AgroPages-PlantResponse Biotech raises 5.7 million € in series A funding-Agricultural news

PlantResponse Biotech, an agrobiotechnology company, closed a Series A round of 5.7 Million €. The financing round was lead by Monsanto Growth Ventures and included a mix of institutional and strategic investors including, Caixa Capital Risc, the venture capital division of “la Caixa”, Middleland Capital, and Novozymes.

This financing will enable PlantResponse to develop and bring to the market its current portfolio of products, to register and launch novel products, and to increase the company R&D team and technology pipeline. Eduardo Quemada, the CEO, plans to advance several products through the Plant Response platform: “We are delighted to attract leading strategic investors through our Series A financing. Their support will be instrumental to achieving company goals for the coming years”.

PlantResponse has developed a broad portfolio of biological products based on known modes of action focused in two key areas

i) novel biological products derived from plants and microorganisms that improve crop vigor, and enhance crop resistance to biotic and abiotic stresses;

ii) plant genes (traits) for crop breeding to develop new varieties with increased yield and resistance to stresses.

PlantResponse has a strong IP portfolio, including ownership and proprietary rights for 6 patents and 10 products. Recently, a major milestones was achieved when the USPTO granted the company a new patent for a novel gene enhancing crop drought tolerance.