Transaction Will Allow GreenLight to Better Harness Its Breakthrough Platform to Develop and Produce RNA for Human Therapies and Agriculture
Our portfolio company, GreenLight Biosciences, announced that it will become publicly listed through a business combination with special purpose acquisition company Environmental Impact Acquisition Corp. We are thrilled to see GreenLight achieve this exciting milestone which will accelerate their ability to develop a breakthrough biomanufacturing platform capable of discovering, developing, scaling, and commercializing ribonucleic acid (RNA) solutions at volume across multiple sectors in agricultural and human health markets. GreenLight’s solution massively reduces the cost of producing the highest quality RNA at scale, opening the door for global scale production in human health and affordable use of RNA in agricultural applications.
“We believe that GreenLight’s breakthrough platform can create advanced therapies, vaccines, and crop-protection products that address—quickly, directly, and specifically—some of the most significant problems facing the world today,” says GreenLight CEO Andrey Zarur. “Going public through this partnership will accelerate development and commercialization by enabling us to attract the talent, purchase the tools, scale our manufacturing infrastructure, advance regulatory approvals, and develop further the science necessary to address some of humanity’s most pressing challenges.”
GreenLight harnesses the power of biology to develop RNA-based solutions for some of humanity’s greatest challenges in human health through mRNA vaccines and therapeutics and in food production through RNA crop-protection products. The company’s breakthrough cell-free RNA manufacturing platform, which is protected by numerous patents, allows for cost-effective and scalable production of RNA.
Proceeds from the transaction are expected to provide GreenLight with the capital needed to advance two key following priorities.
For crop management and plant protection, GreenLight’s most advanced products in development are RNA-based pesticides aimed at protecting honeybees, which are key plant pollinators, from the parasitic varroa destructor mite, and protecting staple food products from destructive insect pests. The traditional chemical pesticides currently in use face increasing consumer opposition and the threat of outright bans due to concerns over their damage to the environment. In addition, crop-destructive pests have developed resistance to many traditional pesticides. Also, the non-specificity of traditional pesticides can result in the unintended killing of insects that are beneficial to crops. GreenLight’s RNA solutions address farmer, consumer, and environmental concerns by being highly effective, cost competitive to other premium solutions and safe for nontarget insects.
For human health, GreenLight is developing an mRNA manufacturing platform aimed at providing mRNA-based therapeutics at scale and at an appropriate price for global needs. The company’s lead vaccine programs include vaccine candidates for Covid-19 and influenza. Earlier-stage programs are being developed to address other unmet medical needs, such as sickle cell disease. GreenLight is on a vital mission to rapidly vaccinate the world using RNA technology and have put forth a proposal for a network of seven RNA vaccine factories capable of vaccinating the entire human population quickly. The company’s innovative manufacturing process is integrated, simple, scalable and eliminates critical supply chain dependencies making it optimally suited to play a crucial role in this effort.
Following the merger with Environmental Impact Acquisition Corp, GreenLight will continue to be led by co-founder and CEO Andrey Zarur and supported by the existing management team.
Congratulations to the GreenLight team on this exciting milestone in your journey.
At S2G, it's our mission to back trailblazing entrepreneurs who are working to build a healthier and more sustainable food system. Entrepreneurs are on the frontlines every day, working hard to innovate and bring new products to market that are making food healthier, more sustainable and more accessible. It’s our goal to support them in their journey and we look forward to continuing to support entrepreneurs that create better outcomes for human health and well-being. We invite you to learn about the innovative companies in our portfolio and hear their stories on our blog Seeding Change and podcast Where We Grow From Here.