The Yield Lab and BioGenerator co-lead seed round in Plastomics
Sep. 12, 2017
Biotechnology crops have stimulated global economic growth, reduced agriculture’s environmental impact, and produced higher yields over the past 20 years. Plastomics’ technology will help farmers and seed companies meet current challenges facing agricultural biotechnology today: insect resistance, herbicide tolerant weeds, and the need for more trait stacking. Plastomics’ chloroplast engineering platform is a fast, efficient, and more predictable way to introduce multiple traits into important crops that can also reduce time to market. Chloroplast traits are inherited only through seed, which simplifies breeding and eliminates trait escape via pollen, a key stewardship issue for certain crops. Plastomics will enable development of the next generation of high performance crops.
“Our platform will make better, safer, and more effective crops for the future,” said Plastomics’ CEO, Sharon Berberich (pictured). “This round of financing will jump-start our corn chloroplast engineering platform, the only one of it’s kind globally. Once it is applied across major food crops, our technology will ultimately help solve the problem of feeding humankind.”
BioGenerator and the Yield Lab co-led the round. The funds will be used to setup tobacco, soy and corn platforms and to create proof of concept products. “Investing in this extraordinary company and technology is an exciting and promising opportunity. Sustainably feeding the world’s growing population is a major concern and Plastomics’ way of engineering certain traits into crops is the next step for solving this problem,” said Yield Lab Managing Director Chris Danforth.
“The level of Ag industry savvy we have seen and come to expect from Plastomics’ founders has been impressive,” Harry Arader, BioGenerator Director of Entrepreneur Development, said. “The progress we’ve seen from the time we got involved, pre-company to the close of this funding round, is an exciting testament to the strength of the St. Louis bioscience community. We are pleased to continue to support the great progress Plastomics has made over the past year.”
Plastomics is a biotechnology company making better, safer and more effective crops through chloroplast engineering. Innovation and new technology are critical to solving current challenges facing agriculture, including stacking and breeding of multiple crop protection traits. Technologies being used today are limiting and require a lot of time and money. Chloroplast engineering is a platform that can efficiently introduce multiple traits into the chloroplast and enable simple, more predictable breeding of traits.
About The Yield Lab
The Yield Lab brings together new innovative technologies focused on improving productivity, enhancing knowledge, eroding boundaries, and merging historically independent ecosystems into a more cohesive agricultural system.
BioGenerator produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, growing and investing in promising new enterprises. BioGenerator is a nonprofit subsidiary of BioSTL, which advances St. Louis’ prosperity by cultivating a thriving bioscience sector, building regional capacity to capitalize on St. Louis’ world class medical and plant biosciences.