BELGIUM - KBC Private Equity sells stake in CropDesign

No financial details have been disclosed. CropDesign is a biotechnology company delivering traits for the global seed market and for plant-based products. It uses its proprietary TraitMill platform to discover genetic traits for the improvement of corn, rice and other plants. The company was founded in 1998 and currently employs more than 70 staff at its research facilities in Ghent.

The company has previously attracted seed financing from GIMV, Atlas Venture and Sofinova (1998). In 2000, the company received further funding from the same investors and Gilde and in 2003 it secured backing of up to EUR 2.4m from the Institute for Promotion of Innovation through Science and Technology in Flanders.

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