moa has secured funding of £6.3m ($8m) to develop its unique in vivo herbicide discovery platforms GALAXY, TARGET and SELECT.
The Series A funding round was co-led by Oxford Sciences Innovation, the world’s largest university venture fund, and Parkwalk Advisors, the largest EIS (enterprise investment scheme) growth fund manager focused on university spinouts.
Oxford University Innovation, the University’s innovation arm, assisted in spinning the company out in 2018. Professor Liam Dolan, moa's co-founder from the Department of Plant Sciences at Oxford University, said:
“We have redesigned the discovery process in its entirety. Not only do we focus on identifying new potential modes of action at the outset, but our platform combines in vivo screening with a high throughput capability. Early results are extremely promising”.
Hadyn Parry, Chairman of moa, added:
“Weeds are now a greater threat to crop yields than at any time in recent decades. New solutions are urgently needed. Raising £6m at this stage in the company’s development is a real testament to the strength of the company’s prospects.”
Over the next couple of years moa plans to progress several new active ingredients towards development and work with partners to make them available to farmers worldwide.