Vestaron Corporation, the biological insecticide company, has completed an oversubscribed Series D round of financing totaling $18 million dollars. The round was completely funded by existing investors in the company.
The company will introduce its first product, SPEAR-T, before the 1st quarter selling season next year. SPEAR is believed to be the first biological insecticide that performs with efficacy comparable to that of synthetic insecticides, but with the benign effects of a biological insecticide. Two additional products utilizing the same active ingredient are slated for introduction later in 2017.
“We intend to use this additional investment to expand our research and development of new bioinsecticides, new synthetic molecules derived from them, and new plant incorporated insecticides,” said John Sorenson, president and CEO of Vestaron.
Source: fruitgrowersnews.com
