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FMC ANNOUNCES COLLABORATION WITH BIOTECH RESEARCHER AGROSPHERES
May 10, 2024
Source: FMC Corporation news release
Philadelphia, PA -- FMC Corporation (NYSE:FMC), a leading global agricultural sciences company, today announced a research agreement with AgroSpheres, a biotechnology company pioneering breakthroughs in sustainable crop protection and crop health. The agreement will accelerate the discovery and development of novel bioinsecticides, which is a key part of FMC's long-range strategic plan.
The agreement aims to bolster FMC's position as the market leader in insecticides and AgroSpheres' speed to market for its ribonucleic acid (RNA) portfolio by pairing AgroSpheres' production and formulation technology with FMC's high throughput testing, evaluation, and go-to-market capabilities. In 2023, FMC Ventures invested in AgroSpheres, a startup developing biodegradable micro-encapsulation technology to improve the delivery, stability and efficacy of biological crop protection products based on RNA interference (RNAi) technology.
"Our research agreement with AgroSpheres marks a significant milestone in FMC's commitment to advancing sustainable agriculture through innovation," said Dr. Seva Rostovtsev, FMC executive vice president and chief technology officer. "We believe RNAi can provide a suite of powerful new tools for the crop protection market and that AgroSpheres has built a powerful platform to discover and manufacture these new technologies. This collaboration is a testament to our dedication to innovation and excellence in crop protection. It underscores our belief in the power of partnership to drive agricultural science forward, ensuring a healthier planet for future generations."
RNAi biomolecules have demonstrated great promise in the lab but have struggled to yield consistent results for commercial biological development. AgroSpheres' patented AgriCell manufacturing technology allows for the expression of a wide array of RNA molecules while yielding consistent results. AgroSpheres' production of encapsulated RNA biomolecules delivers enhanced stability, performance and targeted uptake in pests. AgroSpheres' groundbreaking biomodality approach targets specific, yet diverse, biological actions, efficiently multiplying product offerings and innovation.
"In a global market desperately in need of effective tools to combat resistance, FMC has shown foresight by investing in next-generation technologies and setting aggressive goals to meet demand for high-performance biologicals," said Ameer Shakeel, founder and chief technology officer of AgroSpheres. "As leaders in bringing molecules to market, they are an ideal partner for AgroSpheres as we progress to comprehensive product development. We are excited to codevelop with the FMC team."
About AgroSpheres
AgroSpheres is a pioneering agricultural technology company committed to addressing the most pressing challenges in global agriculture. By harnessing the power of cutting-edge science and technology, AgroSpheres is developing innovative solutions to promote sustainable and efficient farming practices. The company's mission is to revolutionize agriculture, making it more productive, eco-friendly, and capable of feeding the growing global population.
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