moa raises $ 44 million in Series B funding to promote a new generation of safe and sustainable crop protection products
The funding is co-led by new investor Lansdowne Partners and existing investors Oxford Science Enterprises and Parkwalk Advisors, with participation from BGF Investments, Bits x Bites Growth Fund, IP Group and University of Oxford.
The investments will advance Moa’s pipeline of new crop protection products designed to increase the resilience and safety of the global food production system by addressing the urgent global problem of weed resistance.
moa has a rich portfolio of new herbicides mode of action – the elusive key to breaking the resistance – discovered using its proprietary platforms GALAXY, TARGET and SELECT
moa Technology Limited, the crop protection discovery company that is revolutionizing the future of weed control in agriculture, announced today that it has secured $ 44 million (£ 35 million) in Series B funding. I work miniaturized plants to discover the elusive novel mode of action able to control the tough weeds that plague farmers around the world.
The funding round was led by new investor Lansdowne Partners, a leading UK wealth manager, together with existing investors, Oxford Science Enterprises, an investment firm created to found, finance and build businesses through its unique partnership with the University. of Oxford; and Parkwalk Advisors, the largest EIS growth fund manager focused on college spinouts. Existing investors BGF Investments, Bits x Bites Growth Fund, IP Group and University of Oxford also participated.
moa is driving the evolution of an industry by studying nature’s blueprint for a new generation of safe and sustainable herbicides to solve an urgent problem that threatens the viability and safety of food production around the world. Effective and safe weed control is critical to producing enough food for a growing global population – without it, around 40% of crops can be lost. However, in a dynamic similar to the one that is driving the antibiotic resistance crisis affecting healthcare, a drought of innovation has forced the industry to rely on a limited number of similar products, such that substances existing weed control chemicals are rapidly losing their effectiveness due to the evolution of weed resistance. Despite the urgency, no major new herbicide has been introduced to the market in the last thirty years that works in a new way that can break resistance.
Established by the University of Oxford in 2017, moa has developed a unique plant-driven approach to revolutionize the process of discovering the new mode of action which can solve the challenge of resistance. Moa’s three proprietary platforms, GALAXY, TARGET and SELECT, uniquely use miniaturized living plants in combination with cutting-edge techniques in genetics, phenotypic analysis and data analysis to quickly select hundreds of thousands of natural and synthetic chemicals to find those that work differently. In its first two years, the approach has already produced an order-of-magnitude increase in the rate of discovery of these new interactions between chemistry and plant biology that have the potential to control weeds in new and safe ways.
Virginia Corless, CEO of moa, said: “We are delighted to have completed this round of funding, which will allow us to accelerate the development of the most promising leads in our rich pipeline and deliver the new safe and sustainable products we all need: farmers, consumers, anyone interested in the food we need. we grow and eat – so that we can rely on a safe, reliable and resilient agricultural industry for the future. We are thrilled to welcome Lansdowne’s new investment and are grateful for the continued support of our existing investors. “
Hadyn Parry, President a moa, added: “Global agriculture needs a new green revolution if we are to feed the world sustainably. Being able to control weeds is critical to both yield and cost of production in most crops and new ones are essential. mode of action of herbicides. It is very exciting to see moa starting to play its part in this new revolution, advancing so far in such a short time. “
The investment will allow moa to advance its lead portfolio to the next stage of development and further expand its prolific, high-throughput in vivo screening platforms.
Martin Fiennes, dean of Oxford Science Enterprises and non-executive director of moa, said “There has been tremendous progress in developing the mode of action discovery platform since we aided moa’s spin-out of the Oxford Plant Science Department. It is very exciting to see that the platform results now begin to show the new modes of action for effective and clean herbicides that farmers so desperately need. “
Cassie Doherty at Parkwalk Advisors and Non-Executive Director at moa, she added “Parkwalk is thrilled to offer its continued support to moa, helping to advance the development of their new technology which is so critical to farmers across the UK and around the world. We have always thought that moa’s relentless effort to fight for global food security will allow for a better future. “
Over the next few years, the moa pipeline is expected to produce several new candidates to advance in development and registration. The company is pursuing a range of business opportunities including collaborations, joint ventures and downstream partnerships to bring its portfolio to market, with the aim of providing farmers as quickly as possible with the tools they need to counter resistance. and ensure the resilience of our food production system.
For more information please contact:
Tracy Bell [email protected]
moa Technology Limited is driving the evolution of ethical and collaborative crop protection to feed the world’s growing population efficiently, safely and sustainably.
Created by Oxford University’s Department of Plant Sciences in 2017 from groundbreaking research by co-founders Professor Liam Dolan FRS and Dr Clement Champion, moa was created to address the challenge of increasing levels of weed resistance to weeds. herbicides. The company has developed its own discovery platforms and focuses on discovering a new generation of sustainable herbicides from natural and synthetic chemistry.
In moa, we are working hard to solve an urgent global problem with new mode of action herbicides that respect human and environmental health, support farmers with better products to meet the challenge of food supply in a safe, consistent and efficient way and advance the industry with a collaborative approach to integrated weed management.
About Oxford Science Enterprises
Oxford Science Enterprises is a Science Business Builder with a unique partnership with the University of Oxford and a commitment to helping solve the world’s toughest problems for more people, in more places, faster. The company does this by transforming the world’s leading science into companies that change the world by teaming the best scientists from the best university in the world with the best business brains. Oxford Science Enterprises grows its companies with care and expertise, investing for real world impact, not just financial returns, and reinvesting the proceeds into the next generation of original research and world-changing businesses.
Since 2015, the company has received automatic participation in all science spin-outs of the University of Oxford and has taken a leading role in creating and building businesses that address the problems that affect people in changing ways. life: their health, the availability of food, the survival of the planet.
Find out more: oxfordscienceenter necessari | Twitter | LinkedIn
Information on Parkwalk Consultants
Parkwalk is the fastest growing EIS fund manager, supporting breakthrough technologies emerging from leading UK universities and research institutes. With £ 400 million in assets under management, it has invested in over 150 companies through its Parkwalk Opportunities and Knowledge Intensive EIS Funds, as well as the award-winning business and innovation funds that Parkwalk manages for the universities of Cambridge, Oxford, Bristol and Imperial College.
Parkwalk invests in companies that create solutions to real-world challenges, with IP-protected innovations, in a wide range of industries including life sciences, artificial intelligence, quantum computing, advanced materials, genomics, clean tech, future of mobility, technology medical and big data
Lansdowne Partner Information
Lansdowne Partners is one of the UK’s oldest and most established alternative asset managers specializing in public and private market equities
moa Technology secures £ 35.24 million Series B investment led by Lansdowne Partners, Oxford Science Enterprises and Parkwalk Advisors – UK Technology Investment News
Source link moa Technology secures £ 35.24 million Series B investment led by Lansdowne Partners, Oxford Science Enterprises and Parkwalk Advisors – UK Technology Investment News