UK-based ag biotech startup SOLASTA Bio has successfully closed a $14 million oversubscribed Series A funding round, bringing its total funding to an impressive $19 million. The round was co-led by Forbion via its Bioeconomy fund, FMC Ventures, and Corteva through its recently launched Corteva Catalyst platform. Existing investors, including Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow, also participated in the round.
SOLASTA Bio is set to revolutionize the agricultural sector with its peptide-based bioinsecticide products, which the company plans to bring to market by 2027. This innovation comes at a crucial time as resistance to traditional insecticides and pesticides is on the rise, threatening crop yields globally. Additionally, the environmental and human health consequences of pesticide overuse are increasingly becoming a focal point of concern and litigation.
The startup’s bioinsecticide products are based on naturally occurring peptides, a method that a few other companies are also exploring for crop protection. Unlike larger protein-based solutions such as enzymes, which suffer from limited stability in the field and require a costly cold supply chain for transportation, peptides offer a more stable and cost-effective alternative. Peptides, being smaller proteins, can be highly stable and target the same receptors in insects as synthetic chemicals do, without the negative impacts on planetary health.
SOLASTA Bio claims a “unique mode of action” for its products, which act on specific targets in insect tissues to alter their behavior and lifecycle. This targeted approach could, for instance, cause an insect to forget to lay its eggs. The company asserts that this makes its products non-toxic to humans and non-target species, such as pollinators, which are essential for plant health. Their products can be used on various pests in both crop and non-crop settings, including grain-storage facilities.
Investors have underscored the company’s technology platform and data as key differentiators. Joy Faucher, a partner at Forbion Bioeconomy, commented, “The team’s deep expertise in insect neuropeptide modalities, their differentiated tech platform and proven real-world data provide a unique position to launch a series of first-in-class products that can redefine the agriculture industry.” Mark Brooks, managing director at FMC Ventures, added, “SOLASTA Bio’s data and synthesis capabilities are game-changing in shortening the discovery and development process, a necessity for the future of biocontrol. The team, technology, IP portfolio, investor syndicate, and potential positive impact in crop protection are compelling.”
Founded in 2021, SOLASTA Bio has already demonstrated promising results. According to 2023 field trials, their biopeptide products perform “as effective or better than standard insecticides.” The Series A funding will be used to further develop their platform and pipeline of insect control bioproducts, and to strengthen SOLASTA Bio’s operations in the US, where the company has a base in North Carolina. The company also plans to conduct more field trials ahead of its targeted market entry in 2027, a timeline that SOLASTA claims is about “half the time traditionally taken by synthetic pest control products.”
This significant funding and accelerated timeline could position SOLASTA Bio as a major player in the agricultural biotech industry, offering a sustainable and effective alternative to traditional pesticides. As the world grapples with the dual challenges of increasing agricultural productivity and minimizing environmental impact, innovations like those from SOLASTA Bio could prove to be indispensable.