Agronomics Stock Price, News & Analysis

Agronomics (AIM:ANIC) reports its unaudited Net Asset Value (NAV) as of December 31, 2024, at 14.93 pence per share, marking a 5.21% decrease from 15.73 pence in September 2024. Net Assets stand at £151 million, comprising £141 million in investments and £10 million in cash.

The company experienced a £8.1 million NAV decline during the quarter, primarily due to: a £4.3 million reduction in Solar Foods Oy value, a £4.3 million unrealized FX gain, a significant £6.8 million write-down of Geltor Inc following a 95% discounted funding round, and a £0.9 million reversal of unrealized gain on CellX

Notable developments include Liberation Labs securing US$50.5 million in total funding and All G receiving regulatory clearance for recombinant bovine lactoferrin sales in China. The company's share price of 3.88 pence represents a 74% discount to NAV, with no intention to raise capital while trading at a discount.

Liberation Labs has successfully closed a US$ 50.5 million convertible note round, combining US$ 31.5 million in new capital with US$ 19 million of insider bridge notes from 2024. The funding, supported by NEOM Investment Fund, Siddhi Capital, and Meach Cove Capital, will facilitate the completion of their first biomanufacturing plant in Richmond, Indiana.

Agronomics has committed US$ 7.4 million to the round and maintains a 37.7% undiluted equity stake. The Richmond facility, which broke ground in June 2023, will feature 600,000 litres of fermentation capacity and is expected to be completed by year-end. The facility has secured non-binding Letters of Intent representing over 200% of its available capacity for the first 5 years of operations.

The total capital raised, including public sector awards and loan guarantees, amounts to US$ 125.5 million. Liberation Labs anticipates breaking even in its first year of operation, addressing the critical bottleneck in fermentation capacity for the industrial biotechnology sector.

Agronomics reports an unaudited Net Asset Value (NAV) of 15.73 pence per share as of September 30, 2024, marking a 4.2% decrease from June 2024. Net Assets stand at £158 million, including £147 million in investments and £12 million in cash. The company experienced a £6.9 million decline in NAV during the quarter, primarily due to a £5.1 million unrealized foreign exchange loss and a £0.9 million reduction in Solar Foods holdings. Despite market challenges, portfolio companies raised approximately US$300 million in funding rounds, with four companies securing significant investments during the period. Notable achievements include regulatory clearance for Meatly's cultivated pet food in the UK and Solar Foods' listing on Nasdaq First North Growth Market Finland.

All G, an Agronomics portfolio company, has become the first company globally to receive regulatory clearance for selling recombinant bovine lactoferrin in China. The company uses precision fermentation to develop animal-free proteins for functional foods and nutrition. This approval allows All G to generate initial revenue streams before its Series B funding round, with product launch planned for 2025. All G aims to produce lactoferrin at or below price parity compared to conventional methods. The company has raised AU$ 45 million to date, with Agronomics investing AU$ 15 million, currently valued at £7.9 million as of June 2024.

Agronomics (LSE:ANIC) has invested US$ 2 million in Liberation Labs Holdings Inc.'s US$ 3.5 million fundraise via a Secured Promissory Note. The note pays 10% interest annually and matures on October 10, 2027. It will convert into the same instrument and terms as Liberation Labs' intended Series A round, which aims to raise a minimum of US$ 37.5 million.

Agronomics has now invested a total of US$ 19.6 million in Liberation Labs, holding a 37.5% stake on a fully diluted basis. The investment is currently valued at £25.7 million, representing about 15.9% of Agronomics' last stated Net Asset Value. Liberation Labs, an early-stage company, has no revenues, monthly operating costs of US$ 0.4 million, and total assets of US$ 49.5 million as of June 30, 2024.

Agronomics (LSE:ANIC) has invested US$2 million in Liberation Labs Holdings Inc.'s US$3.5 million fundraise via a Secured Promissory Note. The note pays 10% interest annually and matures on October 10, 2027. Additionally, Liberation Labs received a US$1.39 million award from the US Department of Defense for a feasibility study on adding a 4 million litre biomanufacturing facility.

Liberation Labs has signed letters of intent with potential customers representing over 200% of available capacity for its Launch Facility's first years of operations. Agronomics has now invested a total of US$19.6 million in Liberation Labs, holding 37.5% on a fully diluted basis. The company's position in Liberation Labs represents approximately 15.9% of Agronomics' last stated Net Asset Value.

Agronomics announces that its portfolio company, Meatable B.V., has secured €7.6 million in funding under the Innovation Credit programme from the Netherlands Enterprise Agency. This credit will be used to improve productivity and reduce costs as Meatable prepares for commercialization. Meatable, a frontrunner in cultured meat, has raised approximately €97 million to date, including a €30 million Series B funding round in August 2023.

Meatable recently achieved significant milestones, including hosting Europe's first public tasting of its cultivated meat products and reducing production times for its pork sausage by 50%, from 8 days to 4. Agronomics' Co-Founder and Executive Chair, Jim Mellon, highlighted Meatable's innovative approach as a promising solution to meet rising global meat demand while mitigating environmental impacts.

Agronomics (LSE:ANIC) announces that its portfolio company, Onego Bio, has secured EUR 14 million in new funding from the European Innovation Council Accelerator Program and an additional Series A investor. This brings Onego's total funding to EUR 65 million. Agronomics' investment in Onego remains at EUR 8.4 million, currently valued at GBP 11.1 million (EUR 12.9 million), accounting for 6.7% of Agronomics' last published Net Asset Value. Agronomics holds a 16.1% equity ownership on a fully diluted basis.

Onego Bio, a precision fermentation company, is developing Bioalbumen®, a bio-identical egg protein. The company aims to commercialize in North America first, with plans to submit a GRAS notice to the FDA this year. The new funding will support Onego's go-to-market plans in both the US and EU, including regulatory approval processes.

Agronomics, a London-listed cellular agriculture company, announced the exercise of warrants, resulting in the issuance of 1,791 Ordinary Shares at 28.5p each, generating gross proceeds of £510.43. These shares will be admitted to trading on AIM around June 11, 2024, and will be pari passu with existing shares. Following this admission, Agronomics' total share count will be 1,009,411,583. Shareholders can use this updated share count for transparency rule calculations. Agronomics has a portfolio of over 20 companies focused on innovative food and material production technologies, addressing sustainability, human health, animal welfare, and environmental issues.