Onego Bio secures financing for R&D
In Finland, biotech firm Onego Bio said that the Finnish Ministry of Employment and the Economy has awarded a grant of nearly $4.5 million for Onego Bio’s research and development work.
Onego Bio is a biotech spin-off from VTT Technical Research Center of Finland. The company said it uses a commercially proven Trichoderma technology to solve environmental problems associated with eggs. The company also noted that this precision fermentation method produces ovalbumin, the most abundant egg white protein.
According to Business Finland, the company’s solution rises to the major global challenges and development trends in food production. The entity highlighted that this product has significant international business potential, and promotes sustainable food production, food security and the fight against climate change.
The company aims to launch its first product Bioalbumen as a food ingredient for food industry and later enter the consumer market with its own branded products.
Category: Research
