NewLeaf Symbiotics (formerly known as TrophoMax LLC), a St. Louis, MO.-based an agricultural biotech firm, has completed a $7.0m financing.
Led by CEO Tom Laurita, NewLeaf Symbiotics is commercializing a family of beneficial bacteria known as PPFMs (Pink Pigmented Facultative Methylotrophs), which are microorganisms that supply several essential nutrients that all plants need to grow. They have been shown to improve plant health, promote early growth, and increase crop yield.
The company intends to use the funding to further its field trials across a number of key market segments, advance product formulation efforts, and to expand its growing portfolio of intellectual property.
NewLeaf Symbiotics is based in the Bio-Research & Development Growth (BRDG) Park at the Danforth Plant Science Center in St. Louis, MO.