SOLASTA Bio completes US$14mn Series A funding round

In an attempt to accelerate the development of its unique peptide-based, nature-inspired bioinsecticides, leading agri-biotech company, SOLASTA BIO has completed an oversubscribed US$14mn Series A funding round, attracting major investors including Forbion, FMC Ventures and Corteva Catalyst

The investment round was led by Forbion through its BioEconomy fund strategy with co-lead investment from agricultural strategics FMC Ventures (FMC Corporation) and Corteva Catalyst (Corteva, Inc). 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. 

Besides 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. 

With the investment round secured, SOLASTA Bio will continue to advance its technology platform and pipeline of insect control agents, targeting a US$27bn annual market opportunity. 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.

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 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.

“SOLASTA Bio has come a long way since we set out on this journey three years ago. Having established operations in the UK and US, we’ve now got an international team with outstanding competencies in technology and agribusiness and, importantly, we have developed our unique technology platform to address grower pain points," said FRSE, CEO and co-founder of SOLASTA Bio, Shireen Davies PhD. "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. With Series A now secured, it’s time for SOLASTA Bio to kick on to the next level and successfully hit our targets for commercialisation.”