Syngenta Ventures announced that it has made an equity investment in Durham, NC-based Metabolon, Inc., a U.S. biotechnology company focused on the use of metabolomics in research and diagnostics.
The equity investment was made in the Series C financing of Metabolon which raised in total $12.3m from a number of investors, including Syngenta Ventures.
Financial details of the equity investment were not disclosed.
Syngenta Ventures will take a seat on the Board of Metabolon.
Metabolon is a diagnostics and services company offering the industry’s leading biochemical profiling platform that provides a global analysis of complex biological samples for the discovery of markers.
This is the first direct investment by Syngenta Ventures, Syngenta’s newly-established corporate venture capital subsidiary.
Commenting on the new vehicle, Robert Berendes, Head of Business Development at Syngenta, said: “The creation of Syngenta Ventures will complement our in-house R&D work and enables us to be even more involved in promising technologies and innovative products with external partners.
“We need access to the best available new technologies in order to achieve the increase in agricultural output which will be vital over the coming years”.