The funds will help Inari to boost the development and commercialisation of breakthrough gene-edited crops

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Inari will use the funds to advance the development of breakthrough gene-edited crops. (Credit: Julio César García from Pixabay)

Inari, a biotechnology company engaged in the development of next-generation seeds, has secured $45m debt financing to advance the development of its modern agriculture technologies.

The company signed a $45m loan and security agreement with K2 HealthVentures (K2HV), and the funds complement the firm’s recent $89m equity raise.

Inari will use the funds to boost the development and commercialisation of breakthrough gene-edited crops to solve the challenges of climate change and enhance productivity.

Inari CEO Ponsi Trivisvavet said: “Our alliance with K2HV enhances our financial position. It supports further expansion of our research and technology platform, as well as the development and commercialisation of products that align sustainability with cutting-edge biotechnology.”

Inari claimed that it has achieved several key product milestones and gene-editing technologies have been validated in tomato field trials.

Inari’s first generation of improved corn and soybeans are currently being assessed in greenhouses

At present, the company’s first generation of improved corn and soybeans are being evaluated in greenhouses.

Inari is also planning to commercially launch its gene-edited hybrid corn and soybean varieties in a short time.

K2 HealthVentures founding managing director and CEO Parag Shah said: “We’re excited to support Inari’s vision to create value through innovative scientific discovery and products focused on sustainability.

“This financing follows our strategy of partnering with pioneering life science technology companies with world-class management that aim to deliver solutions for critical global challenges.”

In October 2019, Inari selected L7 Informatics’ enterprise science platform (ESP) for the consolidation of its global operations.

The company applies genetic technologies and data science for the development of next-generation seeds, which help to minimise the natural resources required to grow food.

Based in Cambridge of Massachusetts, Inari was established by Flagship Pioneering in 2016. The company has additional sites in West Lafayette of Indiana and Ghent of Belgium.