GreenLight Biosciences Grabs $50M
MEDFORD, MA, GreenLight Biosciences announced today a $50 million first closing of its latest funding round.
GreenLight Biosciences, the bio-performance company developing RNA-based solutions for agriculture and pharmaceutical applications, announced today a $50 Million first closing of its latest funding round. The round was led by S2G Ventures, Baird Capital and Blue I/O. Several additional top-tier investors, including Continental Grain Company, Tao Capital Partners and Alexandria Venture Investments, joined the investor syndicate. The majority of existing GreenLight investors also participated in the oversubscribed round.
With its unique cell-free bioproduction platform, GreenLight is capable of delivering cost effective, high quality RNA solutions to human, animal, and plant challenges that really work - without damaging our environment. The platform is uniquely capable of producing RNA sequences of exceptional fidelity, in a fully-scalable fashion, and at a lower cost than any other production platforms. The team at GreenLight is focused on the discovery and development of RNA-based products for agriculture and human health.
"We at S2G remain impressed with the platform that Andrey Zarur, GreenLight Co-Founder/CEO, and the GreenLight team are building, and the rapid pace of its development over the past year," said Matthew Walker, Managing Director at S2G Ventures. "We're now at a price point and purity level that opens up a host of markets and applications to an RNA-based solution that was previously limited to the highest-value human therapeutic markets. The GreenLight technology and products have the potential to bring about a new modality in human, animal and plant health, providing highly effective, targeted solutions that compete with or outperform traditional chemical treatments in terms of cost, efficacy, and off-target impacts. We are pleased to continue to support GreenLight and are thrilled to be working with such a capable management team and dynamic investor group."
The funding round will support rapid expansion of the GreenLight's discovery and development capabilities in multiple segments that bring a vast array of bio-performance products, including agricultural bio-control products and human and animal vaccines and therapeutics. GreenLight has established partnerships with leading corporations and academic institutions and continues to collaborate with these parties to accelerate the development of a portfolio of bio-performance candidates for plant and life sciences.
"Baird Capital is thrilled to be part of this terrific syndicate and back a talented and experienced management team," said Mike Liang, Partner, Baird Capital. "We do not often see platforms that have the potential to revolutionize an industry, much less, multiple ones. The opportunity to extend the GreenLight platform of low-cost, high-quality RNA production into the life sciences markets is extremely compelling, and we are excited about the potential for GreenLight to become the leader in RNA products across different markets."
"We are very excited about the opportunities that will result from this funding round," said Dr. Zarur. "Our mission is to accelerate the creation and development of RNA solutions that perform at a level that is equal to or exceeds current plant and life science solutions - naturally. We fully recognize that our success to date, and in the future, could not be possible without the amazing group of investors and collaborators that have believed in our mission. We are looking forward to further strengthening our company and driving additional innovations in our portfolio that will make a difference to life on our planet."
About GreenLight Biosciences, Inc.
GreenLight is a bio-performance company with a unique, cell-free production platform that delivers high-performing RNA solutions to human, plant, and animal challenges. GreenLight develops RNA products for plant and life science applications, and collaborates with industry leaders to advance vaccine development, pandemic preparation, crop management, and plant protection. The cutting-edge, natural platform delivers higher-quality RNA at a lower cost and higher speed than was ever before possible. The GreenLight team promises to use collaboration to remain scientifically imaginative and passionately focused on making a difference in the world. In addition, they will strive to continually and consistently develop natural solutions that work. GreenLight believes in the power of diversity as a business imperative, and is committed to working towards equal gender representation at all levels of the company. As an equal opportunity employer, GreenLight will consider all applicants for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
The company is headquartered in Boston, MA, with Plant Sciences R&D operations in RTP, NC and St. Louis, MO. www.greenlightbiosciences.com
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