CHARLOTTESVILLE, VA (May 9, 2024) – AgroSpheres, a biotechnologycompany pioneering breakthroughs in sustainable crop protection and crophealth, today announced the signing of a major collaboration with FMCCorporation (NYSE:FMC), a global leader in agriculture sciences. The long-term alliancerepresents a major milestone in launching AgroSpheres’ vertically integratedproduct pipeline. Powered by a recent$25M Series B funding round and construction of a new manufacturing facility,the Virginia startup is well-positioned to transition its portfolio ofproprietary active ingredients to end-to-end commercial production.
The agreementwill bolster FMC’s capabilities in Lepidoptera control and AgroSpheres’ speedto market for its RNA portfolio. Throughout the collaboration, AgroSpheres’internally generated RNA targets will be used to deliver a wide range of highlypotent and selective biomodalities.
"AgroSpheres'scalable manufacturing and delivery technology got our attention, but once wetook a closer look at their suite of proprietary actives, we saw significantvalue in a partnership,” said Dr. Seva Rostovtsev, Executive Vice President andChief Technology Officer of FMC Corporation. “Integrating this technology intoour world class insecticide portfolio will help diversify and complement ourcrop protection offerings.”
The technology and biomodality platform
RNAinterference biomolecules have demonstrated great promise in the lab but havestruggled to yield consistent results for commercial biological development.AgroSpheres’ patented AgriCell manufacturing technology offers the missing linkwith a highly scalable and cost-effective platform. AgriCell production ofencapsulated biomolecules delivers enhanced stability, performance and targeteduptake in pests. AgroSpheres’ groundbreaking biomodality approach targetsspecific, yet diverse biological actions, efficiently multiplying productofferings and innovation.
"FMC iscommitted to finding sustainable and pollinator-friendly solutions for globalinsect control," said Lisa Hoffman, PhD, Director of Development Biologyand External Partnerships at FMC Corporation. "After an extensive reviewof RNA technologies, it was clear that AgroSpheres has the right capabilitiesto help us be successful in this space."
ReeseBlackwell, Chief Business Officer at AgroSpheres, underscored the company'sfirm commitment to the rapid development of commercial biomodalities, aiming toprovide growers with solutions that are both effective and environmentallyfriendly. He emphasized the need for next-generation products to address thechallenges currently faced by biologicals to ensure broad farmer adoption.
"LikeFMC, we aim to be at the forefront of biological input innovation," saidBlackwell. "Our development prioritizes efficacy, scalability and rapidmarket entry. Observing FMC's impressive revenue generation from newly launchedproducts over the past five years confirms that they are the perfectcollaborator to expedite our pioneering technologies from the laboratory to thefarm gate."
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AgroSpheresMedia Contact:
ValerieMartin
Email: val@valphadog.com
Phone:612-743-4013
About FMC Corporation:
FMCCorporation is a global agricultural sciences company dedicated to helpinggrowers produce food, feed, fiber and fuel for an expanding world populationwhile adapting to a changing environment. FMC’s innovative crop protectionsolutions – including biologicals, crop nutrition, digital and precisionagriculture – enable growers, crop advisers and turf and pest managementprofessionals to address their toughest challenges economically whileprotecting the environment. With approximately 6,200 employees at more than 100sites worldwide, FMC is committed to discovering new herbicide, insecticide andfungicide active ingredients, product formulations and pioneering technologiesthat are consistently better for the planet. Visit www.fmc.com to learnmore and follow us on LinkedIn®.
About AgroSpheres:
AgroSpheresis a pioneering agricultural technology company committed to addressing themost pressing challenges in global agriculture. By harnessing the power ofcutting-edge science and technology, AgroSpheres is developing innovativesolutions to promote sustainable and efficient farming practices. The company'smission is to revolutionize agriculture, making it more productive,eco-friendly, and capable of feeding the growing global population.