ALBANY — The Bell Aquaculture fish farm has been sold for $14 million to a biotech company focused on building better fish.
Bell's trout, perch and coho salmon farm, including two dozen indoor tanks containing 70,000 gallons of water each, had been hailed as a model of land-based, containment aquaculture.
Then Bell faced a series of lawsuits in 2015 and 2016, including complaints for unpaid debts.
The new owner, AquaBounty Technologies, based in Maynard, Mass., in 2015 obtained the U.S. Food and Drug Administration's first approval for a genetically engineered (GE) animal intended for food: AquaAdvantage Salmon. It reaches market size more quickly than non-GE, farm-raised Atlantic salmon.
Rather than the term GE, "we prefer 'precision bred,' " AquaBounty spokesman Dave Conley told The Star Press. "We have a 28-year experience with AquaAdvantage Salmon, making it perhaps the most studied food in the world. Two major regulatory agencies have concluded it is identical to the traditional Atlantic salmon enjoyed by consumers."
Intrexon Corp. ("Committed to Building a Better World Through Better DNA") is the majority investor in AquaBounty.