ICIG invests in Ascribe Bio’s Phytalix: a game changer for farmers

ICIG Ventures, the investment arm of International Chemical Investors Group (ICIG), has announced an investment in Ascribe Bio to support the commercial launch of Phytalix, a small-molecule biofungicide designed for large-scale row crop farming. Ascribe Bio, an Ithaca, NY-based agriculture technology company, develops natural crop protection solutions derived from soil microbiomes, originating from research at the Boyce Thompson Institute at Cornell University.

Phytalix offers a cost-effective alternative to traditional chemical fungicides, addressing challenges such as rising resistance and the high costs associated with many biological solutions. Unlike conventional fungicides that rely on toxic effects to eliminate pathogens, Phytalix strengthens plant defenses, providing broad-spectrum protection against fungal, bacterial, and viral diseases. It enables growers to reduce synthetic fungicide applications by 50% or more while maintaining yields and minimizing damage to soil ecology.

Additionally, the product is designed for ease of use—applicable as a standalone solution or in combination with common agricultural treatments –  and seamless integration with conventional agricultural practices while providing reliable disease control, helping farmers improve yields and reduce environmental impact. Pending regulatory approvals in Brazil and the U.S. are expected to further expand its market potential, positioning it as a scalable and effective solution for modern agriculture. The funding will enable Ascribe to scale production and accelerate regulatory approvals in the U.S. and Brazil.

With over 500 successful field trials in key fungicide markets and a distribution agreement with Nutrien for U.S. row crops, the company is positioned to introduce its product to a wider market. Leveraging ICIG’s global chemical manufacturing capabilities, particularly through its WeylChem Group of Companies, the investment will facilitate the large-scale production of Phytalix. ICIG, a privately owned industrial group with more than $4.3 billion in annual revenue, operates over 50 production sites across Europe, the U.S., and India, specializing in fine chemicals, care chemicals, chlorovinyls, and industrial solutions.

According to ICIG Ventures Director Pelin Yilmaz, the investment represents a step forward in sustainable crop protection, with ICIG’s expertise in small-molecule manufacturing ensuring efficient production and broad market access. Ascribe CEO Jay Farmer emphasized that ICIG’s manufacturing network will enhance the company’s ability to meet global demand and accelerate commercialization.