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Mendel Biotech Scores Venture Capital Funding

Thursday, November 10, 2011 5:51:00 AM PDT | VentureDeal Staff

   Hayward, California -- Mendel Biotechnology has secured $11.8 million in additional venture capital funding, according to an SEC regulatory filing.

Mendel has identified and patented the use of genes that control a variety of aspects of plant growth and development.

The company says that the benefit of using such inventions is to develop new plant varieties with improved productivity and quality.

Strategic partners include lead partner Monsanto, BP, Bayer Crop Science and ArborGen.

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.Mendel is still seeking $24 million in additional financing, according to the filing.

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