The round was led by Fidelity Management and Research Company and was joined by several other high-profile investors including Alexandria Venture Investments and Cormorant Asset Management
Closing the Series C round of funding adds to what has been a transformational period and one of the most exciting times in our history said Cibus CEO Peter Beetham Over the last year Cibus has reached a number of important milestones with our core technologies regulatory and commercialization execution This funding is critically important for us to meet our aggressive trait development and commercialization plans We are thankful to our investing partners both new and returning for their support of our vision ”
The funding will be used to commercialize Cibus first commercial product SU Canola — a non-transgenic non-GMO sulfonylurea tolerant weed control crop — and to accelerate research and development of an expanding portfolio of impactful high-value non-transgenic crops including early releases of canola flax rice and potato followed by traits in every major crop In its first two years on the market SU Canola has sold out of inventory and experienced triple digit sales growth with continued strong growth expected in 2019
We continue working toward our goal of having high value non-transgenic traits in every major crop said Beetham This is the promise of our Rapid Trait Development System RTDS and puts Cibus at the forefront of a new movement in agriculture that leverages expertise in genomics gene editing and cell culture Cibus RTDS is enabling a new era in agriculture that provides capability beyond those of older transitional technologies that use transgenic genetic modification GMO This funding will help us maintain our leadership in this area and fulfill our mission of creating a sustainable global non-transgenic food supply ”
About Cibus
Cibus is an innovative company using advanced gene editing to develop novel non-transgenic characteristics across a broad range of organisms The company has a worldwide presence with subsidiaries in Europe and North America and a state-of-the-art research and development center in San Diego California In crops Cibus is offering its first commercial product SU Canola and building a pipeline of products featuring beneficial characteristics including healthier oil profiles disease resistance and drought tolerance It is also using its using its RTDS technology platform to develop high value sustainable products in microbial platforms for the food flavor and fragrance and personal care markets Cibus core purpose is to lead the transition to sustainable non-transgenic products and improved human health by harvesting nature’s diversity For more information visit cibus com
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