Lerøy Seafood invests in US biotech company

The Lerøy Seafood Group has announced a strategic investment in the US biotech company Salmonics.

The terms of the investment remain undisclosed, but the announcement said it will support Salmonics’ continued growth and cutting edge biotechnology, which uses fish blood to create healthcare products.

Lerøy is well known as one of Norway’s leading fish farming companies (salmon and trout) and also owns one of the country’s largest deep sea fishing fleets. It is also part owner of Scottish Sea Farms.

Based in Maine, in the northeastern United States, Salmonics develops and markets innovative re-agents and biomedical products from the blood of salmon and other fish species.

It transforms this by-product into a valuable resource for research, and veterinary and human health applications.

Salmonics says its proteins and re-agents support a wide range of applications, including regenerative medicine, cell proliferation, clotting, wound care and pain treatment.

Henning Beltestad, CEO of Lerøy, said: “We are excited and pleased to support the work Salmonics has undertaken to advance cutting-edge biotechnological solutions utilising farmed fish, increasing value and meeting our sustainable development goals.

“This investment reflects our commitment to innovative solutions that enhance the efficiency and potential of the seafood value chain while delivering positive benefits to healthcare.”

Lerøy’s investment marks a significant milestone for Salmonics, providing the company with the resources to accelerate its product development and market reach.

Cem Giray, President and CEO of Salmonics, said: “This collaboration between Salmonics and Lerøy will usher in new opportunities to expand the use of our fish blood based biomedical products into the biotechnology and pharmaceutical space globally.

“Lerøy’s expertise and commitment to sustainability align perfectly with our mission to transform aquaculture and fisheries by-products into valuable biotechnology, pharmaceutical, and research resources to improve patient care and outcomes while potentially lowering healthcare costs with a net positive environmental impact.”

Cem Giray, President and CEO, Salmonics