Sunday, April 27, 2008

Evolutionary Genomics: Series A Undisclosed

Evolutionary Genomics (Lafayette) an agricultural technology company who addresses the critical need to increase the availability of biofuel feedstocks has closed an undisclosed Series A financing with Denver-based Altira Group; not to be confused with the Altria Group or its much better known previous name Philip Morris (NYSE: MO).

EG’s Adapted Traits Platform is used to screen gene adaptations in biofuel feedstocks such as corn, switchgrass, sugar cane, algae and soybeans to improve yield-related traits, such as grains per plant, grain weight, yield per acre, biomass, drought resistance and disease resistance.

Altria Group focuses their fund thesis on the traditional and renewable energy sectors. The commitment to EG came from their $176M Fund V. Investments from this fund have typically been made in the $5-$10M range with follow-on investments as warranted.

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