Sunday, December 21, 2014
YOLO COUNTY NEWS
99 CENTS

Arcadia Biosciences raises $33 million Series D investment

Arcadia Biosciences Inc., a Davis-based agricultural biotechnology company focused on developing technologies and products that benefit the environment and human health, has closed on a $33 million round of Series D preferred share equity financing.

Arcadia plans to use proceeds from the financing to accelerate the development and commercial launch of products based on the company’s agronomic performance and product quality trait technologies.

The company has its headquarters at 202 Cousteau Place, Suite 200, in Davis.

The round was led with an investment of $30 million from Mandala Capital Limited, a dedicated agribusiness private equity fund focused on seed technology, among other sectors, in India. Nine existing investors — including CMEA Capital, BASF Venture Capital and Saints Capital — also are participating in the round.

Piper Jaffray & Co. served as Arcadia’s exclusive financial adviser for the transaction. With completion of the Series D round, total equity capital raised by Arcadia amounts to $101 million.

Arcadia has recently announced the achievement of key performance and commercial development milestones by technology licensees in multiple crops.

Verdeca LLC, Arcadia’s soybean joint venture with Bioceres S.A. of Argentina, recently announced the granting of a commercial development license for stress tolerance technology to GDM Seeds, a leading South American soybean seed company. Regulatory field trials of Verdeca’s stress tolerant soybeans have been completed in Argentina and the United States to generate data for regulatory submissions, the first of which is expected this year.

“Multiple products based on Arcadia’s agronomic performance and product quality traits are currently in late-stage commercial development, and our Sonova 400 GLA safflower oil is already on market,” said Eric Rey, president and CEO of Arcadia.

“The Series D funding enables us to continue working closely with our licensees and partners to accelerate progress, provide key data for commercial regulatory approvals, and pursue opportunities with new partners.”

Added Uday Garg, managing director of Mandala Capital Limited, “We are very pleased to have completed this investment in Arcadia Biosciences. Our investment benefits from exposure to Arcadia’s highly developed, global seed technology platform that touches every major agricultural economy.

“We are particularly excited about the products in advanced development at Arcadia that address the acute need for crops with traits of water and nitrogen use efficiency, and abiotic stress including drought tolerance in our fund’s target market, India.”

Arcadia’s agronomic performance traits — including nitrogen use efficiency, water use efficiency, salt tolerance, heat tolerance and herbicide tolerance — are all aimed at making agricultural production more economically efficient and environmentally sound, a news release said.

Arcadia has granted more than 70 technology licenses worldwide to major seed and consumer product companies. The company was recently named one of MIT Technology Review’s 50 Smartest Companies and was previously recognized by AlwaysON as one of the GoingGreen Silicon Valley Global 200.

For more information, visit www.arcadiabio.com.

Comments

comments

Special to The Enterprise

  • Recent Posts

  • Enter your email address to subscribe to this newspaper and receive notifications of new articles by email.

  • .

    News

    Brinley Plaque honors environmental stalwart

    By Dave Ryan | From Page: A1 | Gallery

     
    What’s new at UCD? Construction projects abound

    By Tanya Perez | From Page: A1 | Gallery

     
    No-nonsense Musser voted Citizen of the Year

    By Dave Ryan | From Page: A1 | Gallery

    Sharing a meal, and so much more

    By Anne Ternus-Bellamy | From Page: A1 | Gallery

     
    Downtown crash results in DUI arrest

    By Lauren Keene | From Page: A2

    March trial date set in Davis molest case

    By Lauren Keene | From Page: A2

     
    North Korea proposes joint probe over Sony hacking

    By The Associated Press | From Page: A2

     
    AP sources: Cops’ killer angry over Garner death

    By The Associated Press | From Page: A2

    Raul Castro: Don’t expect detente to change Cuban system

    By The Associated Press | From Page: A2

     
    Police seek help in finding runaway twin girls

    By Enterprise staff | From Page: A2

    Pedal around Davis on weekly bike ride

    By Enterprise staff | From Page: A3

     
    Supplies collected for victims of abuse

    By Enterprise staff | From Page: A3

     
    Donors, volunteers honored on Philanthropy Day

    By Special to The Enterprise | From Page: A3 | Gallery

    Enterprise plans Christmas, New Year’s holiday hours

    By Enterprise staff | From Page: A3

     
     
    Luminaria display planned in West Davis

    By Enterprise staff | From Page: A3

    Soup’s On will benefit NAMI-Yolo

    By Enterprise staff | From Page: A3

     
    Surprise honor is really nice, dude

    By Enterprise staff | From Page: A5 | Gallery

     
    Konditorei presents free holiday concert

    By Enterprise staff | From Page: A5

    .

    Forum

    It’s not a pretty picture

    By Creators Syndicate | From Page: B4

     
    Google me this: Should I hit that button?

    By Marion Franck | From Page: B4

     
    E-cigs surpass regular cigarettes among teens

    By The Associated Press | From Page: B4

    Too late to pick a fight

    By Creators Syndicate | From Page: B5

     
    All police need to humanize

    By Letters to the Editor | From Page: A10

    Are we only a fair-weather bike city?

    By Letters to the Editor | From Page: A10

     
    Join us in making our world more just

    By Special to The Enterprise | From Page: A10

     
    Tom Meyer cartoon

    By Debbie Davis | From Page: A10

    The electronic equivalent of war

    By Special to The Enterprise | From Page: A11

     
    The Green House effect: Homes where the elderly thrive

    By New York Times News Service | From Page: A11

    .

    Sports

    UCD women look to improve, despite game at No. 7 Stanford

    By Bruce Gallaudet | From Page: B1 | Gallery

     
    Second-half run spurs Aggie men to 8-1

    By Enterprise staff | From Page: B1

     
    Stenz shines as DHS girls take a tournament title

    By Enterprise staff | From Page: B1 | Gallery

    Aggie Manzanares not quite finished carrying the rock

    By Bruce Gallaudet | From Page: B1 | Gallery

     
    49ers fall to San Diego in overtime

    By The Associated Press | From Page: B10

    .

    Features

    .

    Arts

    .

    Business

    Marrone Bio expands its product reach in Latin America

    By Enterprise staff | From Page: A4

     
    Sierra Northern Railway names CEO

    By Special to The Enterprise | From Page: A4

    Sink your teeth into Vampire Penguin

    By Wendy Weitzel | From Page: A4 | Gallery

     
    .

    Obituaries

    .

    Comics

    Comics: Sunday, December 21, 2014

    By Creator | From Page: B8