Ascribe Bio Secures $12 Million in Series A Funding
Ascribe Bioscience, a 2021 Grow-NY $500,000 prize winner, has closed a $12 million Series A financing round, marking a major milestone for the Ithaca-based agricultural biotechnology company. The round was co-led by Corteva, through its Corteva Catalyst platform, and Acre Venture Partners.
Founded in 2017, Ascribe Bio emerged from research conducted at Cornell University’s Boyce Thompson Institute (BTI). The company was established by BTI scientists and Cornell faculty members Frank Schroeder and Daniel Klessig, BTI senior research associate Murli Manohar, and CEO Jay Farmer. Their work centers on the soil microbiome and the discovery of naturally occurring small molecules that plants can detect, triggering innate defense responses to better resist disease.
That science led to Ascribe’s lead commercial product, Phytalix, a natural small molecule biofungicide that introduces a new category of crop protection to the market. Rather than killing pathogens through toxic effects, Phytalix strengthens plants from within, priming their natural defenses against fungal, bacterial, and viral diseases.
Farmers today face mounting pressures: plant disease and damage destroy up to 25% of crops globally each year while chemical solutions are losing effectiveness, and many biological alternatives struggle to compete on cost or reliability. Phytalix offers a new solution that offers the best of both worlds, delivering the sustainability benefits of biologicals with the ease of use, affordability, and performance farmers expect from traditional chemical products.
Phytalix can be applied as a foliar spray, seed treatment, or tank-mixed with existing crop protection products, allowing it to integrate seamlessly into modern farming practices. It is non-toxic, biodegradable, and bee-friendly, safeguarding soil health, farm workers, and consumers while delivering broad-spectrum disease protection at minimal application rates. Growers using Phytalix can reduce synthetic fungicide applications by 50% or more while maintaining yields and protecting soil ecology.
Ascribe’s growth accelerated following its $500,000 Grow-NY investment in 2021. That early validation helped the company establish credibility and attract additional capital, leading to a $2.5 million seed round co-led by The Yield Lab and Acre Venture Partners, with participation from Trailhead Capital and Ponderosa Ventures. With that funding, Ascribe expanded local hiring and conducted extensive global field trials, building the data and momentum needed to engage major industry partners.
Those efforts culminated in a strategic partnership with Nutrien Ag Solutions, which is integrating Phytalix into Loveland Products premixes for the U.S. market. The strength of Ascribe’s technology, field results, and partnerships ultimately positioned the company to secure its $12 million Series A funding in the fall.
This latest investment will advance Ascribe’s technology platform and support the upcoming commercial launch of Phytalix. The company plans to ramp up manufacturing and early commercialization activities ahead of its first regulatory approval, expected later this year in Brazil, with the United States and additional global markets to follow.
From lab discovery at Cornell to global field trials and commercial partnerships, Ascribe Bio’s journey highlights how Grow-NY’s early investment can help transform scientific breakthroughs into scalable solutions for farmers worldwide.