Avail advised the lead investor Agronomics Ltd on its €6.9 million investment in Onego Bio Ltd

Avail advised the lead investor Agronomics Ltd on its €6.9 million investment in Onego Bio Ltd, a company developing sustainable and animal free egg protein, as part of a €10 million seed funding round. As a part of the transaction, we were involved in the licensing of the intellectual property forming the core of the business.

Onego Bio is a spin-out from VTT Technical Research Centre of Finland Ltd, one of Europe's leading research institutions. The company harnesses precision fermentation to develop egg proteins without the need for traditional agriculture, with the aim of providing people with sustainable, delicious and animal free egg protein. It was founded in Helsinki in 2021 by CEO Maija Itkonen, CTO Chris Landowski, and COO Jussi Joensuu, after many years of developing and researching their precision fermentation technology whilst at VTT. Demand for alternative egg white protein continues to grow, due to the environmental and welfare concerns associated with animal husbandry, and continued global pressure on suppliers to go cage-free.

https://polaris.brighterir.com/public/agronomics/news/rns/story/wkn70dw

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