Apr 3, 2024

BioConsortia field trials spur investments

BioConsortia Inc., which discovers, designs and licenses microbial products, has closed an internal financing round of $15 million that will fund expanded development of products designed to increase crop yields by fixing nitrogen or controlling nematode, fungal and soil insect pests.

Existing investor Otter Capital led the round, spurred by progress shown in recent field trial results, as well as new discoveries that further enhance BioConsortia’s microbial gene-editing leadership position.

“We have validated the consistency and impact of our nitrogen-fixing seed treatments through hundreds of field trials across a wide array of crops in recent years,” Marcus Meadows-Smith, BioConsortia CEO, said in a news release. “This announced investment underlines our confidence that these technologies, with their extended shelf- and on-seed life, set a new standard for nitrogen-fixation products.”

The raise will fund broadened field trial programs in key agricultural regions around the world. With recent discoveries that further BioConsortia’s leadership in microbial gene-editing, the Company will also invest in expanding its intellectual property estate.

BioConsortia will also use the proceeds to enlarge its Davis, California, lab to accommodate a growing microbial gene-editing team, and upgrade fermentation and formulation capabilities at its headquarters, as the company’s biofungicide, bionematicide, postharvest decay control and nitrogen-fixing products approach commercialization starting this year.