RCS - Agronomics Limited - Edison issues flash on Agronomics (ANIC)

AgronomicsAnnouncement

26/09/2022 09:00

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RNS Number : 6052A  Agronomics Limited  26 September 2022

London, UK, 26 September 2022

 

Edison issues flash on Agronomics (ANIC)

Agronomics (ANIC) invests in cellular agriculture companies. In our last note,
we discussed a shift in its focus more towards precision fermentation
companies, whose development is more advanced, offering greater near-term
commercial potential. This week's announcement that Onego Bio, one of ANIC's
portfolio companies, has entered a partnership with Perfect Day, a US
precision fermentation company, is a further step in this direction. The
alliance should hasten Onegro Bio's route to market and financial viability
and increase ANIC's potential to realise further NAV uplifts. Food giant
Nestlé's recent move into precision fermentation is further evidence that
ANIC's increasing interest in this sector may prove timely.

 

News of Onego Bio's alliance with Perfect Day closely follows another
announcement that bodes well for the future of precision fermentation
technology more generally, and for ANIC's increasing investment in this
sector. Last week, Nestlé announced it is exploring emerging technologies for
the development of animal-free dairy protein-based products. Nestlé's
interest in fermentation technology demonstrates the attraction this
technology has as a potentially viable method of producing animal-free protein
at scale. Specifically, Nestlé will pilot a novel product that uses
animal-free protein produced by Perfect Day. The product will be tested in the
US market later this year. Further details about this product are not yet
available, but its development will be supported by Nestlé's R&D
Accelerator programme, which brings together start-ups, academic institutions
and Nestlé scientists with the purpose of accelerating the development of new
products and systems. Programme participants have access to Nestlé's R&D
expertise and its infrastructure, including labs, kitchens and pilot-scale
equipment.

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