moa secures more funding

MoA Tech investment means better prospects for controlling weeds in rice

Two new investors are to fund moa with a further £5 million extension to the company’s Series A funding round.  Shanghai-based Bits x Bites and BGF, based in the UK and Ireland, have joined earlier investors bringing the total raised to around £12 million.

moa was spun-out from Oxford University’s Department of Plant Sciences in 2018.   Its unique in vivo herbicide discovery platforms  GALAXY,  TARGET and  SELECT are filling a pipeline of exciting new molecules now entering field testing.

Bits x Bites invests in early-stage start-ups with transformative technologies in Agriculture and Food.  Of foremost interest are threats to the food system in China. Researchers at Hunan Agricultural University published a paper in 2019 reviewing the status of herbicide resistant weeds in China.  They noted how the problem has escalated over the past decade and weeds with cross-resistance to multiple modes of action now pose a serious threat to Chinese agriculture.  This is aggravated by the lack of new herbicides becoming available.

BGF has invested in nearly 400 businesses since 2011 in a wide range of sectors including Energy, Healthcare, Food & Drink and Life Sciences.  The focus is on supporting growth in entrepreneurial companies.

moa CEO, Dr Virginia Corless said: "This further boost to funding will support the expansion and acceleration of our discovery programme, which will deliver new herbicides to benefit farmers worldwide."