Invaio Sciences Inc. has entered a $50 million security and loan agreement with life sciences and healthcare-focused investment company K2 HealthVentures.
Invaio Sciences to use funds to expand R&D
The company plans to use the funds in expediting the R&D and commercialization of its platforms that focus on natural active ingredients discovery, understanding new modes of action, and creating exceptional precision delivery systems. Its pioneering solutions can potentially reduce fertilizers and chemical pesticide use, conserve water, and enhance the agricultural food system.
Invaio CEO Ignacio Martinez said, “Invaio’s partnership with K2HV will help us expand our geographic footprint and accelerate the development of breakthrough platforms focused on developing integrated solutions in three market segments: perennials, row crops and vegetable crops. Our ambition is to build the most impactful and valuable crop health company on the planet. The world is changing quickly, and food production practices must adapt to keep pace with evolving consumer demands, changing environmental conditions, and increased stress on ecological resources.”
K2 HealthVentures CEO and founding managing director Parag Shah said, “We believe Invaio’s suite of platform technologies is the precision medicine answer for the agriculture world. This financing follows our strategy of partnering with pioneering life science technology companies with world class management that aim to deliver solutions for critical global challenges.”
Governor Abbott bans vaccine mandates.
Texas Governor Greg Abbot has banned vaccine mandate in the state for both public and private entities. However, Southwest Airlines and American Airlines have indicated that they will still require the employee to get vaccinated, resulting in possible legal ramifications.
University of California Hastings College of Law professor Dorit Reiss commented, “So Governor Abbott has powers under the Texas Government Code to issue emergency orders, including this one. And it has the force of law and it comes with a potential fine. So for all intents and purposes, it’s the law in the sense that businesses that ignore it may face fines and may face consequences unless they can challenge it in court and win.”
