Corteva takes $25M stake in North Carolina gene-editing agriculture company
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Corteva Inc. announced Tuesday it has taken a $25 million stake in a North Carolina-based technology startup that uses gene-editing technology in food and agriculture.
Corteva, the Indianapolis-based seed and crop protection giant, also said it has formed a joint venture with the startup, Pairwise, based in Durham, North Carolina, aimed at increasing crop yield for food, fuel and fiber production.
The joint venture, which will span five years, will allow the companies to collaborate on the development of gene-edited products that are more resilient to extreme weather and climate change.
“Gene editing is a transformational technology for agriculture that will advance climate resilience in farming and drive the increased farm productivity needed to feed and fuel the world’s growing population,” said Sam Eathington, Corteva’s chief technology and digital officer, in written remarks.
Pairwise, a private company founded in 2017, has used gene editing across several different crops. The company’s mission statement is to “build a healthier world through better fruits and vegetables.” Pairwise has multiple products in development, including corn, soy, wheat, canola and blackberries.
The company’s “Pairwise Fulcrum Platform” includes proprietary gene-editing tools that provide the ability to turn a characteristic on or off, but with base editing and related technologies, “tune” it to find its highest performance, the companies said.
“Gene editing is poised to revolutionize agriculture, enabling the cultivation of crops that are more adaptive to climate change, are more nutritious and convenient for consumers, and deliver greater economics for growers,” said Tom Adams, Pairwise co-founder and CEO, in written remarks.
Pairwise has raised a total of $155 million in funding in multiple rounds, including $40 million in September.