U.S. Vestaron Corp., a peptide-based biopesticides company, has completed with $40 million in Series B investment round.

Danish asset manager Novo Holdings A/S led the funding with participation from existing backers, Anterra Capital, Cultivian Sandbox, Open Prairie Ventures, and Pangaea Ventures.

Vestaron intends to use the new capital to back the commercialization of its Spear family of products, including expansion into new geographies, and to accelerate the development of its pipeline of additional peptide-based biopesticides.

The company, with approximately $15 million in revenue annually, has raised a total of $89.2 million in over ten financing rounds.