AgBiome Backed by World-Leading Agribusiness Companies

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Nov 13, 2014, 10:07 ET

RESEARCH TRIANGLE PARK, N.C., Nov. 13, 2014 /PRNewswire/ -- AgBiome LLC, an innovator in the use of microbes for agriculture, today disclosed the participation of three of the world's leading agribusiness companies in its Series A financing that closed last year. Syngenta, Monsanto, and Novozymes have taken equity ownership positions in AgBiome, alongside venture investors Polaris Partners, ARCH Venture Partners, Harris & Harris and Innotech Advisors. AgBiome considers the participation of these strategic investors in the company's $17.5 million Series A round a rare and powerful assembly of the best minds in the ag biological space.

"This dream syndicate came together in a unique way to move the company forward," said Scott Uknes, Co-CEO of AgBiome. "This sort of combined investment is unprecedented to our knowledge, and is both a testament to our vision and team and a catalyst for innovation in the space."

"As a venture investor in this promising company, it is gratifying to see that each of these well-positioned investors sees promise in AgBiome," said Amir Nashat, Managing Partner at Polaris Partners. "AgBiome has developed an outstanding platform and we look forward to working with these and other investors as we advance to the next level of development."

The strategic investors share the enthusiasm of the venture investors and expressed their optimism for the future of AgBiome. Katrin Burt of Syngenta Ventures commented, "At Syngenta Ventures, we look for companies with great teams and a business focus that can make a step change in dramatically improving agriculture. AgBiome is exceptional on both fronts, but it also has a unique business model and structure that positions the company well for success."

About AgBiome:

AgBiome is a venture-backed agricultural product discovery company based in Research Triangle Park, North Carolina. AgBiome uses its proprietary platform to collect, isolate, analyze, and test microbes for use in agriculture as biological products and as sources of trait genes. AgBiome engages in multiple partnerships to gain access to seed and crop protection markets for its novel products, building long-term value for its owners.

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SOURCE AgBiome LLC