Pairwise, a company using gene-editing technology to improve crop breeding, has raised $40 million in its latest funding round. Led by Deerfield Management, the round also saw participation from existing backers like Aliment Capital and Leaps by Bayer, as well as new investor Corteva, Inc., a major player in agricultural technology.
The funding will help Pairwise continue developing crops like seedless blackberries and pitless cherries, while expanding its Fulcrum™ Platform, which uses gene editing to make targeted improvements to various plants. The company hopes to make fruits and vegetables more convenient for consumers and better suited for farmers facing climate challenges.
“We founded Pairwise to speed up innovation in agriculture,” said CEO Tom Adams. “This investment will help us continue developing crops that are not only healthier for people but also easier to grow.”
Corteva’s involvement also includes a five-year joint venture with Pairwise, aimed at accelerating the use of gene-editing in agriculture. Sam Eathington, Corteva’s Chief Technology and Digital Officer, emphasized that gene editing will play a key role in making crops more resilient to climate change.
Pairwise has already made strides in the field, having introduced a CRISPR-edited mustard green with a milder taste and collaborating with Bayer on new crop traits like short-stature corn, which can better withstand high winds and challenging weather.
This funding round highlights the growing interest in gene-editing technology as a way to tackle food production challenges in a rapidly changing world.