Key Takeaways
- Significant Funding: ViAqua Therapeutics has secured $8.25 million to develop its RNA-based oral delivery platform to improve aquaculture disease resistance.
- Targeting Major Disease: The company’s first product aims to tackle the White Spot Virus, which has a significant economic impact on the shrimp industry.
- Operational Efficiency: The oral delivery technology is expected to reduce operational costs and improve disease management outcomes.
- Market Entry: ViAqua has partnered with Skretting and plans to begin production in India in 2024.
- Benefiting Smallholder Farmers: The technology has the potential to significantly impact smallholder farmers, who are most affected by disease-related challenges in aquaculture.
ViAqua Therapeutics, a biotechnology firm specializing in aquaculture health, has announced the completion of an $8.25 million funding round. S2G Ventures led the round and saw participation from several other investors, including Rabo Ventures, The Trendlines Group Ltd., Agriline Limited, Nutreco, I-Lab Angels, and Circle Investments LLC.
Addressing a Multi-Billion Dollar Problem
Aquaculture plays a vital role in food security and the protection of wild fish stocks. However, disease management remains a significant challenge, causing an economic impact of over $8.5 billion in the shrimp industry alone, according to Kontali analysis. ViAqua aims to tackle this issue by developing an RNA-based oral delivery platform to improve aquaculture disease resistance.
The ‘Holy Grail’ of Aquaculture Health
Shai Ufaz, CEO of ViAqua, described oral delivery as the “holy grail of aquaculture health development.” The technology aims to reduce operational costs and improve disease management outcomes. ViAqua’s first product targets the White Spot Virus (WSSV), which causes an annual loss of around $3 billion and a 15% reduction in global shrimp production.
Partnership and Market Entry
ViAqua has entered into a joint development and marketing agreement with Skretting, a Nutreco company, to bring its product to market. The company plans to begin production in India in early 2024 and is exploring other applications of its technology in aquaculture.
Impact on Smallholder Farmers
Shishir Sinha, investment director at Rabo Ventures, emphasized the technology’s potential to make a meaningful difference in the lives of smallholder farmers, who make up 80% of the supply. Diseases cause up to 50% mortality rates, failing 25-30% of shrimp farms annually.
Photo by Lucut Razvan on Unsplash
