This Deal Matters: Evogene files for IPO
Evogene, an Israeli developer of biotechnologies geared toward developing improved plants for agriculture and biofuel industries through use of plant genomics, filed for an IPO on the NYSE on November 11. The company plans to raised $86 million and would have a market value of $412 million at the midpoint of its proposed range. Evogene has established collaborative relationships with Monsanto, DuPont, Syngenta, and Bayer CropScience, showing real traction with the top players in the industry.
While the public markets have opened up a bit, with BioAmber, Control4, and Silver Spring Networks recently listing, it is still tough for companies in the areas of energy, materials, water, and agriculture to go public. However, Evogene is not the only agriculture company approaching the public markets. Marrone Bio Innovation, a US developer of natural weed, pest and disease management products, raised $57 million on NASDAQ in its August 2013 offering.
With Evogene’s filing, we could see even deeper interest in companies working on geed genomics for both agriculture and biofuels. To see which companies may be on the road to a public offering or could attract large venture rounds, we rounded up some of the most promising companies in the area.
- Kaiima, an Israeli developer of genomic-based breeding technology to develop high-yielding energy crops for bio-diesel, bio-ethanol, and biomass energy, recently raised $65 million from Horizon Ventures, International Finance Corporation (IFC), Infinity Group, Draper Fisher Jurvetson (DFJ), DFJ Tamir Fishman Ventures, Mitsui, Kleiner Perkins Caufield & Byers (KPCB), and Musea Ventures.
- Synthetic Genomics, a California-based developer of genomic solutions for energy, food, agriculture, water, and medicine, recently inked a relationship with ExxonMobil and raised a round from Monsanto.
- Arcadia Biosciences, a California-based developer of agricultural technologies such as low water and nitrogen consuming plants, salt tolerant plants, and extended shelf-life produce, is working with USAID to develop salt-tolerant rice and measure greenhouse gas emissions from conventional rice fields in Asia.
Might one of these companies be the next agriculture company to head for the public markets? Stay tuned to “This Deal Matters” to read about the most relevant public filings, investments and happenings across energy, water, materials, and agriculture.