REG - BSF Enterprise PLC - City-Mix Bio-Pharmaceutical Update

BSF EnterpriseAnnouncement

17/07/2023 07:00

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RNS Number : 1473G  BSF Enterprise PLC  17 July 2023

17 July 2023

BSF Enterprise PLC

("BSF" or the "Company")

 

City-Mix(TM) Bio-Pharmaceutical Update

 

BSF (LSE: BSFA), (OTCQB: BSFAF), the Main Market listed biotech company,
provides a commercial update on the progress of City-Mix(TM), the flagship
commercial product of its wholly owned subsidiary 3D Bio Tissues (3DBT).

3DBT's City-Mix(TM) is a patented non-toxic culture media supplement that
acts as an effective "cell booster." It is composed of a specific formulation
that facilitates a process called macromolecular crowding which has a number
of advantages over traditional media used in the production of cultivated
meat. These include higher production yields; the need for fewer expensive
supplements to significantly reduce operating costs; the elimination of
animal-derived serum, such that no animals suffer in the production process;
and the removal of the requirement for any plant-based scaffold, blend or
filler alternatives.

Go-to-Market Bio-Pharmaceutical Update

3DBT has made significant progress following the implementation of the second
phase of the Company's go-to-market strategy which, in addition to the
Cultured Meat and Cellular Agricultural markets, is now addressing the
Bio-Pharmaceutical industry by partnering with those working in gene therapy,
stem cells and regenerative medicine; life science companies; and academia.

 

The Company has partnered with Benzol - a world leader in the science
distribution sector - to help commercialise and act as a distributor of
City-Mix(TM) across Germany. Biozol is the leading distributor for some of the
leading global pharmaceutical companies, engaging with 14,000 companies across
the industry. This partnership forms part of the Company's strategy to use an
indirect sales model for the biotech and life sciences markets and partner
with appropriate distributors across Europe and the US.

 

3DBT has also engaged directly with one of the leading global suppliers to
pharmaceutical companies. The Fortune 500 company is a world leader in
providing solutions for cellular analysis and synthetic biology. The company
has currently purchased several vials of City-Mix(TM) for evaluation to be
used in its media formulation and help reduce costs.

 

Meanwhile, one of the world's leading stem cell companies, which specialises
in converting stem cells into fat tissue, is also evaluating the use of
City-Mix(TM) in its production process to help increase efficacy and reduce
costs. If successful, the partnership will provide a significant opportunity
for scalable volume production of City-Mix(TM) .

 

The Company will continue to deliver its go to market strategy and increase
the licensing of City Mix™ through engagements with distributors across
target global markets.

 

Cultivated Meat Update

 

Since March, 3DBT has continued developing commercial partnerships with
cellular agriculture companies. Two companies began purchasing the product in
April 2023, and, after a detailed trial evaluation which has now completed, a
further company will be purchasing City Mix(TM) to be used in its production
media.

 

3DBT will continue to develop its partnerships programme with established food
manufacturers throughout 2023, including across Europe, China and the US
following the approval from the joint United States Department of Agriculture
("USDA") and Food and Drug Administration ("FDA") framework to sell their
cell-cultivated chicken to US consumers.

 

Update on US Listing

 

As announced on 25 May 2023, BSF Enterprise listed on the OTCQB Venture Market
to help improve liquidity in the stock and attract further investment
interest.  Following the listing, the Company held a successful investor
roadshow in the US with both current and prospective investors, alongside
potential commercial partners. The initial response from US investors has been
positive. The Company will continue to engage with investors in the US and
will provide a further update on progress in due course.

 

An Investor brief fact sheet can be viewed on the BSF website and at the
following link: bit.ly/bsf202306 (http://bit.ly/bsf202306)

 

Che Connon, Chief Executive of 3DBT and Managing Director of BSF, said: "We
have made significant progress in the short time since we implemented our go
to market strategy for City-Mix(TM), with an increasing number of commercial
partnerships and sales opportunities successfully progressing across our
direct and in-direct global sales channels. City-Mix(TM) is a truly
differentiated product, with key advantages over traditional media supplements
and this is now being realised and evidenced across the cultivated meat
industry and by global leaders in the pharmaceutical sector."

 

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

 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

 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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