IBI Ag secures $6.1M to scale cost-effective bioinsecticides, led by Corteva Catalyst

By Agroempresario.com

Israel-based agtech company IBI Ag has raised $6.1 million in the first tranche of its Series A funding round, with Corteva Catalyst leading the investment. The funding aims to accelerate the commercialization of IBI Ag’s innovative bioinsecticides, which leverage single-domain antibodies, also known as nanobodies, to combat insect pests while maintaining environmental sustainability.

The round also saw participation from Israeli agtech venture capital firm The Trendlines Group, Iron Nation, Consensus Business Group, and the Israel Innovation Authority, which contributed via a grant.

Innovative approach to bioinsecticides

“Our approach is quite novel,” explains IBI Ag CEO Arnon Heyman. “We work with very special antibodies that are very, very small.”

While antibodies are widely used in medical and pharmaceutical applications, their high production costs have historically made them impractical for agriculture. However, IBI Ag has developed antibodies that are ten times smaller than conventional ones, significantly enhancing cost efficiency.

“With every gram of active ingredient in IBI Ag products, we have ten times more antibodies than typical medical applications,” says Heyman. “This is what gives us the advantage of being cost-effective.”

By making bioinsecticides more affordable, IBI Ag addresses a major barrier for farmers considering biological crop protection solutions.

Targeting insect pests with precision

IBI Ag was founded in 2017 by The Trendlines Group and researchers Amir Ayali, PhD, and Rony Oren Benaroya, PhD, with support from the Israel Innovation Authority.

The company’s bioinsecticide technology works by spraying nanobody-based formulations onto crops. Once ingested by pests, the nanobodies bind to the insect’s gut, causing digestive failure and ultimately eliminating the pest. Unlike conventional chemical insecticides, these biological solutions degrade rapidly in the environment, minimizing the risk to beneficial insects, other wildlife, and groundwater.

According to IBI Ag, its technology is effective against a broad spectrum of pests, including both sucking insects like aphids and chewing insects like caterpillars, making it suitable for a wide range of crops.

“We see considerable potential for IBI Ag’s bioinsecticides to be a smart solution for farmers to tackle devastating insects while minimizing environmental impacts,” noted Tom Greene, senior director at Corteva Inc. and global leader for Corteva Catalyst.

Scaling up production and regulatory approvals

IBI Ag is currently conducting field trials and plans to initiate the regulatory approval process in the United States by the end of the year. The U.S. has been identified as the company’s primary target market, with additional plans for regulatory registration in Latin America—where the regulatory environment for biologicals is favorable—and Europe.

A significant portion of the Series A funding will be allocated to scaling up production and navigating regulatory pathways. Additionally, the company plans to secure further investment to strengthen its market expansion strategy.

“We believe our single-domain antibody technology is a game changer for driving agricultural productivity while preserving the environment,” Heyman emphasized. “The investment announced today is a significant step towards delivering this innovation to farmers across the globe.”