New fund aims to bring Israeli agritech marvels to the world

Hebrew University’s Yissum tech transfer company sets out to commercialize local innovative agricultural technologies

A CollPlant tobacco hothouse, used for 'growing' human collagen. Collplant's technology was developed at Hebrew University and commercialized by Yissum (Photo credit: Courtesy)
A CollPlant tobacco hothouse, used for 'growing' human collagen. Collplant's technology was developed at Hebrew University and commercialized by Yissum (Photo credit: Courtesy)

An edible biodegradable film that would extend the shelf life of fresh produce is among the first of the innovations that Agrinnovation, a new investment fund run by Hebrew University’s tech transfer company Yissum, hopes to bring to market.

The biofilm, which is intended for crops such as bell peppers, eggplants, tomatoes, apples, nectarines, plums, citruses and cherries, as well as stored garlic and onion bulbs, is being developed by Prof. Amos Nussinovitch, from Hebrew U’s Institute of Biochemistry, Food Science and Nutrition, and Prof. Haim David Rabinowitch and Dr. Yonatan Elkind, both from the Institute of Plant Sciences and Genetics in Agriculture.

Nussinovitch has been studying biofilms for over two decades, and in many tests he and his team have slowed deterioration in a wide variety of fruits and vegetables using gum-based formulations. In addition to reducing spoilage during storage, the novel coating also improves the product’s glossiness, its mechanical handling properties, and retention of volatile flavor compounds, Hebrew University said.

The biofilm is one example of the tech Yissum hopes to commercialize in the coming years, said Yaacov Michlin, CEO of Yissum and chairman of Agrinnovation’s board of directors.
“The Hebrew University’s Faculty of Agriculture is the source of an impressive track record of commercial success, and is responsible for Israel’s leadership in the field.”

Agrinnovation, managed by Dr. Ido Schechter, will fund promising applied technologies originating from The Hebrew University’s Faculty of Agriculture which has over 100 researchers working on novel inventions in diverse fields such as agriculture, food, nutrition, veterinary medicine and clean-tech. Each year, the fund will invest in approximately five outstanding early-stage projects, at times with a strategic partner, with the objective of bringing them to a successful proof-of-concept. The projects will then form the foundation of start-up companies for the further development and commercialization of cutting-edge products.

With the announcement of the fund’s opening, Yissum also announced that Agrinnovation had received $4 million in a seed funding round led by the Victor Smorgon Group from Australia. Other investors include Yissum and the Provident Fund of the Employees of the Hebrew University of Jerusalem. In the coming days, Yissum said, it hopes to up that amount to $6 million, as a group of Chinese-Israeli investors is set to join the fund.

Other projects Agrinnovation will be funding at the outset are a technology developed by professors Michael Friedman and Amnon Hoffman from the School of Pharmacy – Institute for Drug Research, and Prof. Eran Lavy from the School of Veterinary Medicine for the controlled release of drugs for farm animals. The technology when fully developed will replace the need for recurrent injections of drugs such as antibiotics and painkillers with a one-time injection of the active substance for the duration of the treatment. The prevention of recurring injections eliminates unnecessary pain and discomfort for the animal, while saving time and money for the veterinary surgeon and the farmer.

Another technology to be funded, which was developed by Prof. Hanokh Czosnek from the Institute of Plant Sciences and Genetics in Agriculture, eliminates agricultural pests by electronic means, instead of chemicals. The technology helps farmers reduce to a minimum the use of pesticides in order to protect crops and livestock.

If the past is any indication, the new fund should be a huge success – as have Yissum projects in the past. Products commercialized by Yissum currently generate $2 billion in annual sales. Ranked among the top technology transfer companies in the world, Yissum has registered over 9,125 patents covering 2,500 inventions; has licensed out 750 technologies and has spun out 110 companies including Mobileye, BriefCam, CollPlant and Qlight Nanotech. Yissum’s business partners span the globe and include companies such as Syngenta, Monsanto, Roche, Novartis, Microsoft, Johnson & Johnson, Merck, Intel and Teva.

With a fund for agricultural technology, Yissum will be moving into a new area that promises great innovation – as well as great benefit for all, said Michlin. “Agrinnovation is an efficient investment vehicle in the next generation of groundbreaking innovation, which will ultimately give rise to innovative ag-tech products,” he added.

Most Popular
read more: