SOLASTA Bio raises $14m, plans to commercialize peptide-based biopesticides in ‘half the time’ it takes for synthetics

• UK-based ag biotech startup SOLASTA Bio has closed a $14 million oversubscribed Series A round, bringing its total funding to $19 million.
• Forbion (via its Bioeconomy fund), FMC Ventures, and Corteva (through its recently launched Corteva Catalyst platform) co-led the round.
• Existing investors Cavallo Ventures (the VC arm of Wilbur-Ellis), Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and University of Glasgow, also participated.
• SOLASTA Bio plans to bring its peptide-based bioinsecticide products to market by 2027.

Resistance to traditional insecticides and pesticides is on the rise, lowering the efficacy of such products and potentially putting crop yields in danger. At the same time, the environmental and human health consequences of pesticide overuse are increasingly in the spotlight (not to mention the courtroom).

SOLASTA Bio’s bioinsecticide products are based on naturally occurring peptides, an approach that a handful of companies now use to develop crop protection products.

Biological solutions based on larger proteins like enzymes have proven tricky for crops because of their limited stability in the field and difficulty in transporting.

Peptides, which are smaller proteins, don’t require the costly cold supply chain to be transported, can be highly stable, and target the same receptors in the insect as synthetics. Because of these factors, peptides are seen as a way of achieving the efficacy of synthetics without the unwanted impacts to planetary health.

A targeted approach

SOLASTA Bio claims a “unique mode of action” that acts on specific targets in insect tissues to alter behavior and lifecycle. For example, it could cause an insect to forget to lay its eggs. The company says this targeted approach makes its products non-toxic to humans and non-target species such as pollinators, which are critical to plant health. Products can be used on any pest and in both crop and non-crop settings such as grain-storage facilities.

Investors have also highlighted the company’s technology platform and data as key differentiators.

“The team’s deep expertise in insect neuropeptide modalities, their differentiated tech platform and proven real-world data provide a unique position to launch a series of first-in-class products that can redefine the agriculture industry,” Forbion Bioeconomy partner Joy Faucher commented.

Mark Brooks, managing director at FMC Ventures, added: “SOLASTA Bio’s data and synthesis capabilities are game changing in shortening the discovery and development process, a necessity for the future of biocontrol.  The team, technology, IP portfolio, investor syndicate, and potential positive impact in crop protection are compelling.”

Founded in 2021, SOLASTA says its biopeptide products perform “as effective or better than standard insecticides” according to 2023 field trials.

The Series A funding will go towards further building out its platform and pipeline of insect control bioproducts, and bolstering SOLASTA Bio’s operations in the US, where it already has a base in North Carolina.

The company also plans to conduct more field trials ahead of a targeted market entry in 2027, which SOLASTA says is about “half the time traditionally taken by synthetic pest control products.”