Issue Date: March 28, 2011
Biopesticide Firms Take Growth Path
Biopesticide developer AgraQuest has raised $18 million from venture capitalists. The firm, which is planning a stock offering in 2012, says the venture capital will be used for research, technology in-licensing, and acquisitions. Meanwhile, Marrone Bio Innovations, whose CEO, Pam Marrone, founded AgraQuest in 1995, has picked Syngenta to distribute its Regalia biofungicide in Europe, Africa, and the Middle East. Regalia boosts plants’ defenses against fungal and bacterial diseases. AgraQuest recently expanded a supply agreement with Bayer for the garden fungicide Bacillus subtilis strain QST 713 to include France, Italy, and Germany.
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