MBI raises $25.4 m to fund expansion
The US biopesticide company, Marrone Bio Innovations (MBI - Davis, California), has raised $25.4 million from a private round of financing. Among the new investors is Syngenta’s venture capital subsidiary, Syngenta Ventures. The funds will be used to expand global sales of MBI’s disease resistance activator, Regalia ( Reynoutria sachalinensis extract), and the launch of its Pseudomonas fluorescens-based mussel control product, Zequanox. The funds will support the introduction of other pipeline products and the development of new nematicides, herbicides and fungicides, MBI points out.