Vestaron Corporation, a Kalamazoo, MI-based company that designs environmentally friendly insecticides, raised an additional $4m and closed its $14M Series C financing.
Anterra Capital made the investment. The round also included Cultivian Sandbox Ventures, Southwest Michigan First Life Science Venture Fund, Open Prairie Ventures, Pangaea Ventures, Michigan Accelerator Fund and others (read here).
The company intends to use the funds for the commercialization of its first product.
Led by John Sorenson, CEO, Vestaron exploits the natural insecticidal properties of a class of peptides which have insect killing potential, but which are safe to humans, birds, fish, and the environment, including honeybees. In addition to the bioinsecticides, the company is putting the genes for the peptides into crop plants, and is modeling the active sites of the peptides to identify synthetic mimics that also have a favorable safety spectrum.