Hennepin Partners Advises Plant Pathways on its Private Placement Financing
Sanford, NC – Plant Pathways, an advanced plant breeding platform initially focused on addressing the critical global health consequences of sugar overconsumption through the development and commercialization of its great-tasting, non-caloric, and non-GMO stevia varieties, has received investment capital from an undisclosed investor group. Hennepin Partners served as financial advisor to Plant Pathways in connection with the transaction.
Plant Pathways was initially formed and incubated within a global food and beverage Company, with the mission to identify a great-tasting, non-caloric, and non-GMO alternative to sugar that can be delivered at a commercial scale and cost. After scouring the world and evaluating numerous potential alternatives, Plant Pathways identified stevia as the only option which can feasibly be delivered at the requisite cost and scale. An undomesticated crop 200x-500x sweeter than sugar, stevia has been used as a natural sweetener for centuries but has remained in its commercial infancy due to poor taste and difficult formulation properties.
Through 10+ years of data-science-based plant breeding, leveraging its propriety Blend in Plant™ approach, Plant Pathways has effectively solved for the historical shortcomings of stevia – amplifying its positive properties while eliminating negative characteristics – and has amassed a library of thousands of great-tasting varieties for commercialization.
In conjunction with the transaction, Nishan Majarian – Co-Founder and CEO of Agrian and former Senior VP and Global Managing Director of TELUS Agriculture & Consumer Goods – has joined Plant Pathways as Chief Executive Officer.
“Plant Pathways’ proprietary data-science-backed Blend in Plant™ technology creates a unique opportunity to address the global public health crisis of sugar overconsumption by delivering a scalable, agriculture-based alternative to sugar,” said Nishan Majarian. “I am tremendously excited to be joining the team, and to execute on Plant Pathways’ clear path to improve human health worldwide.”
To continue building on the strong foundation of the Company, the founders and the other members of the board remain fully engaged in the strategic and operational leadership of the Company.
Proceeds from the transaction will be used to bolster the team, accelerate the commercialization of Plant Pathways’ great-tasting stevia varieties, and continue new varietal development through Plant Pathways’ advanced breeding program.
For additional information, visit www.plantpathco.com.