REG - BSF Enterprise PLC - Lab-Grown Leather Update and Innovation Award Win

BSF EnterpriseAnnouncement

15/05/2023 07:00

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RNS Number : 3377Z  BSF Enterprise PLC  15 May 2023

 

15 May 2023

BSF Enterprise PLC

("BSF" or the "Company")

 

Lab-Grown Leather Update

and

Innovation Award Win

 

Lab-Grown Leather

BSF (LSE: BSFA), a company focused on unlocking the next generation of biotech
solutions and the development of lab-grown tissues, provides an update from
its 100% owned subsidiary, 3D Bio-Tissues Ltd ("3DBT"), on progress with its
development of Lab-Grown Leather products.

 

Following the successful expansion of its laboratory and incubator capacity,
3DBT has bio-engineered samples of animal skin tissue, measuring up to 10 by
10 cm in size and between 0.5 mm to 1 mm in thickness. The production of
tissues with such thickness represents an important milestone in the industry
and the progress being made is testament to the accumulative knowledge being
secured by the team as it successfully advances its tissue engineering
activities. Various properties of the samples will be analysed to evaluate
their potential as a substitute starting material for traditional leather
products. The global leather goods market was valued at £$253 billion in 2023
and is expected to grow to $405 billion by 2030, a CAGR of 6.6%*.

 

3DBT cultivates these tissues using 3DBT's patented City-Mix(TM) supplement, a
culture media booster that provides numerous advantages over traditional media
used in cellular agriculture. These include higher production yields; the need
for fewer expensive supplements and the elimination of animal-derived serum,
such that no animals suffer in the production process. Additionally,
City-Mix(TM) removes the need for conventional plant-based scaffolds, blends
and fillers, as have been universally adopted by the industry to date to
ensure structural integrity of cultivated tissue products. Therefore,
similarly to the meat previously produced, the skin samples are 100% animal
tissue.

 

BSF has engaged with a number of companies within the leather industry in the
UK and abroad regarding potential Proof of Concept (PoC) engagements to
establish the suitability of the skin product as a sustainable, ethical
alternative to traditional leather goods. Once established, BSF will seek to
develop plans to scale-up production of 3DBT animal skin products.

 

Innovation Award Win

3DBT was voted 'University Spinout of the Year' at the North East Innovation
Awards ceremony, a competition organised by the Innovation SuperNetwork on 10
May 2023. The award recognises companies spun out of universities that are
making an impact in terms of innovation, ground-breaking research or
furthering a specific sector or technology. 3DBT was recognised for its
lab-grown animal tissue products, which were described as an inspired,
transformative innovation with world-leading levels of functionality.

 

Estelle Blanks, CEO at Innovation SuperNetwork who delivered the event, said:
"The businesses shortlisted for the awards are innovating at the forefront of
their sectors to develop impactful ideas to help us to tackle some of the most
pressing challenges that we face in the region. The Awards help us to really
celebrate organisations and innovators from across the North East and the
winners in each category demonstrate the range of ideas flourishing right here
in our region. I extend my congratulations to all of them and eagerly
anticipate their future achievements."

 

Che Connon, Chief Executive of 3DBT, said: "We are delighted with the
excellent progress we are making in the development of lab-grown leather
products, which represents a substantial market opportunity. The innovative
work we are doing in this field and in the development of other cultivated
tissue products is being increasingly recognised by the community, including
us winning the "Best University Spinout" award at the North East Innovation
Awards earlier this week."

 

*Grand View Research
(https://www.grandviewresearch.com/industry-analysis/leather-goods-market#:~:text=The%20global%20leather%20goods%20market,6.6%25%20from%202023%20to%202030.)

 BSF Enterprise PLC                      Via SEC Newgate below
 Che Connon - Executive Director

 Geoff Baker - Non-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

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

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 cultivated 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 Ltd (3DBT), a tissue engineering company with
patent-protected IP that is already producing human corneas that will 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
acquiring complementary businesses. 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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