Key Takeaways
- IBI Ag raised $6.1 million in Series A funding, with Corteva Inc. leading the investment through its Corteva Catalyst platform.
- Other investors include The Trendlines Group, Iron Nation, Consensus Business Group, and the Israel Innovation Authority.
- The company is developing bio-insecticides using single-domain antibodies, a novel approach adapted from pharmaceutical applications.
- IBI Ag’s technology targets a broad spectrum of insect pests while minimizing environmental impact, starting with high-value crops before expanding to row crops.
- Funding will accelerate product development and commercialization of biological crop protection solutions.
IBI Ag Closes $6.1M Series A Round to Drive Biological Crop Protection Innovation
IBI Ag, an Israeli company developing next-generation bio-insecticides, has successfully closed the first part of its Series A funding round, securing $6.1 million.
The investment was led by Corteva Inc. through its Corteva Catalyst platform, with additional participation from The Trendlines Group (SGX:42T) (OTCQX:TRNLY), Iron Nation, Consensus Business Group (CBG), and a grant from the Israel Innovation Authority.
The funding will support IBI Ag’s development of single-domain antibody-based bio-insecticides, an innovative approach that offers targeted crop protection with reduced ecological impact.
Arnon Heyman, CEO of IBI Ag, commented: “We are thrilled to have the support of our existing and new investors, led by Corteva through their Corteva Catalyst platform. This investment will help us accelerate the development of our single-domain antibody technology, providing farmers with sustainable and effective crop protection solutions. We believe this technology is a game changer for driving agricultural productivity while preserving the environment.”
Single-Domain Antibody Technology: A New Approach to Bio-Insecticides
IBI Ag’s bio-insecticide technology utilizes single-domain antibodies, a concept adapted from the pharmaceutical industry and tailored for agriculture.
✔ Targets a broad spectrum of insect pests, including sucking and chewing insects.
✔ Minimizes impact on non-target organisms, helping to maintain biodiversity and ecosystem balance.
✔ Designed for high-value crops initially, with expansion planned for row crops in the future.
By leveraging novel modes of action, IBI Ag aims to offer new solutions for pest management that help farmers protect their crops while reducing reliance on synthetic chemicals.
Tom Greene, Senior Director at Corteva Inc. and Global Leader for Corteva Catalyst, stated: “We see considerable potential for IBI Ag’s bio-insecticides to be a smart solution for farmers to tackle devastating insects while minimizing environmental impacts. Our investment aligns with our continued drive to put cutting-edge innovation into the hands of farmers and reflects our strategic focus on accelerating the development of next-generation biological and naturally inspired solutions.”
