CULT FOOD SCIENCE CORP. Strategic seed and Series A investments into cellular agriculture and
lab grown meat companies position the Company on leading edge of
foodtech
Key Highlights
CULT Food Science has invested over$3.5M into a global portfolio of 19 cellular agriculture and lab grown meat startups.- Regulatory approvals in the U.S.,
Singapore andIsrael signal a pivotal moment for the lab grown meat and cellular agriculture industry. CULT Food Science anticipates the portfolio will increase in value with the growth of the cellular agriculture industry and may unlock significant shareholder value and access to future non-dilutive capital as portfolio companies work towards achieving future liquidity exits.
Melibio Named one of
Melibio continues to gain recognition for its groundbreaking work, being named one of
California Cultured has entered a 10-year commercial partnership with Japanese chocolate giant Meiji, incorporating the company's flavanol cocoa powder into several packaged goods distributed by Meiji. Dark chocolate is second only to beef in greenhouse gas emissions by food product and the chocolate industry also has a long history of contributing to mass deforestation and human rights abuses. California Cultured has developed a sustainable solution. The company makes cocoa in fermentation tanks, a climate-resilient approach that also addresses deforestation and labor exploitation.
Good Meat, the lab grown meat subsidiary of Eat Just, has secured the first retail listings for cell-based meat globally. Good Meat's cell-cultivated chicken – sold under the Good Meat 3 brand – will be on the shelves at Huber's Butchery in
UMAMI Bioworks and Shiok Meats Merge to Spearhead Commercialization of
UMAMI Bioworks and Shiok Meats, two trailblazing entities in the cultivated seafood realm, have joined forces to form a consolidated entity poised to propel cultivated seafood towards commercial viability. This strategic merger, marking a pioneering endeavor in the cultivated seafood domain, amalgamates UMAMI Bioworks' cutting-edge production technologies with Shiok Meats' groundbreaking research in crustacean cell cultivation.
By synergizing their respective competencies, the amalgamated entity anticipates optimizing go-to-market efficiencies, broadening commercial avenues, and expediting regulatory endorsements to introduce cultivated seafood products into the market. This collaborative effort not only promises to revolutionize the regional culinary landscape but also presents a sustainable alternative to conventional industrial fishing and aquaculture practices.
Under the leadership of
Opalia Secures CAD
Opalia, a
Unicorn Biotechnologies launches new cell lines, files patents, and wins grant funding
Unicorn Biotechnologies, an innovative leader in automated, reliable, and scalable biomanufacturing solutions for human and planetary health, has made significant strides in advancing the cultivated meat industry. Through its subsidiary,
Unicorn Biotechnologies has demonstrated its commitment to innovation through the filing of three patents, underscoring its dedication to advancing biotechnology. Additionally, the company's exceptional achievements have been recognized through the acquisition of over
Collaboration Opportunities
Management Commentary
"We are thrilled with the exceptional progress of our portfolio companies and investments across the cellular agriculture ecosystem. We have a wide ranging, diversified portfolio that gives us exposure to alternative protein, dairy and food production that doesn't require factory farming. With continual regulatory approvals and near term commercialization opportunities, we believe we are uniquely positioned to benefit from our early bets on many of these promising companies. Cellular agriculture and lab grown meat is beginning to hit critical adoption and we are thrilled to have equity ownership in some of the most promising companies in food technology" said
About
Additional information can be found by viewing the Company's website at cultfoodscience.com or its regulatory filings on sedar.com.
On behalf of the Board of Directors of the Company,
"Mitchell Scott"
Forward-Looking Information:
Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to the following risks: those associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company's MD&A and other disclosure filings with the regulators which are found at sedar.com.
SOURCE
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