Corteva to invest $25 million to acquire equity stake in gene editing innovator, Pairwise
Corteva, Inc. , a global leader in agricultural technology and Pairwise, a technology company pioneering the application of gene editing in food and agriculture have collaborated to accelerate the delivery of advanced gene editing solutions to farmers. The initiative will benefit both the environment and everyday consumers. With gene editing, growers can make precise changes to a plant’s DNA, able to keep pace with climate change’s challenges to food production.
Anchoring the collaboration is Corteva’s $25 million equity investment in Pairwise, made under the umbrella of Corteva Catalyst, the company’s new investment and partnership platform focused on accessing agricultural innovation to drive value creation. The investment aims to help expand the reach and benefits of gene editing to a wide variety of staple and specialty crops.
In addition, Corteva and Pairwise have formed a joint venture to accelerate and expand the delivery of advanced gene edited technologies aimed at increasing crop yield for food, fuel and fiber production, despite increasing climate change.
The joint venture, which spans five years, will leverage both companies’ advanced gene editing capabilities to accelerate the delivery of gene edited products by generating and evaluating unique gene edits across multiple traits in a range of crops. Building on Corteva’s longstanding leadership in plant breeding and genetics, the companies will collaborate on the development and deployment of gene edited products that are more resilient to extreme weather events and climate change.
This is the first joint venture and major equity investment in gene editing made by Corteva Catalyst, the company’s new investment and partnership platform. The investment reflects Corteva’s nearly century-long track record (through its Pioneer brand) of championing innovation through partnerships, including with the global scientific community.
Tom Adams, Pairwise CEO and co-founder. “Through our Fulcrum™ Platform, we’re proud to be at the helm of applying this transformative technology in agriculture and, alongside partners like Corteva, accelerate the realization of these benefits across global stakeholders.”
Pairwise is a leader in using gene editing to make differentiated crops. Last year, the company launched the first CRISPR food in North America, and has multiple products in development across significant crops, including corn, soy, wheat, canola, blackberries, and more.
