
GM salmon company AquaBounty shuts down operations
The troubled biotechnology company AquaBounty has announced it will stop production of all genetically modified salmon and is closing its last working facility, at Bay Fortune in Prince Edward Island (PEI), Canada, reports Canadian Biotechnology Action Network (CBAN). AquaBounty released the world’s first GM food animal – a GM salmon – onto the market in 2017 but is now culling the last of its fish. Yesterday, the company announced that it does not have sufficient liquidity to maintain its “only remaining operating farm” at Bay Fortune and its chief executive officer, David Melbourne, has resigned. “This struggling company has survived largely due to investor hype along with decades of government funding and the support of the federal policy to deny consumers mandatory labelling of GM food. The company couldn’t make producing GM salmon viable even with all the government subsidies and supportive policies,” said Lucy Sharratt, coordinator of CBAN. AquaBounty’s announcement comes just weeks after the Canadian federal and PEI governments announced $231,095 in funding for the company. GMWatch
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