Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation

NEW YORK, Aug. 20, 2015 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (NASDAQ:TINY), an investor in transformative companies enabled by disruptive science, notes that its portfolio company, AgBiome, a leading agricultural research firm, has raised $34.5 million in a Series B round of financing. Harris & Harris Group participated in the financing led by the Bill and Melinda Gates Foundation (“BMGF”). The funds raised will be used to advance AgBiome’s research and development programs as well as support the launch of its first products. AgBiome will also work closely with BMGF to use its technology and products to help the poorest farmers world-wide.

“We continue to be impressed with AgBiome’s progress and view this financing as an important step in the company’s growth,” says Misti Ushio Ph.D., Managing Director and Chief Strategy Officer at Harris & Harris Group. “This financing coupled with the recent announcement of a collaboration with Genective to create novel insect-resistant crops support our continued belief that AgBiome, among a number of other companies in our current portfolio, could be a driver of potential future growth for Harris & Harris Group.”

AgBiome's press release can be viewed at http://www.prnewswire.com/news-releases/agbiome-secures-345-million-series-b-financing-300130936.html.

About Harris & Harris Group

Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.

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Press Contact: Alexandra Spurgeon, Account Executive Gregory FCA Alexandra@GregoryFCA.com 610-228-2140

Source:Harris & Harris Group