Agronomics
Assembly Line
Agronomics Limited Announces Onego Bio Secures EUR 14 million in New Funding
Agronomics (LSE:ANIC), a leading listed company in the field of cellular agriculture, is pleased to announce that its portfolio company, Onego Bio Ltd (“Onego”) has secured EUR 14 million in new funding from the European Innovation Council Accelerator Program and an additional Series A investor. In April, Onego announced it closed EUR 37 million in its series A round which, including this new capital, brings Onego’s total funding to date to EUR 65 million.
Agronomics has invested EUR 8.4 million into Onego since inception which, subject to audit, is currently carried at GBP 11.1 million (EUR 12.9 million) and will not change as a result of this fundraise. This position accounts for approximately 6.7% of Agronomics’ last published Net Asset Value (31/03/2024), including post-balance sheet adjustments. Agronomics has an equity ownership of 16.1% on a fully diluted basis.