Plastomics tapped former Bayer/Monsanto exec Tania Seger to be it’s new CEO. BioGenerator EIR Martha Schlicher has been serving as CEO, and talked with bizblip about why Seger is key to this startups future.
Martha Schlicher, Plastomics
“She brings a wealth of experience in agriculture, but also in finance, as she has spent the past number of years leading the North America Finance organization for Bayer, and prior to that, Monsanto,” Schlicher told bizblip. “But also, with her husband, running a 4000 acre farm on the Illinois side of the river. She understands firsthand what growers need, and she and her husband are early adopters of new and innovative technologies to make their farm more efficient. The beauty of Tania coming on board is because she brings not only the CEO capabilities, but also her finance capabilities… and at this stage for Plastomics, you need to spend all your money on the science, so you don’t want to overload your C-Suite. And this allowed us to put in Tania (as a) full time employee wearing both of those hats.”
Plastomics is developing a new way to design crops by editing the chloroplast rather than the nucleus. They’re focusing on corn and soybean crops. The chloroplast is the organelle in the plant cell where photosynthesis happens, converting energy from the Sun into chemical energy. The approach has claimed advantages over current technology, which manipulates the cell nucleus, including no-outcrossing, faster development, and a higher expression of the desired trait.
“While I am leaving the day-to-day role, I’m assuming the Executive Chairman role of the board,” Schlicher said. “I’ll be there to help Tania in any way possible. As I have always committed to investors (and) shareholders in Plastomics… I am in it for their success for the long haul.”
Founded in 2016 by Jeffrey Staub and Ralph Bock, raised $2.2-million in seed funding, and an undisclosed venture round from TechAccel in 2018. Plastomics has also been funded by The Yield Lab, Biogenerator, St. Louis Economic Development Partnership, The Helix Fund, Missouri Technology Corporation and the St. Louis Arch Angels. Also in 2018, the company converted more than $2-million in debt. The company has “nearly 20” employees, mostly scientist housed in their lab space at the Helix Center Biotech Incubator in the St. Louis suburb of Creve Coeur.
Links:
On bizblip:
Plastomics lands $7.1M Series A
Plastomics hires key VP; moves
Plastomics partners with seed-trait producer
