Onego Bio raises €4.5 million in additional financing







Onego Bio’s animal-free egg white ingredient, Bioalbumen™, produced by precision fermentation.

Onego Bio, a biotechnology company based in Helsinki, Finland, producing animal-free egg white with precision fermentation, has been awarded a grant of 4.5 million euros.

The new funding, granted by Business Finland, increases the resources of the project and accelerates its implementation.

The company intends to use the funds to further accelerate research and production development of Bioalbumen™.

Founded in 2022 by Maija Itkonen (CEO), Christopher Landowski (CTO) and Jussi Joensuu (COO), as a biotechnology spin-off from the VTT Technical Research Center of Finland, Onego Bio is a biotechnology company producing precision proteins egg without animals. fermentation. The company uses commercially proven Trichoderma technology to address environmental issues associated with eggs, one of the most widely used animal proteins in the world. This precision fermentation method produces ovalbumin, the most abundant egg white protein.

Raised Onego 10 M€ seed of Agronomics and Maki VC in February, and now Business Finland, a public body under the Finnish Ministry of Employment and Economy, awarded an additional €4.5 million grant for research and development of Onego Bio.

EndSME

09/09/2022






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