Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3bb3f36c-51c6-4093-b60e-1cf96ac6fb03&Preview=1
Date 5/9/2012
Company Name Vestaron
Mailing Address 4717 Campus Drive Kalamazoo, MI 49008
Company Description Vestaron Corporation is developing a new generation of insecticides by employing peptides sourced from spiders – insecticides that are ideally suited for the environmentally conscious, twenty-first century. Over 50 unique, spider-venom peptides with novel sites of action have been identified and are being exploited. This patented technology is exclusively licensed to Vestaron. The company has three initial spider venom-based active ingredients under development. All three are highly effective against insects and related pests and all are harmless to non-target species, including humans. Because Vestaron insecticides work through active sites that are different and distinct from current chemical pesticides, they bypass the existing problems of insect resistance and cross reactivity.
Proceeds Purposes Proceeds from the Series B financing are being used for continued commercial development of Vestaron’s biopesticide peptide based product, accelerated research for synthetic mimics to these peptides, and expanded agricultural biotechnology research and development of the use of Vestaron’s peptide as a Bt replacement in GMO portfolios.