Novo Holdings leads £11 million Series A financing in Roslin Technologies

November 3, 2022

Copenhagen, Denmark – Novo Holdings, a leading international life sciences investor, today announces it has led the £11million Series A financing in Roslin Technologies Ltd (Roslin Tech), an Edinburgh-based food & ag tech company. The funds will fuel the Company’s next wave of growth in its mission to become the leading provider of animal cell lines to the emerging cultivated meat sector globally.

Cultivated meat, grown directly from animal cells without the need to raise animals offers the promise to improve animal welfare, lower antibiotics use and reduce the environmental footprint of meat production. The sector is rapidly growing with over 100 companies active today, funded by significant investment. Cultivated meat needs to be safe, affordable and nutritious, deliver a great sensory experience and reduce production costs. Roslin Tech has developed pluripotent animal stem cells with the capacity to self-renew indefinitely and differentiate into desired end-tissues for meat.

The new funding will allow Roslin Tech to expand its cell line portfolio and to further develop the protocols for scale up of its cells into cost competitive cell biomass for meat production, working jointly with its customers, development collaborators, and the University of Edinburgh, with which Roslin Tech has a privileged relationship. It will also invest in its insect venture which focuses on breeding better insects for the emerging insect protein sector, a promising regenerative agricultural technique.

Novo Holdings is joined by Kairos Capital Group, Nutreco, Future Planet Capital, Esco Lifesciences, Alchimia, and private investors. This adds to funding received in 2021-2022 from Scottish Enterprise and existing shareholders including the University of Edinburgh’s venture capital fund, Old College Capital, and Future Planet Capital’s British Innovation Opportunities Fund.

Ernst van Orsouw, Chief Executive Officer of Roslin Tech, says: “We are excited to welcome Novo Holdings and other like-minded investors on our journey to improve food suply. With their investment and strategic support, we can accelerate the development of better biomass products for the sector and focus on meeting the nutrition and sustainability needs of our customers.”

Nis Bak, Principal Novo Seeds, and new Board Member of Roslin Tech, adds: “We’ve been impressed with the Roslin Tech team and its innovative technologies, which have the potential to materially improve the production of novel, sustainable macronutrients. We are excited to invest alongside a strong syndicate of investors whose joint vision for Roslin Tech and complementary capabilities will be a great asset to the Company in its continued development.”

Antony Siau, Founder of Kairos Capital Group and new Board Member of Roslin Tech, continues: “The combination of innovative technology, robust business model and expert scientific team makes Roslin Tech a uniquely qualified investment from our newly launched Food Tech Fund. We look forward to working with the Roslin Tech Board and leadership team to further expand its presence, particularly in Asia.”

Catherine Martin, Vice Principal of Corporate Services at the University of Edinburgh said: “We are delighted to welcome Novo Holdings as partner and look forward to jointly supporting Roslin Technologies. The scale of this new investment and the calibre of its source is a testament to the expertise and experience of the Roslin Tech team and a great indicator of likely future success.”

About Novo Holdings A/S

Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets. Novo Holdings is recognised as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: www.novoholdings.dk.

About Roslin Technologies Limited

Based in Edinburgh, Roslin Tech is an ambitious food and ag tech company focused on disruptive biotechnologies. The Company’s core capabilities lie in developing and commercialising animal stem cells for the nascent global cultivated meat industry. Roslin Tech was founded in 2017 as a venture between two investment firms and the University of Edinburgh from which it has certain rights to commercialise intellectual property from the University’s Royal (Dick) School of Veterinary Studies and the Roslin Institute, a global leader in animal science. www.roslintech.com and @roslintech.

Further information

Karen Galloway, Marketing Roslin Technologies Ltd, +44 7541 804929, info@roslintech.com

Christian Mostrup, Public Relations Novo Holdings, +45 3067 4805, cims@novo.dk