US gene editing specialist receives backing for advanced breeding of new products like seedless blackberries, stoneless cherries, and wind-resistant corn
Plant breeder Pairwise has secured US$40m in Series C funding, as it aims to develop potentially revolutionary new crops including seedless blackberries and stoneless cherries using gene editing technology.
The funding round was led by Deerfield Management and featured multiple returning investors including Aliment Capital and Leaps by Bayer.
A new investor, agritech company Corteva, has injected a further US$25m in equity to support its development of gene editing in a wide variety of crops.
In addition, Corteva and Pairwise have formed a five-year joint venture that will “accelerate and expand” the delivery of advanced gene edited technologies.
The venture’s ultimate aim is to boost yields and breed crops that are more resilient to extreme weather.
Pairwise has edited genetic traits in various crops, including corn, soy, wheat, canola, leafy greens, blackberries, and more.
It is also among a small number of companies that has launched a gene-edited product commercially, in its case a milder variety of mustard greens that can be eaten like lettuce.
More recently, the company signed an exclusive deal with Bayer to develop and sell ten varieties of Pairwise-edited greens at scale, and to develop and breed for new varieties with the technology.
The companies are also understood to be working on a smaller sweetcorn plant that can stand up better to strong winds and other challenging conditions.
Novel solutions
Pairwise co-founder and CEO Tom Adams, who recently gave an exclusive, in-depth interview to Asiafruit ahead of Asia Fruit Logistica, commented: “This new investment will enable us to expand the impact of our proprietary Fulcrum Platform as we continue to lead this transformation with our proven ability to deliver novel solutions that address the most pressing challenges in agriculture today.”
The company’s chairman Cam Wheeler, also a partner at Deerfield Management, said it had “delivered game-changing edits” in several plant varieties in just a few short years.
“We believe that the precision, speed, and safety of gene editing is poised to transform agriculture, and our ongoing investment reflects our confidence in Pairwise as the clear leader in this space.”
Corteva’s chief technology and digital officer Sam Eathington said gene editing was a “critical solution” to the challenge of climate resilience in food and agriculture.
“Pairwise is an obvious choice for our investment to help accelerate innovation through gene editing in fruit, vegetables, and specialty crops,” he commented. “And as leaders in gene editing ourselves, Corteva’s ultimate aim is to work with Pairwise to unlock the impact of this technology to help solve climate challenges and produce the food, fibre and fuel required to meet the needs of a growing global population.”
