Edison Agrosciences, a startup based in Durham, N.C., will move its headquarters to Creve Coeur, where it plans to create at least six new jobs, the Missouri Department of Economic Development announced Monday.
Edison, which is developing ways to enhance the production of rubber by sunflowers, will receive $800,000 of investment as part of the move, according to a press release.
Contributors to the funding include the Missouri Technology Corp., a state-run partnership to foster the growth of startups in Missouri; BioGenerator, a St. Louis organization that invests in early-stage life sciences firms; and private investors.
Edison CEO Tom Christensen said in a release he was pleased with the way St. Louis organizations responded to the “financial, facility, and talent needs of high-potential, early-stage agricultural companies like Edison.”
The Edison announcement follows Gov. Jay Nixon’s announcement of a $10 million increase in funding for the Missouri Technology Corporation in his Fiscal 2017 budget.
Since 2011, the partnership IDEA Funds program has co-invested in 78 companies, according to the Department of Economic Development.