New York-listed seeds developer Monsanto has agreed a partnership with venture capital firm Atlas Venture to invest in early-stage technology companies in the life sciences sector.
Monsanto, which in the 1980s built an $80m direct corporate venturing programme and effectively restarted its programme with deals last year, will work with Atlas to identify strategic investments in a number of technology focus areas within agriculture, including genomics, informatics and biology. The alliance will hire two people to work on the project.
Steve Padgette, Monsanto’s research and development investment strategy lead, said: "Our collaboration with Atlas will provide a great opportunity for us to get an early look at promising new technologies that could potentially be introduced into our biotechnology, breeding and agronomic practices work to drive yields even further."
Jean-Francois Formela, a partner at Atlas Venture, added: "By applying Monsanto’s research-based approach to innovation in agriculture to evaluating new life sciences technologies, we’ll be able to access technology platforms and deep expertise right from the beginning of the company building process."
Since starting in 1980, Atlas has invested in more than 350 companies in at least 16 countries but last year relocated most of its global team to Boston in the US.
It launched Atlas Venture Development Corporation last year to develop early-stage drugs from pharmaceutical companies and last month promoted Ankit Mahadevia to principal to work under managing director David Grayzel, former head of clinical development and regulatory affairs at Infinity Pharmaceuticals.