Plastomics secures additional funding to expand what’s possible with biotech traits
ST. LOUIS, MO - November 16, 2021
Plastomics, a leading developer of row crop biotech trait technology, announced it has secured $7.1 million for its Series A round of funding, led by Lewis & Clark AgriFood, with participation from St. Louis based firms BioGenerator, the Yield Lab, and iSelect in addition to Fulcrum Global Capital. BioGenerator, iSelect, and the Yield Lab are all existing investors.
Plastomics is developing a novel trait delivery technology that places beneficial traits in the chloroplast of plant cells rather than the nucleus. This can help crops, including corn and soybeans, better withstand the pressure of insects, diseases and weeds while delivering higher yields.
“Biotechnology companies continue to develop multi-trait stacks for their most advanced seed packages, but conventional genetic modification focused on the nucleus doesn’t deliver nearly the expression levels possible in the chloroplast,” said Dr. Martha Schlicher, CEO of Plastomics. “Our technology can deliver beneficial multi-trait stacks at high expression levels providing for greater insect and disease control benefits, which will fill a strong market need.”
Plastomics was founded in St. Louis because of ready access to best in class agricultural talent and the intellectual and physical assets at the Donald Danforth Plant Science Center (DDPSC). Plastomics is also the recipient of a Wells Fargo IN2 grant that fostered additional collaboration between DDPSC investigators and Plastomics.
“Chloroplasts have long been thought to be interesting targets for trait development, but have proven quite difficult to manipulate,” said Dr. Jim Carrington, President and CEO of the Donald Danforth Plant Science Center. “Plastomics’ breakthrough technology will give seed producers the benefits of a simplified product development platform, which offers great benefits for feeding a growing population in more sustainable ways.”
As part of its this investment, Steve Welker, Operating Partner of Lewis & Clark AgriFood, and John Peryam, Partner of Fulcrum Global Capital, will be joining the Plastomics board of directors.
“The future of seed and crop protection is going to rely heavily on continued advancement in trait technologies, and the ability to stack these traits is paramount,” said Welker. “The work Plastomics is leading will deliver tremendous value throughout the agriculture industry.”