REG - BSF Enterprise PLC - AGM Statement

BSF EnterpriseAnnouncement

15/03/2023 07:00

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RNS Number : 9668S  BSF Enterprise PLC  15 March 2023

15 March 2023

BSF Enterprise PLC

("BSF" or the "Company")

 

AGM Statement

 

The Annual General Meeting ("AGM") of BSF Enterprise (BSF (LSE: BSFA), the
Main Market listed biotech company and the owner of pioneering UK-based
clinical and cellular agriculture company 3D Bio-Tissues, will hold its AGM
today at 10 a.m. where the Company's Managing Director Che Connon will provide
the following statement:

 

"The Board is delighted to welcome you to our AGM. The successful reverse
takeover of 3D Bio-Tissues (3DBT) in 2022 enabled us to rapidly make our mark
on the cellular agriculture industry.

 

Achievements during the year ending 30 September 2022 include:

 

·    The expansion of our laboratory space in Newcastle

·  The expansion of our technical team and recruitment of a Business
Development Director and Chief Financial Officer

·   Significant advancement of our R&D activities, culminating in the
production of successful prototypes of lab-grown meat fillets

·    The launch of our Go-to-Market strategy, and strong engagement with
potential customers in the Cellular Agriculture industry

 

Post period end, we have built on this momentum, with achievements including:

 

·   Successfully produced and consumed the UK's first full-scale fillet of
cultivated meat. This was a major scientific breakthrough made from 100% meat
with no animals suffering in its production. This was achieved through the use
of our platform process, which eliminates the need for plant-based scaffolds,
with tissue growth being accelerated by the use of our proprietary City-mix™
media, which is food safe and animal serum free.

·    The receipt of grants from leading food innovation organisations to
build upon the current capabilities of our proprietary serum-free media
supplement, City-mix™

·     22 City-mix™product evaluations underway as at 6 March 2023

·     Application to trade on the OTCQB Venture Market in the United
States

 

The Directors believe a second year of similar growth and development lies
ahead. We are excited at the prospects for 3DBT in both the near and mid-term
as we seek to grow the business both through our Go To Market strategy and
expansion into new markets. We are forging ahead in producing our 100% meat
showcase products, which will be presented, at a public event in the coming
months.

 

The market opportunity also underpins our positive outlook. The cultivated
meat market alone is expected to grow at a CAGR of 410% to 2030, with a range
of verticals into which we can supply City-mix™ to help serve high-growth
markets.   With an imminent listing on the OTCQB Venture Market in the
United States, we will expand our reach to a broader pool of investors and
create the potential for greater liquidity in the Company's shares.

 

We would like to thank our investors for their support and look forward to
keeping the market updated with our progress."

 

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