CHARLOTTESVILLE, VA (May 9, 2024) – AgroSpheres, a biotechnology company pioneering breakthroughs in sustainable crop protection and crop health, today announced the signing of a major collaboration with FMC Corporation (NYSE:FMC), a global leader in agriculture sciences. The long-term alliance represents a major milestone in launching AgroSpheres’ vertically integrated product pipeline. Powered by a recent $25M Series B funding round and construction of a new manufacturing facility, the Virginia startup is well-positioned to transition its portfolio of proprietary active ingredients to end-to-end commercial production.
The agreement will bolster FMC’s capabilities in Lepidoptera control and AgroSpheres’ speed to market for its RNA portfolio. Throughout the collaboration, AgroSpheres ’internally generated RNA targets will be used to deliver a wide range of highly potent and selective biomodalities.
"In a global market desperately in need of effective tools to combat resistance, FMC has shown foresight by investing in next-generation technologies and setting aggressive goals to meet demand for high-performance biologicals," said Ameer Shakeel, Founder and CTO of AgroSpheres. "As leaders in bringing molecules to market, they are an ideal partner for AgroSpheres as we progress to comprehensive product development. We are excited to codevelop with the FMC team."
"AgroSpheres' scalable manufacturing and delivery technology got our attention, but once we took a closer look at their suite of proprietary actives, we saw significant value in a partnership,” said Dr. Seva Rostovtsev, Executive Vice President and Chief Technology Officer of FMC Corporation. “Integrating this technology into our world class insecticide portfolio will help diversify and complement our crop protection offerings.”
The technology and biomodality platform
RNA interference biomolecules have demonstrated great promise in the lab but have struggled to yield consistent results for commercial biological development. AgroSpheres’ patented AgriCell manufacturing technology offers the missing link with a highly scalable and cost-effective platform. AgriCell production of encapsulated biomolecules delivers enhanced stability, performance and targeted uptake in pests. AgroSpheres’ groundbreaking biomodality approach targets specific, yet diverse biological actions, efficiently multiplying product offerings and innovation.
"FMC is committed to finding sustainable and pollinator-friendly solutions for global insect control," said Lisa Hoffman, PhD, Director of Development Biology and External Partnerships at FMC Corporation. "After an extensive review of RNA technologies, it was clear that AgroSpheres has the right capabilities to help us be successful in this space."
Reese Blackwell, Chief Business Officer at AgroSpheres, underscored the company's firm commitment to the rapid development of commercial biomodalities, aiming to provide growers with solutions that are both effective and environmentally friendly. He emphasized the need for next-generation products to address the challenges currently faced by biologicals to ensure broad farmer adoption.
"Like FMC, we aim to be at the forefront of biological input innovation," said Blackwell. "Our development prioritizes efficacy, scalability and rapid market entry. Observing FMC's impressive revenue generation from newly launched products over the past five years confirms that they are the perfect collaborator to expedite our pioneering technologies from the laboratory to the farm gate."
# # #
AgroSpheres Media Contact:
Valerie Martin
Email: val@valphadog.com
Phone:612-743-4013
About FMC Corporation:
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC’s innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,200 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit www.fmc.com to learn more and follow us on LinkedIn®.
About AgroSpheres:
AgroSpheres is a pioneering agricultural technology company committed to addressing the most pressing challenges in global agriculture. By harnessing the power of cutting-edge science and technology, AgroSpheres is developing innovative solutions to promote sustainable and efficient farming practices. The company's mission is to revolutionize agriculture, making it more productive, eco-friendly, and capable of feeding the growing global population.