AgBiome start-up raises $14.5 million
The new US agricultural biotechnology company, AgBiome (Research Triangle Park, North Carolina), has raised $14.5 million from strategic investors to advance the firm’s research and development programmes and support the launch of its first products. “This is the first time to our knowledge that several major agricultural companies have co-invested at an early stage in an agbiotech company,” says AgBiome co-founder John Ryals “Their involvement creates an excellent starting point for future collaborations and market access,” he adds. The company is applying genomics and screening technologies to identify plant-associated micro-organisms that enhance plant health, pest resistance and yield. Its first product will be aimed at the control of soil-borne diseases of greenhouse and arable crops.