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Ag-Bio Firm NewLeaf Symbiotics Raises $17M in Series B

NEW YORK (GenomeWeb) – Agricultural biotechnology firm NewLeaf Symbiotics today said that it has raised $17 million in Series B financing.

Proceeds will be used to accelerate the St. Louis-based firm's R&D program, move production from pilot to commercial scale, and launch its first biological products, it said.

NewLeaf develops beneficial plant bacteria and uses genomics technology to discover and analyze plant/microbe interactions. It is looking to launch plant biologics based on a family of bacteria called pink-pigmented facultative methylotrophs to improve crop health and protection.

In December, the company acquired bioinformatics consulting firm Intuitive Genomics to develop bespoke solutions for analyzing and interpreting genomic data.

Otter Capital led the round with participation from existing investors RockPort Capital, Open Prairie Ventures, and Pangaea Ventures. NewLeaf previously closed a $7 million Series A financing round in January 2013.