US-based agricultural gene editing technology developer Pairwise Plants closed a $25m series A round on Tuesday co-led by Monsanto Growth Ventures, a corporate venturing subsidiary of agrochemical producer Monsanto.
The round was co-led with healthcare-focused investment firm Deerfield Management. The company has not previously disclosed funding.
Pairwise is working on agricultural gene modification technology to help alleviate pressures in the global food chain. It has licensed base editing technology created at Harvard University’s Department of Chemistry and Chemical Biology by Pairwise co-founder David Liu.
The company will look to partner companies working with produce such as row and speciality crops, fruits and vegetables. Tom Adams, a former vice-president of biotechnology at Monsanto, is a co-founder and will take on the chief executive role at Pairwise at the start of next month.
Kiersten Stead, investment director at Monsanto Growth Ventures, said: “Our goal is to solve agriculture problems across a wide range of food systems that are also acknowledged social problems – including food waste, food security and nutrition, and to enable other companies worldwide to benefit from gene editing through technology licensing and collaboration.”