genXtraits Inc. Announces Closing of First Capital Raise
ALAMEDA ISLAND, Calif.--(BUSINESS WIRE)--genXtraits Inc. (genXtraits) is pleased to announce the closing of its first capital raise. The proceeds will be used to consolidate and expand the firm’s intellectual property (IP) portfolio of technology for the genetic control of plant traits.
genXtraits is a new California-based crop genomics company, which was founded in late 2022 by plant biotechnology industry veterans. The firm is focused on developing the next generation of crop traits, which will both protect crop yield in the face of climate change and provide consumers with more delicious and healthy food choices.
genXtraits’ foundational IP platform is centered on the recent discovery of a whole new tier of genome regulation that modulates the translation of gene products into functional proteins. This newly recognized mode of regulation is widespread in both plants and other eukaryotic organisms. The company has developed proprietary algorithms which identify the DNA elements that impose this type of regulation on master control genes that impact key crop traits such as yield potential, stress tolerance and nutrition. Having identified such DNA elements, the firm is using modern molecular techniques to modify them without the need to insert foreign DNA sequences. The result is a portfolio of novel crop varieties that have desirable characteristics, including drought and heat tolerance, disease tolerance, improved nutritional content, and better flavor.
Dr. Jacqueline Heard, an experienced industry executive, and independent Director on the Board of genXtraits, commented, “With climate change driving down crop yield and consumers demanding better quality food, there is a huge unmet need for new crop varieties. With its unique IP around genome regulation, genXtraits is uniquely positioned to deliver the next generation technology that is vital for crop improvement globally.”
About genXtraits, Inc.
genXtraits is committed to delivering a new generation of crop varieties that are adapted to a changing climate. The company has assembled a world class multinational scientific advisory board and a leadership team with experience reaching back to inception of the genomics era in the mid-1990s. For more information, please visit: https://genxtraits.com/
Dr. Oliver J. Ratcliffe (firstname.lastname@example.org)