Precision fermentation · Helsinki, Finland & USA

Onego Bio

Animal-free egg-white protein (Bioalbumen®) · onego.bio ↗

Uses precision fermentation to make Bioalbumen®, an egg-white protein identical to the one from hens, for food manufacturers.

Stage

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

The FDA issued a GRAS 'no questions' letter in Sept 2025. It currently produces through contract manufacturers. Its flagship plant in Jefferson County, Wisconsin (2 million litres) is expected to start operating in 2028.^{[1] [2] [3]}

Revenue

Pre-revenue

Agronomics' Q1 and Q2 2026 investor reports list it as not yet revenue-generating. It produces through contract manufacturers ahead of its own plant.^{[4] [5] [2]}

Next Commercial supply through co-manufacturers; Wisconsin plant in 2028.

Agronomics' holding

Fair value: £11.14m 30 Jun 2026
Portfolio weight: 8% 30 Jun 2026
Stake: 16.9% 30 Jun 2026
Invested: £7.11m since Feb 2022
Multiple: 1.57× +£4.04m
Per year: +11.9% all holdings
Last round: Series A 17 Jul 2024 · 2.2 years ago

Sources^[4]

Investments

What Agronomics put in, at the sterling cost it carries
Date	Cost	Round
22 Feb 2022	£5.78m	€6.9m Seed (led)^{[6] [7]}
2 Apr 2024	£1.33m	€1.55m in the €37m round^{[8] [9]}

Approvals & markets

Approved

USA (FDA) · 23 Sep 2025^{[3] [1]}

GRAS 'no questions' letter for Bioalbumen® across a wide range of foods and beverages

HQ: Finland
Selling in: —
Cleared in: United States^[3]

Timeline

Oct 2026Corporate

US court dismisses its patent suit against EVERY^[10]

Onego Bio sought to invalidate EVERY's US ovalbumin patent. The Delaware court found EVERY had not threatened to sue, so it ruled on neither validity nor infringement.
23 Sep 2025Regulatory

FDA 'no questions' letter on GRAS status^{[3] [1]}

Covers Bioalbumen® across a wide range of food and beverage uses.
12 Mar 2025Facility

Site chosen for flagship US plant^[2]

Jefferson County, Wisconsin.
18 Jul 2024Funding

€14m EIC Accelerator funding^[11]

With a new Series A investor, this took total funding to €65m.

Sources

FDA affirms safety of Onego Bio's precision-fermented egg protein Prepared Foods · Sep 2025
Onego Bio Chooses Jefferson County, Wisconsin for Flagship Egg Protein Manufacturing Facility Business Wire · 12 Mar 2025
Onego Bio receives FDA 'no questions' letter on GRAS status of Bioalbumen Agronomics Limited (RNS) · 23 Sep 2025
Q2 2026 Investor Report (portfolio at 30 June 2026) Agronomics Limited · 21 Aug 2026
Q1 2026 Investor Report Agronomics Limited · 20 May 2026
Agronomics Leads Onego Bio's Seed Funding Round Agronomics Limited (RNS) · 22 Feb 2022
Annual Report 2022: year to 30 June 2022 Agronomics Limited · 20 Dec 2022
Onego Bio Raises EUR37 Million Agronomics Limited (RNS) · 2 Apr 2024
Annual Report 2024: year to 30 June 2024 Agronomics Limited · 24 Dec 2024
Onego Bio's Patent Challenge Against EVERY Dismissed in Delaware vegconomist · 13 Oct 2026
Onego Bio secures €14m in new funding Agronomics Limited (RNS) · 18 Jul 2024