Agronomics - AGNMF STOCK NEWS

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.

Agronomics announced an unaudited Net Asset Valuation per share of 16.98 pence, a 0.5% increase from the previous quarter. The company's Net Assets were £171 million, with a 48% discount to the share price. Agronomics made progress in funding rounds and partnerships, marking positive revaluations and acquisitions within their portfolio.

Agronomics , a leading company in cellular agriculture, announces that its portfolio company Meatly has developed a protein-free culture medium for cultivated meat at a groundbreaking price of one pound per liter. This innovation significantly reduces production costs and paves the way for price parity with conventional meat products. With a focus on the pet food market, Meatly's achievement marks a critical milestone in the cultivated meat industry, driving scalability and affordability. Agronomics and investors like Pets at Home are supporting Meatly's upcoming product release, highlighting the company's positive trajectory in the alternative proteins sector.

Agronomics announces that Solar Foods has raised an additional EUR8 million in funding, bringing the total to EUR16 million. Solar Foods' first commercial-scale factory is operational, producing 160 tons of Solein annually. The company has regulatory approval in Singapore and is in partnership with Oy Karl Fazer AB. Agronomics has invested EUR6 million in Solar Foods.

Agronomics announces that its portfolio company Mosa Meat has raised EUR 40 million in new financing led by Lowercarbon Capital and M Ventures. The round was oversubscribed and included government-backed partners and investors from the conventional meat sector. Mosa Meat is a global food technology company focused on producing real beef in an ethically sustainable way. Agronomics continues to hold an equity ownership of ~1.68% in Mosa Meat.

Agronomics announces the issuance of 42 Ordinary Shares at a subscription price of 30.0p per Share, resulting in gross proceeds of £12.60. The Shares will be admitted to trading on AIM, increasing the total ordinary shares to 1,009,409,792.

Agronomics announces the second presentation in its Capital Markets Investor Presentation Series featuring Onego Bio The series showcases industry-leading companies in cellular agriculture, offering insights into market demand, technical milestones, and growth strategy.

Agronomics invests $10 million in Liberation Labs Holding Inc. as part of a $12.5 million financing round, aiming to support the construction of a facility in Richmond, Indiana. Liberation Labs seeks to become a global fabrication partner in the industrial biotechnology industry with their purpose-built biomanufacturing platform, Bio3. Agronomics has invested a total of $17.6 million in Liberation Labs, representing approximately 14.8% of Agronomics' Net Asset Value. The investment is made through a Secured Convertible Promissory Note and other equity-linked instruments, with additional non-dilutive funding commitments totaling $55 million. Liberation Labs is on track to complete its facility by Q1 2025.