RCS - Agronomics Limited - All G Co Update

AgronomicsAnnouncement

27/11/2024 07:00

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RNS Number : 7649N  Agronomics Limited  27 November 2024

 

Agronomics Limited

27 November 2024

  (https://agronomics.im/) Agronomics (https://agronomics.im/)  Ltd

("Agronomics" or the "Company")

All G Receives Approval for Sale of Recombinant Bovine Lactoferrin in China

Agronomics (LSE: ANIC), a leading listed company in the field of cellular
agriculture, is delighted to announce that its portfolio company, All G Co
Holdings Pty Limited ("All G"), is the first company in the world to receive
regulatory clearance for the sale of recombinant bovine lactoferrin in China.

All G is an Australian-based biotechnology company at the forefront of using
precision fermentation to develop high-value, animal-free proteins for use in
a variety of markets - ranging from functional foods, medical nutrition and
infant nutrition.

Lactoferrin, a whey protein found in human and cow milk, is highly
sought-after for its numerous functional benefits, including enhancing gut
function, iron absorption and providing antimicrobial and anti-inflammatory
benefits. However, due to its low concentration in cow's milk, it is expensive
to produce and yields only limited quantities, creating a major opportunity
for alternative protein producers.

China represents one of the largest consumers of lactoferrin globally, driven
by a growing demand for functional foods and health-conscious consumers. The
approval allows for the sale of All G's product into a specific target market
which will be disclosed closer to the time of market entry. The company is
simultaneously progressing with regulatory approval for the use of its
lactoferrin in infant formula, which is expected in 2025.

This approval is significant for All G, as it will allow the company to bring
in initial revenue streams in advance of its Series B fund raise. Revenues are
projected to be at positive margins as All G aims to produce at or below price
parity compared with conventionally produced lactoferrin. All G intends to
release its first lactoferrin product in 2025 and plans to receive approval
for its products in the US, Australia, New Zealand, and Japan.

All G's regulatory approval in China comes after only three years of
operations. To date, All G has raised AU$ 45 million and was named Food &
Beverage Startup of the Year by the Food and Beverage Accelerator in Australia
for its work in changing dairy protein production.  Agronomics has invested
AU$ 15 million into All G since inception, which is currently carried at £7.9
million as of 30 June 2024.

Commenting on the announcement, Jan Pacas, All G CEO, said: "This approval is
a great moment for All G as we lead the way in precision fermentation
technology. Lactoferrin is one of the most valuable and functional proteins in
the world. Our technology unlocks its potential, and this is just the
beginning - our recombinant human lactoferrin is progressing rapidly, with
many other products in the pipeline."

Jim Mellon, Agronomics' Executive Chair, added: "Today's announcement is
another testament to the strength of the Agronomics portfolio. All G is one of
the leading technology companies developing animal-free proteins and achieving
regulatory approval for Lactoferrin in China - the world's largest market - is
an exciting step for the industry. More importantly, it provides a platform
from which All G can bring other key products to market at competitive
prices."

About All G

All G is a Sydney-based biotechnology company that is at the forefront of
precision fermentation, developing high-value, animal-free proteins for use in
functional foods, medical nutrition and infant nutrition.  Founded in 2020 by
CEO Jan Pacas, the company has successfully raised AU$ 45 million and is
planning to launch its first lactoferrin product in 2025.

About Agronomics

Agronomics is a leading London-listed company focussing on investment
opportunities within the field of cellular agriculture. The Company has
established a portfolio of over 20 companies in this rapidly advancing sector.
It seeks to invest in companies owning technologies with defensible
intellectual property that offer new ways of producing food and materials with
a focus on products historically derived from animals. These technologies are
driving a major disruption in agriculture, offering solutions to improve
sustainability, as well as addressing human health, animal welfare and
environmental damage. This disruption will decouple supply chains from the
environment and animals and improve food security for the world's expanding
population. A full list of Agronomics' portfolio companies is available
at https://agronomics.im/ (https://agronomics.im/) .

For further information please contact:

 Agronomics Limited                               Beaumont Cornish Limited  Canaccord Genuity Limited        Cavendish Securities Plc  Peterhouse Capital Limited  SEC Newgate
 The Company                                      Nomad                     Joint Broker                     Joint Broker              Joint Broker                Public Relations
 Jim Mellon                                       Roland Cornish            Andrew Potts                     Giles Balleny             Lucy Williams               Bob Huxford

 Denham Eke                                       James Biddle              Harry Pardoe                     Michael Johnson           Charles Goodfellow          Anthony Hughes

                                                                            Alex Aylen (Head of Equities)
 +44 (0) 1624 639396                              +44 (0) 207 628 3396      +44 (0) 207 523 8000             +44 (0) 207 397 8900      +44 (0) 207 469 0936        agronomics@secnewgate.co.uk

 info@agronomics.im (mailto:info@agronomics.im)

 

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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