Welcome to our dedicated page for Agronomics news (Ticker: AGNMF), a resource for investors and traders seeking the latest updates and insights on Agronomics stock.
Agronomics Ltd reports developments tied to its listed clean-food investment portfolio, including net asset value updates, interim financial results, share issuance, total voting rights and director dealing notifications under UK market-abuse disclosure rules.
Company announcements also describe investments and valuation movements across portfolio companies working in precision fermentation, cultivated seafood, animal-free dairy proteins and related food biotechnology. Recurring items include funding rounds, regulatory clearances, commercial-scale manufacturing initiatives and portfolio company status changes, including orderly wind-downs when an investment is written down.
Agronomics (LSE:ANIC) has invested US$ 2 million in Liberation Labs Holdings Inc.'s US$ 3.5 million fundraise via a Secured Promissory Note. The note pays 10% interest annually and matures on October 10, 2027. It will convert into the same instrument and terms as Liberation Labs' intended Series A round, which aims to raise a minimum of US$ 37.5 million.
Agronomics has now invested a total of US$ 19.6 million in Liberation Labs, holding a 37.5% stake on a fully diluted basis. The investment is currently valued at £25.7 million, representing about 15.9% of Agronomics' last stated Net Asset Value. Liberation Labs, an early-stage company, has no revenues, monthly operating costs of US$ 0.4 million, and total assets of US$ 49.5 million as of June 30, 2024.
Agronomics (LSE:ANIC) has invested US$2 million in Liberation Labs Holdings Inc.'s US$3.5 million fundraise via a Secured Promissory Note. The note pays 10% interest annually and matures on October 10, 2027. Additionally, Liberation Labs received a US$1.39 million award from the US Department of Defense for a feasibility study on adding a 4 million litre biomanufacturing facility.
Liberation Labs has signed letters of intent with potential customers representing over 200% of available capacity for its Launch Facility's first years of operations. Agronomics has now invested a total of US$19.6 million in Liberation Labs, holding 37.5% on a fully diluted basis. The company's position in Liberation Labs represents approximately 15.9% of Agronomics' last stated Net Asset Value.
Agronomics announces that its portfolio company, Meatable B.V., has secured €7.6 million in funding under the Innovation Credit programme from the Netherlands Enterprise Agency. This credit will be used to improve productivity and reduce costs as Meatable prepares for commercialization. Meatable, a frontrunner in cultured meat, has raised approximately €97 million to date, including a €30 million Series B funding round in August 2023.
Meatable recently achieved significant milestones, including hosting Europe's first public tasting of its cultivated meat products and reducing production times for its pork sausage by 50%, from 8 days to 4. Agronomics' Co-Founder and Executive Chair, Jim Mellon, highlighted Meatable's innovative approach as a promising solution to meet rising global meat demand while mitigating environmental impacts.
Agronomics (LSE:ANIC) announces that its portfolio company, Onego Bio, has secured EUR 14 million in new funding from the European Innovation Council Accelerator Program and an additional Series A investor. This brings Onego's total funding to EUR 65 million. Agronomics' investment in Onego remains at EUR 8.4 million, currently valued at GBP 11.1 million (EUR 12.9 million), accounting for 6.7% of Agronomics' last published Net Asset Value. Agronomics holds a 16.1% equity ownership on a fully diluted basis.
Onego Bio, a precision fermentation company, is developing Bioalbumen®, a bio-identical egg protein. The company aims to commercialize in North America first, with plans to submit a GRAS notice to the FDA this year. The new funding will support Onego's go-to-market plans in both the US and EU, including regulatory approval processes.
Agronomics, a London-listed cellular agriculture company, announced the exercise of warrants, resulting in the issuance of 1,791 Ordinary Shares at 28.5p each, generating gross proceeds of £510.43. These shares will be admitted to trading on AIM around June 11, 2024, and will be pari passu with existing shares. Following this admission, Agronomics' total share count will be 1,009,411,583. Shareholders can use this updated share count for transparency rule calculations. Agronomics has a portfolio of over 20 companies focused on innovative food and material production technologies, addressing sustainability, human health, animal welfare, and environmental issues.
Agronomics , a leading company in cellular agriculture, announces that its portfolio company Meatly has developed a protein-free culture medium for cultivated meat at a groundbreaking price of one pound per liter. This innovation significantly reduces production costs and paves the way for price parity with conventional meat products. With a focus on the pet food market, Meatly's achievement marks a critical milestone in the cultivated meat industry, driving scalability and affordability. Agronomics and investors like Pets at Home are supporting Meatly's upcoming product release, highlighting the company's positive trajectory in the alternative proteins sector.
Agronomics announced an unaudited Net Asset Valuation per share of 16.98 pence, a 0.5% increase from the previous quarter. The company's Net Assets were £171 million, with a 48% discount to the share price. Agronomics made progress in funding rounds and partnerships, marking positive revaluations and acquisitions within their portfolio.
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