The future of how eggs are made might be about to change.

‍What’s happening:‍

• Food biotechnology startup Onego Bio has raised $40M USD in a new Series A financing round
  
• The round was led by venture capital fund NordicNinja and included participation from Agronomics (LSE: ANIC)
  

The big idea:‍

• Onego Bio has developed new precision fermentation science around producing ovalbumin, which is the primary source of protein contained inside of egg whites
  
• Omega Bio's proprietary ingredient which is known as Bioalbumen is biologically identical to ovalbumin and is completely animal free
  

Why it matters:‍

• Cultivated meat and precision fermentation science for alternative production methods for protein have been on the rise, with recent approvals for lab grown meat in Israel
  

By the numbers:‍

• Ovalbumin contains 65% of the actual protein that exists in an egg white
  
• Producing egg white protein through precision fermentation reduces water consumption by 72% and land use by 95% when compared to factory farming
  

Going deeper:‍

• Precision fermentation science for egg whites also has unique potential for optimizing overall food safety, due to the face there is no exposure to antibiotics, bird flu or salmonella in the production process

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