Onego Bio Ltd has raised €10 million in seed funding to commercialize its revolutionary chicken-free egg white production technology. The cellular agriculture startup is the latest spin-off from the VTT Technical Research Center of Finland and offers a vegan alternative to one of the most widely used animal proteins in the world.

“They have the potential to produce bioalbumen on an industrial scale and at a price competitive with conventional egg production” – Jim Mellon, Agronomy

Finnish biotech Onego Bio has developed bioalbumen – an animal-free egg protein, using commercially proven Trichoderma technology. Vegan egg white is produced with a specific precision fermentation process that creates identical egg white protein without the need for animals.

Onego Bio Ltd
© Onego Bio Ltd

The startup announces the successful closing of the €10 million funding round with the participation of venture capital funds, including billionaire investor Jim Mellon’s Agronomics. The UK-based VC recently raised £25m for its expanding cellular agriculture and cultured meat portfolio.

VTT Technical Research Center of Finland

Onego Bio’s bioalbumin technology has been developed and researched at MTB, one of Europe’s leading research institutes and owned by the Finnish state. The project is part of VTT LaunchPad, the spin-off science incubator, while other sustainable food solutions running through the center include cell-grown coffee and a partnership with Finnish dairy company Valio.

Maija Itkonen Onego Bio Ltd
Maija Itkonen ©Onego Bio Ltd

“We would like to thank VTT and our investors for supporting a technology that is part of a larger wave of changing people’s perspective on alternative ways of producing food. Now is the time to develop this technology and start manufacturing our product, as consumers are more open to trying non-animal products,” said Maija Itkonen, CEO of Onego Bio Ltd.

“Through their technology, they have the potential to produce bioalbumen on an industrial scale and at a competitive price to conventional egg production, which has major implications for the environment and animal welfare. . Egg white production has a huge total addressable market and there is a need to use precision fermentation tools to meet demand in a sustainable way,” added Jim Mellon, Executive Director of Agronomy.