June 14, 2021

By Lynda Kiernan-Stone, Global AgInvesting Media

S2G has led a multinational $4.3 million round through its S2G Oceans & Seafood Fund for ViAqua Therapeutics, an Israeli developer of an orally delivered RNA-particle platform to improve the health of aquaculture animals. 

Other investors participating in the round included new investors Thai Union and Agriline, and return investors Nutreco, Visvires New Protein, The Trendlines Group, and the Technion Israel Institute of Technology.

The Israeli Innovation Authority also awarded additional grant funding to the company. 

“We are delighted to attract the support of new investors at S2G Ventures and Thai Union, in addition to the ongoing commitment from The Trendlines Group, Nutreco, VisVires New Protein and the Technion,” said Shai Ufaz, CEO, ViAqua. “We look forward to scaling up production for commercialization and are excited on expanding our product pipeline to address some of the world’s most pertinent diseases in aquaculture.”

ViAqua has developed a biological formulation feeding solution that employs a proprietary encapsulated RNA particle formulation that prompts a cell reaction, disabling, or “silencing” viral infections. These food-grade coated particles are non-GMO and present a much easier treatment compared to the traditional method of injecting shellfish one at a time.

The world loves shrimp, making it the most valuable globally-traded marine product, according to the World Wildlife Fund.  And, with a growth rate of 10 percent per year, shrimp farming is the fastest growing category in the aquaculture industry. However, viral diseases have plagued the industry for decades with scarce tools to combat them. 

The mortality rate associated with viral outbreaks in shrimp populations can be as high as 100 percent within days of onset, leading to devastating losses for producers – estimated to be between 30-40 percent in global shrimp production per year.

“Disease prevention is a primary concern in the aquaculture sector and ViAqua has a promising technology platform to help manage the health of shrimp and other species,” said Thiraphong Chansiri, president and CEO, Thai Union. “Thai Union is looking forward to supporting ViAqua as they help the global aquaculture industry address this challenge.”

Historically, employing RNA-based technologies has been a challenge due to the cost of production and the need for an efficient delivery method in aquatic environments. ViAqua’s proprietary biotechnology platform addresses these issues through its unique encapsulated delivery method.

“We are incredibly excited to support ViAqua in their mission to improve animal health and address aquatic diseases while minimizing environmental impact,” said Larsen Mettler, managing director at S2G Ventures Oceans and Seafood. “We are thrilled to partner with this talented team and international group of co-investors that reflect the massive market opportunity.”

In July 2018, Dutch animal and aquaculture feed specialist Nutreco announced it had made an undisclosed investment in ViAqua. Nutreco, which has a presence in over 90 countries across five continents through its two brands Skretting and Trouw Nutrition, said at the time that the investment aligned with its mission of “Feeding the Future” in a world with limited resources amid growing demand for high quality shrimp, fish, and meat from a growing population.

It was at this point that the two companies also forged a commercialization agreement under which Nutreco’s aquaculture division, Skretting, will work with ViAqua to bring its technology to market.

“Nutreco and Skretting’s combined resources and rich knowledge of the aquafeed industry will provide ViAqua with an outstanding opportunity to develop technologies with the right fit for the market,” Ufaz said in 2018. “We look forward to collaborating, learning, and contributing our knowledge and expertise, to the common benefit of ViAqua, Nutreco and Skretting.”

– Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan@globalaginvesting.com.