Solasta Bio raises $14m to advance development and commercialisation of sustainable crop protection solutions

SOLASTA Bio, a Glasgow-based agri-biotech company specialising in the next generation of green insecticides, has raised $14 million Series A financing led by Forbion, a global life sciences venture capital firm with deep expertise in Europe.

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.

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.

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.

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.

Joy Faucher, Partner, Forbion: ''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.''

Shireen Davies, CEO and Co-founder, SOLASTA Bio: ''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. 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 $27 billion 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.

www.solastabio.com
www.forbion.com

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