|[January 09, 2013]
NewLeaf Symbiotics Raises $7 Million in Series A Financing from RockPort Capital, Open Prairie Ventures and Pangaea Ventures
ST. LOUIS --(Business Wire)--
Symbiotics, Inc. today announced the completion of a $7.0 million
round of financing. Investors in the syndicate include Rockport
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 formulatin efforts, and to expand its growing portfolio of
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.
About RockPort Capital:
RockPort Capital is a multi-stage venture capital firm that invests in
the areas of alternative and traditional energy, mobility, and
sustainability. For more than a decade RockPort has partnered with
entrepreneurs to foster growth and create value in a broad range of
industrial and consumer facing companies whose technologies and products
provide innovative solutions to significant worldwide markets. RockPort
has a collaborative approach to investing, deep domain expertise, and
insights into all aspects of energy and cleantech. With offices in
Boston and Menlo Park, RockPort is globally recognized as being among
the largest and most established energy-focused venture capital firms.
Open Prairie Ventures is one of the nation's premier ag-tech early and
growth stage venture capital firms. Its Midwest-based management team
draws on generations of agribusiness experience to identify and support
promising technology companies solving the world's most challenging
agricultural issues. Founded in 1999, Open Prairie has successfully
harvested companies from start-up to IPO and leveraged its vast network
of relationships with strategics to optimize returns for its investors.
Current investments include Vestaron, a developer of proprietary,
environmentally-conscious agriculture insecticide products based on
polypeptides found in spider venom; and its most recent investment,
NewLeaf Symbiotics, an agricultural biotech firm that is commercializing
a family of beneficial bacteria shown to improve plant health, promote
early growth, and increase crop yield.
Pangaea Ventures invests in early stage cleantech companies with
compelling advanced material technologies. Established in 2001, Pangaea
Ventures is now investing out of its third fund. Pangaea's central
investment thesis is that breakthroughs in advanced materials are
critical for the continued growth of cleantech, and will be the primary
drivers of value for venture-backed exits in the space. Pangaea and its
portfolio companies benefit from the involvement of world-leading
strategic Limited Partners across North America, Asia, Europe and the
Middle East. www.pangaeaventures.com
For a digital version of this news release, click on the "see more"
banner area of the NewLeaf Symbiotics Website at www.newleafsym.com.
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