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AgBiome Reaps $34.5M in Series B Financing

NEW YORK (GenomeWeb) – AgBiome today announced it has secured $34.5 million in Series B financing.

The Bill & Melinda Gates Foundation, The University of Texas Investment Management Company, and the Pontifax Global Food and Agriculture Technology Fund joined existing investors Polaris Partners, ARCH Venture Partners, Harris & Harris Group, Innotech Advisers, Monsanto Growth Ventures, and Syngenta Ventures in the round. The fundraising follows a $14.5 million Series A financing round in 2013.

AgBiome said it will use the funds on research and development and to support the commercial launch of its first products.

Research Triangle Park, North Carolina-based AgBiome has isolated and identified agriculturally relevant microbes to inform its crop-protection products. In December 2014 the firm signed a partnership to develop products with Syngenta.

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