ViAqua Therapeutics Announces $4.3 Million Investment led by S2G Ventures for its RNA-based Aquaculture Health Platform

Rhea-AI Summary

ViAqua Therapeutics announced a successful funding round of $4.3 million aimed at expanding its RNA-particle platform for improving animal health in aquaculture. New investors include S2G Ventures, Thai Union, and Agriline, alongside previous investors like Nutreco and The Trendlines Group. The company aims to address significant challenges in shrimp health caused by viral diseases, which have resulted in 30-40% annual losses in global production. ViAqua's proprietary delivery method and production platform aim to overcome historical obstacles in RNA-based technologies.

Positive

• Secured $4.3 million in funding to advance commercialization and product pipeline.
• Participation of reputable investors like S2G Ventures and Thai Union enhances credibility and market potential.
• Investment aimed at addressing significant shrimp health challenges, promising a solution to viral outbreaks.

Negative

• None.

MISGAV, Israel, June 9, 2021 /PRNewswire/ -- ViAqua Therapeutics, a biotechnology company and developer of an orally administered RNA-particle platform to promote and improve animal health in aquaculture, announced it has completed a $4.3 million round to commercialize and expand its platform. Multinational new investors include: S2G Ventures (S2G Oceans & Seafood Fund), Thai Union, and Agriline. Earlier investors Nutreco, Visvires New Protein, The Trendlines Group (SGX:42:T; OTCQX: TRNLY) and the Technion Israel Institute of Technology also participated in this round. ViAqua was also awarded additional grant funding from the Israeli Innovation Authority.

Using RNA and an encapsulated delivery method, ViAqua will promote shrimp health in the face of viral challenges, including prevalent and devastating diseases which are widespread in shrimp. The mortality rates associated with a viral outbreak can reach 100% within several days of onset, leading to massive financial losses for shrimp producers. Viral diseases have plagued the shrimp industry for decades with little to no effective treatment options. The estimated cost associated with diseases have resulted in an estimated 30-40% loss in global shrimp production annually.

"We are incredibly excited to support ViAqua in their mission to improve animal health and address aquatic diseases while minimizing environmental impact," said Larsen Mettler, Managing Director at S2G Ventures Oceans and Seafood. "We are thrilled to partner with this talented team and international group of co-investors that reflect the massive market opportunity."

Historically, the challenge with RNA-based technologies includes the costs of production and efficient delivery in an aquatic environment. ViAqua's platform technology addresses these challenges through its proprietary production platform and novel encapsulation delivery method.

"We are delighted to attract the support of new investors at S2G Ventures and Thai Union, in addition to the ongoing commitment from The Trendlines Group, Nutreco, VisVires New Protein and the Technion" says Shai Ufaz, CEO at ViAqua. "We look forward to scaling up production for commercialization and are excited on expanding our product pipeline to address some of the world's most pertinent diseases in aquaculture."

Thiraphong Chansiri, President and CEO of Thai Union said, "Disease prevention is a primary concern in the aquaculture sector and ViAqua has a promising technology platform to help manage health of shrimp and other species. Thai Union is looking forward to supporting ViAqua as they help the global aquaculture industry address this challenge."

About ViAqua Therapeutics

ViAqua was established to address the growing need for effective, specific, and affordable health management of diseases in aquaculture. One of the major challenges facing the shift to sustainable aquaculture practice is the prevention and treatment of disease. ViAqua is developing a biotechnology-based, oral delivery platform for administration of nucleic acid-based solutions for promoting health in marine species. 

Contact information:
Shai Ufaz, Co-founder and CEO, ViAqua Therapeutics
Office@viaqua-t.com
+972.528430591

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SOURCE ViAqua Therapeutics

FAQ

What recent funding did ViAqua Therapeutics secure for its aquaculture platform?

ViAqua Therapeutics secured $4.3 million in funding to commercialize its RNA-based platform.

Which new investors are involved in ViAqua Therapeutics' recent funding round?

New investors include S2G Ventures, Thai Union, and Agriline.

What impact do viral diseases have on shrimp production, according to ViAqua?

Viral diseases can cause 30-40% annual losses in global shrimp production.

How does ViAqua's technology aim to enhance shrimp health?

ViAqua's technology promotes shrimp health using an RNA-particle platform to combat viral diseases.