NewLeaf Symbiotics, Inc. today announced the completion of a $7.0 million round of financing. Investors in the syndicate include Rockport Capital, Open Prairie Ventures, Pangaea Ventures, and several individuals.
NewLeaf Symbiotics is an agricultural biotech firm that is commercializing a family of beneficial bacteria known as PPFMs (Pink Pigmented Facultative Methylotrophs). PPFMs are ubiquitous in nature and have been shown to improve plant health, promote early growth, and increase crop yield.Tom Laurita, NewLeaf Symbiotics’ CEO, commented on the investment partners, "We have assembled a terrific syndicate that will definitely be helpful to the company as we move through the next stage of development."
Kevin Kopczynski, Partner at RockPort Capital said, "We are extremely excited about the potential of NewLeaf and have partnered with a very strong and experienced management team to bring the benefits of this patented technology to market."
Keith Gillard, General Partner at Pangaea Ventures commented, "Pangaea's interest in agricultural biologicals as advanced materials has been strongly reinforced by all the recent excitement in biocontrols acquisitions. NewLeaf, with its strong IP and world-class team, is perfectly positioned for a huge win in this space."
Jason Wrone, Partner at Open Prairie Ventures, said, "With our dedicated focus on agriculture technologies we track many opportunities across this sector. We believe that the scientific advances reported by NewLeaf Symbiotics make this the most compelling opportunity in the burgeoning biocontrols market today.”
With this round of financing completed, NewLeaf is well positioned to further its field trials across a number of key market segments, advance product formulation efforts, and to expand its growing portfolio of intellectual property.
About NewLeaf Symbiotics:
NewLeaf Symbiotics is a development stage company based in the Bio-Research & Development Growth (BRDG) Park at the Danforth Plant Science Center in St. Louis, MO. Formerly known as TrophoMax LLC, NewLeaf is commercializing Pink Pigmented Facultative Methylotrophs (PPFMs) for broad applications to the agriculture and horticulture industries. PPFMs are microorganisms that supply several essential nutrients that all plants need to grow. When PPFMs are applied to plants in a prescribed manner, the plants have been shown to grow faster and stronger, and to generate higher yields. Utilizing symbiotic microorganisms such as PPFMs to enhance plant growth and health can reduce the need for synthetic chemicals and other treatments, resulting in more profitable and sustainable farming.