Calyxt expands end markets for PlantSpring and BioFactory tech

In Minnesota, Calyxt, Inc., a plant-based synthetic biotechnology company, announced a new strategic direction to provide sustainably produced plant-based synthetic biology solutions to an expanded group of end markets and diversified base of customers, leveraging its proprietary PlantSpring Technology Platform and BioFactory Production System, which together will enable Calyxt to rapidly prototype and produce complex plant-derived compounds without the need for outdoor cropping systems.

The expanded group of end markets includes the nutraceutical, cosmeceutical, pharmaceutical, advanced materials, and chemicals industries.

Calyxt also commissioned its first pilot BioFactory, expected to be online by the end of 2021, appointed IBM’s Global Chief Artificial Intelligence Officer, Dr. Seth Dobrin, to Calyxt’s Scientific Advisory Board (SAB), launched a $50.0 million at-the-market (ATM) share issuance program, entered into a research collaboration with a leading global food ingredient manufacturer based in Asia to develop an improved soybean capable of producing an oil as a sustainable commercial alternative to palm oil, sold nearly all the 2020 grain crop to Archer Daniels Midland (ADM), generating $35.7 million in total cash since sales commenced in Q3 2020.