GreenLight Biosciences Inks $102M Funding
BOSTON, MA, GreenLight Biosciences has raised an oversubscribed $102 million round.
GreenLight Biosciences today announced it has raised an oversubscribed $102 million round of funding from new and existing investors to rapidly expand production of its RNA products for agricultural and life sciences applications, including an expansion into new RNA-based therapies. The round was led by Morningside Ventures, with several new and existing top-tier investors including the agriculture venture firm, S2G Ventures, Cormorant Asset Management, Continental Grain Company, Fall Line Capital, Tao Capital Partners, Baird Capital, MLS Capital Fund II, Lewis and Clark AgriFood, and Lupa Systems.
GreenLight Biosciences develops sustainable solutions to address some of the biggest issues facing our planet today, from public health crises to environmentally-friendly food production for a growing population. The company's RNA-based vaccines offer tremendous potential to address pandemics like COVID-19, because of shorter preclinical development times compared to traditional vaccines. Its pipeline of RNA-based agricultural products will help farmers create greener, cleaner crops by precisely targeting a specific pest with non-toxic biocontrols, and without harming beneficial insects or leaving residues in the soil or water.
The investment comes on the heels of a $17 million special purpose round in May 2020 to accelerate large-scale manufacturing of future COVID-19 vaccines using the company's proprietary messenger RNA (mRNA) production technology. The new funding will drive the expansion of GreenLight's human health efforts into new platforms like RNA-based therapeutics. With the company's first biopesticide expected to launch in 2022, the new funding will also accelerate development and commercialization of GreenLight's pipeline of safe and effective products for more sustainable crop production.
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 is committed to social justice, diversity, inclusion, and equality, and promises to use collaboration to remain scientifically imaginative and passionately focused on making a difference in the world.
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