TIDMBSFA

RNS Number : 3090E

BSF Enterprise PLC

27 October 2022

27 October 2022

BSF Enterprise PLC

("BSF" or the "Company")

3D Bio-Tissues receives EUR100,000 grant

BSF Enterprise, an investment company focused on unlocking the next generation of biotech solutions and the development of lab-grown tissues, is pleased to announce that its 100% owned subsidiary, 3D Bio-Tissues (3DBT), has been awarded a EUR100,000 grant to build upon the current capabilities of its proprietary serum-free media, City-mix(TM).

The grant was awarded by leading food innovation organisations, EIT Food, co-founded by the European Union, in partnership with the Good Food Institute. EIT Food's aim is to drive the production of cultivated meat, reduce the cost of cultivated meat production, and accelerate its commercialisation.

City-mix(TM) is an animal-free cell growth agent for culturing skin, muscle and fat cells for use in cultivated meat and leather production. It aims to maximise the effectiveness of using animal-free culture media, reduce the reliance on animal protein components in meat products, and lower the cost of production for manufacturers.

More broadly, cultivated meat has the potential to be far less resource-intensive, decreasing methane emissions, deforestation, biodiversity loss, water use, water pollution, antibiotic resistance, and foodborne illnesses. These products are identical to the beef, pork, chicken, and seafood that people enjoy eating today - but grown directly from animal cells instead of animals. A recent study by CE Delft - the first ever to be based on data from cultivated meat companies - found that cultivating meat from cells could cut the climate impact by up to 92 per cent, reduce air pollution by up to 93 per cent, and use up to 95 per cent less land and 78 per cent less water compared with farming animals.

Today's announcement marks another important milestone ahead of 3DBT unveiling the UK's first 100% lab-grown fillet in the next few months.

Che Connon, Chief Executive of 3D-Bio Tissues, said : "We are honoured to receive this award. 3D Bio-Tissues is at the forefront of cultivated meat innovation, and we believe our technology has the potential to create a real impact on this market and improve the lives of millions of people around the world. This grant is a strong endorsement of our team and our work from a range of prestigious groups in our sector."

   For further enquiries, please visit   www.bsfenterprise.com   or contact: 
 
 
 
   BSF Enterprise PLC                        Via SEC Newgate 
                                             below 
 Geoff Baker - Non-Executive Director 
  Che Connon - Executive Director 
 
 Shard Capital (Broker) 
 Damon Heath                               0203 971 7000 
 
 SEC Newgate (Financial Communications) 
 Bob Huxford                               020 3757 6882 
  Elisabeth Cowell                          BSF@secnewgate.co.uk 
  George Esmond 
 
   ISIN of the Ordinary Shares is   GB00BHNBDQ51 
   SEDOL Code is   BHNBDQ5.

Notes to Editors

BSF Enterprise PLC (BSF) is focused on unlocking the next generation of biotechnological solutions - using cell-based tissue engineering to help generate cultured meat, lab-grown leather, as well as human corneas, collagen growth and skin substitutes, as part of a radical transformation to deliver sustainable solutions across a variety of sectors.

It owns 100% of 3D Bio Tissues (3DBT), a tissue engineering with patent-protected IP that is already producing human corneas to help restore vision to millions of people. Building on this success, it aims to produce the UK's first high quality lab-grown meat from its laboratory in Newcastle the next 12 months, transforming the meat-production industry towards an ethical and sustainable practice.

BSF aims to deliver growth to shareholders through the continued commercialisation of 3DBT's IP, which has multiple applications, as well as through M&A. It aims to acquire a suite of technologies that underpins the development of tissue templating for corneas, meat and leather, and license out the IP to manufacturers, wholesalers and distributors to help manufacture the products at scale.

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October 27, 2022 02:00 ET (06:00 GMT)

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