ATHENS, Ga.--(BUSINESS WIRE)--Dalan Animal Health, Inc. (“Dalan”), a pioneering biotech company in insect health, today announced the successful closure of a $4.5 million Series Seed 3 funding round. The round was led by Prime Movers Lab with participation from At One Ventures, bringing Dalan's total funding to $10 million.
The additional funding will enable Dalan to expedite its product pipeline and expand its operations beyond the United States. With the largest honeybee sector residing in Europe, boasting 20 million hives compared to the US's 2.67 million, the global need for sustainable solutions in bee health is evident. Dalan is committed to making its groundbreaking technology available where it is most needed, as swiftly as possible.
"Dalan's innovative approach to insect health represents a significant market opportunity," said Dakin Sloss, Founder and General Partner of Prime Movers Lab. "Their pioneering work in developing the world's first honeybee vaccine has the potential to transform the agricultural sector and secure the global food supply."
The recent approval of Dalan's first-of-its-kind honeybee vaccine by the USDA has highlighted the global interest and pressing need for sustainable solutions in the industry. The vaccine, designed to protect honeybees against the devastating American Foulbrood disease, is set to improve the health and productivity of honeybee colonies, thereby increasing yields for farmers who rely on pollination for their crops.
"Most of terrestrial biomass is plants, and most of those are flowering plants. The first vaccine to protect this commercially critical pollinator is a significant stride for protecting both biodiversity and our food supply," said Tom Chi, Founder of At One Ventures.
Annette Kleiser, CEO of Dalan Animal Health, expressed her gratitude for the support and shared her vision for the future. "We are excited to accelerate our product pipeline and expand our reach globally. Our work is vital for sustainable agriculture, and this funding will help us bring our solutions to where they are needed most."
The honey bee vaccine, manufactured by Diamond Animal Health (Des Moines, IA), a wholly-owned subsidiary of Heska (NASDAQ: HSKA), will initially be distributed on a limited basis to commercial beekeepers and queen producers. Beekeepers interested in safeguarding their colonies with Dalan's vaccine can visit the website at https://www.dalan.com/contact or call 844-483-2526.
Read more about the vaccine at: https://www.dalan.com/dalan-bee-vaccine-technology