K2 HealthVentures provided a $45 million loan and security agreement to Inari, a biotechnology company developing next-generation seeds. The funds complement Inari’s recent $89 million equity raise and will be used to accelerate the development and commercialization of gene-edited crops.
“Our alliance with K2HV enhances our financial position. It supports further expansion of our research and technology platform, as well as the development and commercialization of products that align sustainability with cutting-edge biotechnology,” Ponsi Trivisvavet, CEO of Inari, said. “The K2HV team has a strong understanding of our innovative approach to plant breeding and confidence in our vision of agriculture.”
Inari has achieved several key product milestones. Gene-editing technologies have been proven in tomato field trials, and Inari’s first generation of proprietary improved corn and soybeans are currently being tested in greenhouses. The company is gearing up to introduce its gene-edited hybrid corn and soybean varieties commercially in the near future.
“We’re excited to support Inari’s vision to create value through innovative scientific discovery and products focused on sustainability,” Parag Shah, founding managing director and CEO of K2 HealthVentures, said. “This financing follows our strategy of partnering with pioneering life science technology companies with world class management that aim to deliver solutions for critical global challenges.”
K2 HealthVentures is a life sciences-focused investment firm.
