Key Takeaways:
- SOLASTA Bio raised $14 million in an oversubscribed Series A funding round to advance its peptide-based bioinsecticides.
- The round was led by Forbion, with participation from FMC Ventures, Corteva Catalyst, and other strategic investors.
- The funds will support SOLASTA Bio’s continued development, field trials, biomanufacturing scale-up, and US expansion.
- SOLASTA Bio aims to commercialize its bioinsecticides by 2027, targeting a $27 billion global insecticide market.
- The company’s insect control agents are designed to protect crops while preserving pollinators and biodiversity.
SOLASTA Bio, an agri-biotech company specializing in the development of nature-inspired bioinsecticides, has completed a $14 million Series A funding round. The oversubscribed round was led by Forbion through its BioEconomy fund, with co-lead investments from FMC Ventures and Corteva Inc. (via the Corteva Catalyst platform). Other participants included Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow.
This latest funding brings SOLASTA Bio’s total raised to $19 million. The investment follows a successful 2023 trials season, where SOLASTA Bio’s peptide-based insect control agents demonstrated strong efficacy in over 20 field trials across Europe, the UK, and the US.
Nature-Inspired Bioinsecticides
Founded in 2021 and based in Glasgow, SOLASTA Bio has developed the world’s first platform for creating bioinsecticides inspired by natural peptides. These agents selectively target insect pests while protecting beneficial pollinators such as bees. The bioinsecticides are designed to meet the same efficacy standards as conventional chemical solutions, addressing growing global demand for sustainable crop protection methods.
Shireen Davies, CEO and co-founder of SOLASTA Bio, noted that the company’s bioinsecticides have shown promising results in recent trials. “The high efficacy of our biopeptides, along with their environmental benefits, positions us to meet grower needs as we move toward commercialization,” she said.
Funding to Accelerate Growth
With the new investment, SOLASTA Bio will continue advancing its technology platform, expanding field trials, scaling up biomanufacturing, and growing its presence in the US, where the company has already established operations in North Carolina. The company’s bioinsecticides are expected to enter the market by 2027, which is significantly faster than the typical timeline for synthetic insecticides.
Joy Faucher, Partner at Forbion BioEconomy, highlighted the importance of SOLASTA Bio’s technology in addressing challenges such as insect resistance and biodiversity loss. Mark Brooks, Managing Director at FMC Ventures, and Tom Greene, Senior Director at Corteva Catalyst, both underscored the potential of SOLASTA Bio’s approach to revolutionize crop protection through sustainable and effective solutions.
Solasta Bio Latest News
Completes Successful Trials (2024/02/15)
SOLASTA Bio successfully completed field trials for its innovative bioinsecticides based on micro-peptide Insect Control Agents (ICAs), derived from insect neuropeptides. These ICAs have demonstrated effectiveness in controlling pests such as aphids, caterpillars, and Spotted Wing Drosophila across a range of crops, including sugar beet, cotton, and lettuce, in Europe, the UK, and the US. The trials confirmed the environmental safety of these bioinsecticides, particularly their minimal impact on pollinators, addressing global concerns about insect population declines. Founded in 2020, SOLASTA Bio’s cutting-edge technology offers a sustainable alternative to traditional synthetic pesticides, advancing eco-friendly agricultural practices.
Nabs £4M For Green Insecticides (2023/04/12)
Solasta Bio, an agritech company based in Glasgow, has received £4M in pre-Series A investment to develop neuropeptide-based insect control solutions that are nature-inspired and eco-friendly. The funding will be used to expand its operations in the US and the UK, grow its technical and commercial teams, and go after new markets. The company intends to become a leader in green insecticides.
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