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Onego Bio: Revolutionizing The Traditional Egg Market with Its Innovative Animal-free Egg Protein Solution

Image Credits: Onego Bio
By: Headliners News / April 12, 2024

Meet Onego Bio, a pioneering food-biotech startup venture headquartered in Finland, is poised to revolutionize the traditional egg market with its innovative animal-free egg protein solution, Bioalbumen. Leveraging precision fermentation and the fungal prowess of Trichoderma reesei, Onego Bio has emerged as a frontrunner in the quest for sustainable protein alternatives.

Amidst the backdrop of escalating egg prices in 2023, which served as a catalyst for alternative protein exploration, Onego Bio’s emergence marked a significant stride towards challenging the dominance of conventional egg production methods. Led by co-founders Maija Itkonen and precision fermentation expert Christopher Landowski, Onego Bio embarked on a mission to redefine the landscape of egg protein production.

Central to Onego Bio’s groundbreaking approach is its patented fungal fermentation technology, capable of yielding 120 grams per liter in expansive 250,000-liter fermentation vessels. With production efficiencies nearing parity with traditional methods, Onego Bio stands on the cusp of achieving competitive price points in the market.

Bioalbumen, the flagship product of Onego Bio, represents a paradigm shift in protein engineering. Boasting bioidentical properties to ovalbumin, the primary protein found in chicken egg whites, Bioalbumen offers a nutritional profile rich in essential amino acids, with a remarkable protein content of 90 grams per 100 grams of egg white. Moreover, Onego Bio prides itself on delivering this innovation with a significantly reduced environmental footprint, heralding a sustainable alternative to conventional egg production.

With a focus on versatility and taste neutrality, Bioalbumen is poised to disrupt various culinary domains, ranging from baked goods to sauces, offering a seamless replacement for traditional eggs. Onego Bio’s strategic vision extends beyond product development, aiming to collaborate with food companies to integrate Bioalbumen into a myriad of consumer products.

Anticipating a North American debut, Onego Bio is diligently navigating regulatory pathways, with expectations to secure self-affirmed GRAS status for Bioalbumen in the current year, followed by FDA approval in 2025. The company’s expansion roadmap encompasses strategic forays into Europe, South America, and Asia, envisioning a global footprint for its transformative protein solution.

Bolstered by a recent infusion of $40 million in Series A funding, Onego Bio is poised to accelerate its market penetration and bolster manufacturing capabilities. With a keen focus on operational scalability, the company aims to establish a full-scale manufacturing unit boasting a formidable 2 million liter fermentation capacity, effectively challenging the conventional egg farming paradigm.

The investment landscape reflects a vote of confidence in Onego Bio’s disruptive potential, with Japanese-Nordic venture capital firm NordicNinja leading the Series A round, supported by equity investors Tesi and EIT Food, among others. Notably, Onego Bio’s collaboration with Business Finland underscores its commitment to innovation-driven systemic change, positioning the company at the forefront of the global sustainability agenda.

Tomosaku Sohara, managing partner of NordicNinja, underscores the strategic significance of Onego Bio’s trajectory, heralding the company’s rapid strides towards commercialization and its potential to catalyze a green transition in the burgeoning protein market. As Onego Bio propels towards its mission of disrupting the $330 billion egg market, it emerges as a real beacon of innovation, poised to redefine the future of protein production and consumption on a global scale.

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