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Precision fermentation · Boulder, Colorado, USA

Bond Pet Foods

Precision-fermented animal protein for pet food · bondpets.com ↗

Makes animal proteins for pet food by precision fermentation, co-developed with Hill's Pet Nutrition.

Stage

Pre-launch / scale-up (step 4 of 6)

Received an FDA CVM Letter of No Objection for Lamb Protein Yeast (May 2026), the first precision-fermented animal protein cleared for pet food. The clearance covers healthy adult dogs at up to 15% of the food. More than 25 tonnes have gone to Hill's for formulation and testing ahead of a US launch.[1] [2] [3] [4]

Revenue

Not disclosed

Supplies Hill's for product development. No pet food containing the protein is on sale yet, and no revenue is disclosed.[3]

Next Hill's product launch in the US; clearance for use in cat food.

Agronomics' holding

Fair value
£0 (written down) 30 Jun 2025
Portfolio weight
<1% / n/a
Stake
Not disclosed
Invested
£0.12m At £0 since Jun 2025[5]
Per year
−100.0% all holdings

Written down to nil in FY2025 (−£0.71m), before the FDA clearance.

Sources[5]

Investments
What Agronomics put in, at the sterling cost it carries
DateCostRound
5 Sep 2019£0.12mUS$150k convertible note, Seed[7] [8]

Approvals & markets

  • Approved

    USA (FDA CVM) · 12 May 2026[1] [2]

    Lamb Protein Yeast in food for healthy adult dogs (up to 15%)

  • Pending

    USA (FDA CVM)[1]

    Use in cat food (feeding study complete; more data to be filed)

HQ
United States
Selling in
—
Cleared in
United States[1]

Timeline

  1. Regulatory

    FDA Letter of No Objection for Lamb Protein Yeast[1] [2] [3] [4]

    Developed with Hill's Pet Nutrition. Followed a six-month dog feeding study and a GRAS notice.

  2. Valuation

    Holding written down to nil[5]

    £0.71m fair-value loss in Agronomics' FY2025 accounts.

Sources

  1. Hill's Pet Nutrition and Bond Pet Foods receive FDA No Objection Letter for Lamb Protein Yeast Hill's Pet Nutrition · 12 May 2026
  2. Precision-fermented protein for dog food receives no objection from FDA Pet Food Processing · May 2026
  3. Bond Pet Foods Gets US FDA Nod for Yeast-Brewed Lamb Protein Created with Hill's Pet Nutrition Green Queen · May 2026
  4. Bond Pet Foods receives FDA no-objection letter for Lamb Protein Yeast Agronomics Limited (RNS) · 4 Jun 2026
  5. Annual Report 2025: year to 30 June 2025 Agronomics Limited · 30 Dec 2025
  6. Bond Pet Foods, Inc. company listing Petfood Industry
  7. Seed Investment in Bond Pets LLC Agronomics Limited (RNS) · 5 Sep 2019
  8. Annual Report 2022: year to 30 June 2022 Agronomics Limited · 20 Dec 2022