RCS - Agronomics Limited - IsraFirst Regulatory Approval for Cultivated Beef

AgronomicsAnnouncement

18/01/2024 07:00

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RNS Number : 0724A  Agronomics Limited  18 January 2024

 

 18 January 2024

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

("Agronomics" or the "Company")

 Israel Awards the World's First Regulatory Approval for Cultivated Beef

 

Agronomics (LON: ANIC), a leading listed company in cellular agriculture, is
pleased to announce that the Israeli Ministry of Health (IMOH) has granted
regulatory approval for the world's first commercial sale of cultivated beef.

Agronomics would like to congratulate Aleph Farms on becoming the first
company in the world to gain regulatory approval for its cultivated beef
product after the IMOH issued a 'no questions' letter, which allows the
company to commercialise its products in Israel.  Aleph Farms has also filed
for regulatory approval in Singapore, Switzerland, the UK and the US, and is
advancing its applications in other markets.

Agronomics is aware of multiple companies, including those within its
portfolio, that are expecting regulatory approvals for cultivated meat and
seafood products across several markets. Meanwhile, Vow Food is in the middle
of a consultation process after its cultured quail was cleared as safe to eat
by Food Standards Australia and New Zealand in December 2023.

These announcements follow Upside Foods and Good Meat, which received
regulatory approval for their cultivated chicken products in the US last year.

Jim Mellon, Executive Chairman of Agronomics commented:

"This approval is another significant step forward for our industry and shows
the commitment among an increasing number of jurisdictions to find more
sustainable production methods to meet the increasing global demand for
protein. We look forward to seeing some of Agronomics' portfolio companies
achieving this significant milestone in the near future."

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

Agronomics is a leading listed alternative proteins company with a focus on
cellular agriculture and cultivated meat. The Company has established a
portfolio of 24 companies in this rapidly advancing sector. It seeks to secure
minority stakes 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,
as well as being fundamental to feeding the world's expanding population. A
full list of Agronomics' portfolio companies is available at
https://agronomics.im/
(https://clicktime.symantec.com/368cVqxx3R6vTFuHpf6MSE66Gi?u=https%3A%2F%2Fagronomics.im%2F)
.

 

About Cellular Agriculture

Cellular Agriculture is the production of agriculture products directly from
cells, as opposed to raising an animal for slaughter, or growing crops. This
encompasses cell culture to produce cultivated meat and materials, and
fermentation processes that harness a combination of molecular biology,
synthetic biology, tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.

 

Over the coming decades, the source of the world's food supply traditionally
derived from conventional agriculture is going to change dramatically. We have
already witnessed the first wave of this shift with the consumer adoption of
plant-based alternative proteins but today, we are on the cusp of an even
bigger wave of change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists claims that if we
maintain existing animal protein consumption patterns, then we will not meet
the Paris Agreement's goal of limiting warming to 1.5℃.

 

AT Kearney, a global consultancy firm, projects that cultivated meat's market
share will reach 35% by 2040. This combined with the Good Food Institute's
estimate that a US $1.8 trillion investment will be required in order to
produce just 10% of the world's protein using this technology, means that we
are on the cusp of a multi-decade flow of capital to build out manufacturing
facilities. Funding in the field of cellular agriculture is accelerating,
however still less than US$ 5 billion has been invested worldwide since the
industry's inception in 2016.

 

For further information please contact:

 Agronomics           Beaumont              Canaccord Genuity Limited       Cavendish Securities Plc  Peterhouse Capital    SEC Newgate

 Limited              Cornish Limited                                                                 Limited
 The Company          Nomad                 Joint Broker                    Joint Broker              Joint Broker          Public Relations
 Jim Mellon           Roland Cornish        Andrew Potts                    Giles Balleny             Lucy Williams         Ed Orlebar

 Denham Eke           James Biddle          Harry Pardoe                    Michael Johnson           Charles Goodfellow    Alistair Walker

                                            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  +44 (0) 20 7930 0777


 info@agronomics.im                                                                                                         +44 (0) 7738 724 630

                                                                                                                            agronomics@tbcardew.com

 

 

 

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