Corteva to invest $25
million to acquire equity stake in gene editing innovator,
Pairwise
Strategic collaboration to also form a joint
venture to accelerate gene editing solutions
INDIANAPOLIS and DURHAM, N.C.,
Sept. 17,
2024 /PRNewswire/ -- Corteva, Inc. (NYSE:
CTVA), a global leader in agricultural technology and
Pairwise, a technology company pioneering the application of
gene editing in food and agriculture, announced a
collaboration today to accelerate the delivery of advanced gene
editing solutions to farmers, ultimately benefitting both the
environment and everyday consumers. Gene editing uses a plant's own
DNA to make precise improvements, providing growers with
another critical tool to keep pace with the challenges facing food
production, including those presented by climate change.
Anchoring the collaboration is Corteva's $25 million equity investment in Pairwise,
made under the umbrella of Corteva Catalyst, the company's
new investment and partnership platform focused on accessing
agricultural innovation to drive value creation. The investment
aims to help expand the reach and benefits of gene editing to a
wide variety of staple and specialty crops.
In addition, Corteva and Pairwise have formed a joint venture to
accelerate and expand the delivery of advanced gene edited
technologies aimed at increasing crop yield for food, fuel and
fiber production, despite increasing climate change.
The joint venture, which spans five years, will leverage both
companies' advanced gene editing capabilities to accelerate the
delivery of gene edited products by generating and evaluating
unique gene edits across multiple traits in a range of crops.
Building on Corteva's longstanding leadership in plant breeding and
genetics, the companies will collaborate on the development and
deployment of gene edited products that are more resilient to
extreme weather events and climate change.
"Gene editing is a transformational technology for agriculture
that will advance climate resilience in farming and drive the
increased farm productivity needed to feed and fuel the world's
growing population," said Sam
Eathington, Corteva's chief technology and digital officer.
"As a gene editing technology leader ourselves, we are proud to
work with Pairwise to accelerate the benefits of gene editing not
only to farmers, but ultimately to those who rely on the
availability of sustainably grown and affordable food – and that's
all of us."
"Gene editing is poised to revolutionize agriculture, enabling
the cultivation of crops that are more adaptive to climate change,
are more nutritious and convenient for consumers, and deliver
greater economics for growers," said Tom
Adams, Pairwise CEO and co-founder. "Through our Fulcrum™
Platform, we're proud to be at the helm of applying this
transformative technology in agriculture and, alongside partners
like Corteva, accelerate the realization of these benefits across
global stakeholders."
Pairwise is a leader in using gene editing to make
differentiated crops. Last year, the company launched the first
CRISPR food in North America, and
has multiple products in development across significant crops,
including corn, soy, wheat, canola, blackberries, and more. The
Pairwise Fulcrum™ Platform includes proprietary gene editing tools
that provide the ability to not only turn a characteristic on or
off but also, with base editing and related technologies, "tune" it
to find it's sweet spot for highest performance. Pairwise's novel
editing tools allow scientists to precisely tailor a wide range of
genetic variation to develop new, distinctive plant varieties much
faster and more effectively than through conventional breeding
alone.
This is the first joint venture and major equity investment in
gene editing made by Corteva Catalyst, the company's new
investment and partnership platform. The investment reflects
Corteva's nearly century-long track record (through its Pioneer
brand) of championing innovation through partnerships, including
with the global scientific community.
About Corteva:
Corteva, Inc. (NYSE: CTVA) is a global
pure-play agriculture company that combines industry- leading
innovation, high-touch customer engagement and operational
execution to profitably deliver solutions for the world's most
pressing agriculture challenges. Corteva generates advantaged
market preference through its unique distribution strategy,
together with its balanced and globally diverse mix of seed, crop
protection, and digital products and services. With some of the
most recognized brands in agriculture and a technology pipeline
well positioned to drive growth, the company is committed to
maximizing productivity for farmers, while working with
stakeholders throughout the food system as it fulfills its promise
to enrich the lives of those who produce and those who consume,
ensuring progress for generations to come. More information
can be found at www.corteva.com
About Pairwise:
Pairwise is pioneering the application
of gene editing technology in food and agriculture. The company
brings together leaders in agriculture and tech to harness
transformative genomic technologies to create innovative new
products that benefit society. Pairwise is working to develop new
varieties of fruits, vegetables, and large-acre crops, and to
partner with organizations that seek to deliver innovation across
the plant-based economy. Backed by industry leading investors
Deerfield, Aliment Capital, Leaps by Bayer, Temasek, and Corteva
Catalyst, Pairwise raised $40 million
in a successful funding round in September
2024, bringing total fundraising to $155 million. The company was co-founded by the
company's CEO Dr. Tom Adams and
agriculture innovator Dr. Haven Baker, with scientific co-founders
J. Keith Joung, Lead Translator at
Arena BioWorks; David Liu, Director
of the Merkin Institute of Transformative Technologies in
Healthcare, and Vice-Chair of the Faculty at the Broad Institute of
Harvard and MIT; and Feng Zhang,
McGovern Investigator and a professor at MIT. For more information, visit
Pairwise.com, and learn more about the differentiating
Pairwise Fulcrum™ Platform here.
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SOURCE Corteva, Inc.
