REG - BSF Enterprise PLC - BSF Enterprise and Ivy Farm Enter Partnership

BSF EnterpriseAnnouncement

07/03/2024 07:00

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RNS Number : 9004F  BSF Enterprise PLC  07 March 2024

7 March 2024

BSF Enterprise PLC

("BSF" or the "Company")

 

BSF Enterprise (Hong Kong) Ltd and Ivy Farm Technologies Enter Partnership

 

BSF (LSE: BSFA), (OTCQB: BSFAF), the Main Market listed biotech and industrial
tissue engineering company and owner of pioneering UK-based tissue engineering
company 3D Bio-Tissues (3DBT) and corneal tissue replacement company
Kerato, is now working with the UK's leading cultivated meat production
company, Ivy Farm Technologies Limited (Ivy Farm) to help fundraise, launch
and scale its cultivated meat plans in China.

BSF Enterprise (Hong Kong) Ltd (BSF HK) was recently formed as a separate
entity under the BSF Enterprise umbrella to develop a distribution and partner
network in the Greater China market. Given BSF HK's strong presence and
investor network within the Asian cultivated meat and tissue engineering
market, it is looking to partner and work with a number of other biotech and
green tech companies. Today BSF is delighted to announce it has entered into a
commercial agreement with Ivy Farm that will involve generating and
progressing investment opportunities to support the company's fundraising
ambitions. BSF subsidiary company 3DBT is also working with Ivy Farm to test
its City Mix™ serum-free media within its products with the goal of reducing
the cost of cultivated meat production in the Asian market.

Ivy Farm was spun out from the University of Oxford in 2019 and its unique
technology produces nutritious mincemeat from premium Wagyu Beef, Aberdeen
Angus, and English Large White Pork tissue to create delicious final products
such as meatballs, scotch eggs and burgers. In 2022, Ivy Farm unveiled a pilot
plant in Oxford with production capabilities of 2.8 tonnes of cultivated meat
a year, all powered by solar, the largest of its kind in Europe.

BSF will be supporting Ivy Farm's ongoing funding round, aimed at facilitating
the scaling up of technology to accommodate large production-sized fermenters.
In the future Ivy Farm envisions producing 12,000 tonnes from a single
efficient facility, fully powered by renewable energy, thereby slashing
greenhouses gases by 92% and land use by 90% compared to industrial farming
practices. The production of cultivated meat at scale is critical, especially
considering China's annual consumption of over 100 million tons of meat, which
constitutes more than a quarter of global meat consumption.

Professor Cathy Ye, Co-Founder of Ivy Farm and Director at the Oxford Centre
for Tissue Engineering and Bioprocessing (OCTEB), expressed her enthusiasm
about the partnership, emphasizing her personal connection to China where she
was raised and earned her Bachelor's degree in Chemical Engineering from
Dalian University of Technology. She highlighted the significant potential for
sustainable food security in the region that can be enables by the unique cell
lines and technology created at Ivy Farm.

 

Che Connon, Managing Director of BSF Enterprise and CEO of 3DBT, commented:
"Today's announcement represents the start of a strong commercial and
technical working relationship between BSF Enterprise and Ivy Farm. The
cultivated meat market is front and centre for China in its blueprint for
food security as part of its five-year agricultural plan. We look forward to
helping Ivy Farm enter the China market through securing investment and
working with key manufacturers to develop a variety of cultivated meat
products that can serve a significant, growing market."

 

 

For further enquiries, please visit www.bsfenterprise.com
(http://www.bsfenterprise.com/)  or contact:

 

Notes to Editors

 

About BSF Enterprise PLC:

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 for testing to
help restore vision to millions of people. Building on this success, it aims
to produce the UK's first high quality leather from its laboratory in
Newcastle, transforming the leather 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 develop 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.

 

About Ivy Farm Technologies:

Ivy Farm Technologies is an innovative cultivated meat company on a mission to
create guilt-free, real meat to tackle one of the world's biggest polluters -
industrial agriculture - and to help the world reach its net-zero goals.
Initially spun out of Oxford University, the company has unique technology
that enables it to tackle the scale-up and cost down challenges of the
industry.

BSF Enterprise PLC

                                          Via SEC Newgate below
 Geoff Baker - Executive Director

 Che Connon - CEO & Director

 Shard Capital (Broker)
 Damon Heath                              0207 186 9000

 Isabella Pierre                          0207 186 9927

 SEC Newgate (Financial Communications)
 Bob Huxford                              020 3757 6882

 Elisabeth Cowell                         BSF@secnewgate.co.uk

 ISIN of the Ordinary Shares is GB00BHNBDQ51

SEDOL Code is BHNBDQ5.

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