Solasta Bio Funding News – Solasta Bio Secures $14 Million Series A Funding

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This oversubscribed financing will accelerate development and commercialisation of SOLASTA’s unique peptide-based, nature-inspired bioinsecticides – the first of its kind to be developed worldwide.

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This Series A funding follows a successful 2023 trial season where SOLASTA Bio’s unique insect control agents demonstrated efficacy on par, or better than, commercial standards across over 20 field trials on multiple crops in Europe, the UK and US.

The financing was led by Forbion via its BioEconomy fund strategy, with co-lead investment from agricultural strategics FMC Ventures (FMC Corporation) and Corteva Catalyst (Corteva, Inc.). Participation from existing investors included Cavallo Ventures (Wilbur-Ellis), Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures and University of Glasgow, bringing the total raised to date to $19 million. Forbion Partner Joy Faucher, who leads the BioEconomy strategy, will join the company’s board of directors.

Founded in 2021 by academic co-founders Shireen Davies, CEO and Prof. Julian Dow, CSO, Glasgow-based SOLASTA Bio has developed the world's first technology platform for creating insect control agents that are nature-inspired rather than selected from a synthetic chemistry library. As well as meeting the efficacy standards of current chemicals on the market, these environmentally friendly agents address a growing global need for effective crop protection by selectively targeting insect pests while protecting beneficial pollinators such as bees. SOLASTA Bio’s platform can be mobilised for any pest of interest, across both crop and non-crop applications such as stored grain.

Joy Faucher, Partner at Forbion for its BioEconomy Fund noted, “As traditional insect control agents struggle with resistance and impact to biodiversity, SOLASTA’s demonstrated cost-effective, sustainable and high-efficacy solution is poised to transform the crop protection market. We are excited to support SOLASTA in continuing the development and commercialisation of its first-in-class peptide products.”

“We have come a long way since setting out on this journey 3 years ago. We have developed our unique technology platform to address grower pain points, have expanded operations to the US and have brough together outstanding competencies in technology and agribusiness. The results of our field trials have been hugely encouraging, demonstrating high efficacy of biopeptides against target insect pests, as effective or better than standard insecticides” said Shireen Davies PhD, FRSE, CEO and co-founder, SOLASTA Bio. “With the Series A, it’s time for SOLASTA Bio to kick on to the next level and successfully hit our targets for commercialisation.”

With the financing secured, SOLASTA Bio will continue to advance its technology platform and pipeline of insect control agents, targeting a $27bn annual market opportunity¹. In parallel, the business will continue to build out its US operations, having already established a base in North Carolina, expand its real-world field trials across key geographies, scale-up its biomanufacturing capabilities and further develop strategic opportunities including applications beyond crop use.

The company is targeting market entry as early as 2027 – at least half the time traditionally taken by synthetic pest control products - demonstrating a significant advantage of the platform technology.

With the urgent need to protect pollinators and wildlife, while boosting agricultural productivity, SOLASTA Bio aims to play a leading role in the transition toward sustainable crop protection. The global insecticides market is currently dominated by synthetic chemicals accounting for 94% of insect control solutions¹. While 75% of food crops are dependent on pollinator insects, other insects cause enormous social, health and economic damage accounting for at least $70 billion in US crop losses alone. However, the insecticides market is under increasing pressure from widespread insect resistance, lack of species specificity, increasing regulatory controls and consumer preferences for non-chemical residues.

About SOLASTA Bio

SOLASTA Bio is a leading green agri-biotechnology company based in Glasgow, Scotland. Blending deep scientific expertise with extensive research and agri sector experience, SOLASTA BIO designs and develops next-generation biotechnology solutions that give growers and agri-businesses access to precision-targeted pest control capabilities – to help target and solve global pest-related challenges across a broad range of applications. Its innovative pest control solutions are effective, cost-efficient and environmentally friendly – with biosafety built in. A smarter, safer, simpler alternative to insecticides, they use precision-targeting to only clear selected insects from crops, while being non-toxic to all other species and land.