Crop science giant Syngenta launches investment arm; first deal is RTP-based Metabolon
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RESEARCH TRIANGLE PARK, N.C. – Life science startup Metabolon’s close on $6 million in venture capital this week also made other news – the deal marked the launch of the investment arm at biotech crop giant Syngenta.
Syngenta Ventures was among two new investors at Metabolon, which is focused on the science of metabolomics. Syngenta announced the launch of its own new venture along with the Metabolon deal.
The amount of the investment was not disclosed. As part of the deal, Syngenta also gained a seat on the Metabolon board.
Syngenta’s biotech research group is based in RTP.
The company also has been a research partner with Metabolon for several years.
“The creation of Syngenta Ventures will complement our in-house R&D work and enables us to be even more involved in promising technologies and innovative products with external partners,” said Robert Berendes, head of business development at Syngenta, which is based in Switzerland.
“We need access to the best available new technologies in order to achieve the increase in agricultural output which will be vital over the coming years,” he added.
Syngenta’s R&D operation is based in RTP and on Thursday announced the hiring of former Bayer CropScience executive Michiel van Lookeren Campagne to lead that group.
The $6 million close wrapped up a $12.3 million Series C round for Metabolon.
Metabolon is advancing metabolomics, which is an approach to identifying biomarkers. The firm believes its technology will "dramatically impact drug discovery and development processes."
Carol Marino of Syngenta Ventures and Guy Fish of Fletcher Spaght join Metabolon’s board as part of the investment.
Copyright 2010 Local Tech Wire. All rights reserved.
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