Solasta Bio, a Glasgow University spinout specializing in the next generation of green insecticides, raised £1.3m in seed funding.
Backers included The Yield Lab Europe, SIS Ventures, members of Cambridge Agritech and UKI2S. Founding investors UKI2S and Scottish Enterprise provided pre-seed funding.
The company intends to use the funds for ongoing development of its nature-inspired pesticides.
Established in May 2020 after four years of research funded by UKRI BBSRC and the EC, and commercialisation support from Scottish Enterprise’s High Growth Spinout Programme, Solasta Bio develops biopesticides. The company has also developed a technology platform for creating neuropeptide-based insect control products that are nature-inspired rather than selected from a synthetic chemistry library.
These products effectively target insect pests while preserving beneficial pollinators such as bees in an environmentally friendly and sustainable manner.
With this latest funding secured, Solasta Bio is aiming to take the trials of its biopesticides out of the laboratory and into real-world settings. The company aims to bring its first biopesticides to market in 2027, around half the time traditionally taken by synthetic pest control products.
The company was co-founded by scientist and entrepreneur Professor Shireen Davies, CEO, world leader in insect biology and functional genomics Professor Julian Dow, CSO, former BASF senior executive Paul Bernasconi, CTO; and Professor Robert Liskamp, peptide technology. The three management team co-founders are joined by the Chair, Rob Wylie and CFO David Armour, with a team of R&D staff based in Glasgow.
FinSMEs
19/08/2021