A revolutionary new way to protect crops from insects that offers novel modes of action
IBI Ag, an Israeli bio-insecticide company developing bio-insecticides with lower ecological footprints, has closed the first part of its Series A funding round with a $6.1 million investment. A round led by Corteva, Inc., through its Corteva Catalyst platform and involving Trendlines Group, Iron Nation, Consensus Business Group (“CBG”) and the Israel Innovation Authority underscores IBI Ag’s strategic importance in helping farmers grow more food by protecting their crops and the global food chain through innovative biological and naturally-inspired solutions.
IBI Ag has developed technology that leverages single domain antibodies, to produce highly effective crop protection solutions with a low ecological footprint. This technology—adapted from pharma and modified to fit the agricultural market—provides novel modes of action and represents a revolutionary new approach for protecting crops from insects. The products under development target a broad spectrum of insects, both sucking and chewing insects with minimal impact on non-targeted organisms. The company is targeting high value crops to start and will follow with row crop solutions.
“We are thrilled to have the support of our existing and new investors, led by Corteva through their Corteva Catalyst platform,” said Arnon Heyman, Chief Executive Officer, IBI Ag. “This investment will help us to accelerate the development of our single domain antibody technology, providing farmers with sustainable and effective crop protection solutions. We believe our single domain antibody technology is a game changer for driving agricultural productivity while preserving the environment, and the investment announced today is a significant step towards delivering this innovation to farmers across the globe.”
“We see considerable potential for IBI Ag’s bioinsecticides to be a smart solution for farmers to tackle devastating insects while minimizing environmental impacts,” said Tom Greene, Senior Director at Corteva Inc. and Global Leader for Corteva Catalyst.
A pioneer in the agricultural biotechnology industry, IBI-Ag’s investment aligns with the company’s commitment to putting cutting-edge technology into farmers’ hands. The company’s strategic focus is on accelerating the development of next-generation biological and naturally inspired crop protection solutions as well as developing innovative and sustainable crop protection products. Through its proprietary technology platform, the company creates biological insect control solutions that are effective, selective, and safe using nanobodies – antibodies. The breakthrough technology can help farmers protect their crops with a lower environmental footprint and transform the agricultural industry by offering a cost-effective and environmentally friendly alternative to chemical pesticides, which will protect the global food chain.
