Mendel Biotechnology Raises $11.8M Toward $36M Target
November 11, 2011

Mendel Biotechnology Inc. a Hayward company manipulating plant genes for the bio-agriculture and bioenergy fields, has raised $11.8 million, according to a Securities and Exchange Commission filing.

In all, Mendel is aiming to raise $36 million. It did not say how the money would be used.

Led by President and CEO Neal Gutterson, privately held Mendel has cut deals with agricultural industry players like Bayer CropScience and Monsanto Co.    .Monsanto Co. Latest from The Business Journals Desai to head press maker Mark AndyShire, Atlas Venture team to invest in rare-disease startupsMonsanto sues rivals for royalties Follow this company .(NYSE: MON), which in September filed a petition with the U.S. Department of Agriculture to use soybean plants that contain a gene developed by Mendel that would increase yield.