IBI Ag, a pioneering crop protection company developing a wide array of bio-insecticides with a lower ecological footprint, today announced it has successfully closed the first part of its Series A funding round with a $6.1 million investment. This round—led by Corteva, Inc. (“Corteva”), through its Corteva Catalyst platform with the participation of The Trendlines Group (SGX:42T) (OTCQX:TRNLY), Iron Nation, Consensus Business Group (“CBG”) and a grant from the Israel Innovation Authority —underscores the strategic importance of IBI Ag’s innovative biological and naturally-inspired solutions in the global agricultural sector to assist farmers in producing more food by protecting their crops and the global food chain.
IBI Ag has developed technology that leverages single domain antibodies, to produce highly effective crop protection solutions with a low ecological footprint. This technology—adapted from pharma and modified to fit the agricultural market—provides novel modes of action and represents a revolutionary new approach for protecting crops from insects. The products under development target a broad spectrum of insects, both sucking and chewing insects with minimal impact on non-targeted organisms. The company is targeting high value crops to start and will follow with row crop solutions.
“We are thrilled to have the support of our existing and new investors, led by Corteva through their Corteva Catalyst platform,” said Arnon Heyman, Chief Executive Officer, IBI Ag. “This investment will help us to accelerate the development of our single domain antibody technology, providing farmers with sustainable and effective crop protection solutions. We believe our single domain antibody technology is a game changer for driving agricultural productivity while preserving the environment, and the investment announced today is a significant step towards delivering this innovation to farmers across the globe.”
“We see considerable potential for IBI Ag’s bioinsecticides to be a smart solution for farmers to tackle devastating insects while minimizing environmental impacts,” said Tom Greene, Senior Director at Corteva Inc. and Global Leader for Corteva Catalyst. “Our investment aligns with our continued drive to put cutting-edge innovation into the hands of farmers and reflects our strategic focus on accelerating development of next generation biological and naturally inspired solutions.”
