With $25M Infusion, Pairwise Partners with Corteva to Plant Seeds for Gene Editing Breakthroughs

Smith Anderson client Pairwise, a global leader in gene editing technology for food and agriculture, has raised $40 million in Series C funding, including a $25 million equity investment from seed giant Corteva, Inc. (NYSE: CTVA). In parallel, the companies are forming a separately funded joint venture aimed at accelerating gene editing technologies to improve crop resilience and sustainability as the climate changes.

Pairwise’s innovative Fulcrum^TM Platform of gene-editing tools allow scientists to create precisely targeted genetic variations, developing new plant varieties faster and more efficiently than traditional breeding methods, according to a press release. The technology uses a plant's own DNA to enhance resiliency to extreme weather and improve resource efficiency, helping farmers grow crops that withstand droughts and extreme temperatures.

Corteva combines innovation with a focus on solving key agricultural challenges. Its collaboration with Pairwise strengthens both companies' efforts to improve crop yields, and grower economics through gene-edited products.

Smith Anderson AgTech attorneys John Therien, Tory Hartmann and Jason Brege counseled Pairwise in the strategic collaboration to form a joint venture with Corteva. The firm has a longstanding relationship with Pairwise, including advising on a 2023 multi-million-dollar agreement with Bayer to enhance gene-edited corn for Bayer’s Preceon™ Smart Corn System. The firm also advised Pairwise on its collaboration with Plant Sciences, Inc. (PSI) to develop new types of black and red raspberries and blackberries and a partnership with Monsanto and Harvard University to address the biggest global challenges facing the future of food.  

The full press release can be viewed here.

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About Pairwise

Pairwise of Durham, North Carolina, is pioneering the application of gene editing technology in food and agriculture. The company brings together leaders in agriculture and tech to harness transformative genomic technologies to create innovative new products that benefit society. Pairwise is working to develop new varieties of fruits, vegetables and large-acre crops and to partner with organizations that seek to deliver innovation across the plant-based economy. For more information, visit Pairwise.com, and learn more about the differentiating Pairwise Fulcrum™ Platform here.