Pairwise, a startup at the forefront of gene editing technology in agriculture, has successfully closed a $40 million Series C funding round, bringing its total equity funding to $155 million. This latest investment was led by Deerfield Management and includes contributions from returning investors such as Aliment Capital and Leaps by Bayer, along with a significant $25 million from new investor Corteva, which comes through its Corteva Catalyst platform. The funding will enable Pairwise to accelerate its product pipeline and enhance its suite of gene editing tools known as ‘Fulcrum.’
CEO Dr. Tom Adams expressed enthusiasm about the funding and the collaboration with Corteva, stating, “This is an incredible validation of our technology and an important signal that gene editing will play a major role in improving agriculture innovation moving forward.” He emphasized the strategic advantage of partnering with two of the largest agricultural companies, Bayer and Corteva, which will provide access to vast agricultural landscapes for implementing their technology.
The collaboration with Corteva is set to span five years, focusing on developing climate-resilient corn and soy varieties. Dr. Sam Eathington, Corteva’s chief technology and digital officer, highlighted the precision and speed of gene editing as transformative for modern plant breeding. Unlike traditional breeding methods, which often involve a degree of randomness, gene editing allows for targeted modifications of a plant’s DNA, making it possible to enhance desirable traits while minimizing unwanted characteristics.
Gene editing, particularly using the CRISPR-Cas9 technology, has gained attention since its introduction in 2012. Unlike genetically modified organisms (GMOs), which involve the introduction of foreign DNA, gene editing modifies existing DNA, often facing fewer regulatory hurdles. This technology allows scientists to make precise edits in a plant’s genome, such as inactivating genes linked to undesirable traits. Pairwise has utilized this technology to develop various crops, including corn with increased kernel counts and seedless blackberries.
Corteva has a long history of working with gene editing technologies and sees the collaboration with Pairwise as an opportunity to accelerate progress in crop development. Eathington noted that while Corteva has been successful in enhancing crops, the partnership with Pairwise could yield even greater innovations. “When we looked at what we have in-house, our proprietary capabilities, and what Pairwise is doing, we felt that one plus one equals three,” he stated, indicating that the combined efforts could significantly enhance productivity and sustainability in agriculture.
The regulatory landscape for gene editing varies globally, with the Americas generally adopting a positive stance on gene editing policies. In contrast, Europe has been more cautious, although recent discussions suggest a shift towards more workable regulations. Eathington pointed out that while Europe has not fully embraced gene editing, there are signs of progress that could facilitate the cultivation of gene-edited crops.
The five-year collaboration aims to leverage gene editing tools to address challenges such as drought tolerance and yield improvement. Eathington explained that traditional breeding techniques often lead to the loss of desirable traits while introducing unwanted characteristics. Gene editing technology, however, allows breeders to select specific genes and enhance variability in ways that were previously difficult to achieve.
As Pairwise continues to advance its gene editing technology and collaborate with major agricultural players, the implications for the future of crop development and food security are significant. The ability to create crops that are not only more resilient to climate change but also tailored to meet consumer preferences could revolutionize the agricultural landscape, paving the way for more sustainable practices and improved food production.