REG - BSF Enterprise PLC - New Cornea Company & Investor Update

BSF EnterpriseAnnouncement

26/10/2023 07:00

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RNS Number : 3246R  BSF Enterprise PLC  26 October 2023

26 October 2023

BSF Enterprise PLC

("BSF" or the "Company")

 

New Cornea Company & Investor Update

 

BSF (LSE: BSFA), (OTCQB: BSFAF), the Main Market listed biotech company and
owner of pioneering UK-based clinical and cellular agriculture company 3D
Bio-Tissues (3DBT), provides an investment and strategic update on the
Company's portfolio progress.

Formation of New Cornea Company, Kerato Limited

BSF is pleased to announce the creation of its new lab-grown cornea company,
Kerato Limited ('Kerato')( https://kerato.co.uk/ (https://kerato.co.uk/) ).
Kerato, which will form part of BSF's growing portfolio, will seek to
accelerate the transition of 3DBT's advanced corneal products into clinical
trials, as well as address the growing industrial demand for these products.

Kerato will be 100% owned by BSF and be a stand-alone corporation in this
bio-sciences industry separate from the operation of its sister company - 3D
Bio-Tissues Limited. BSF believes the intellectual property and know-how
relating to the cornea is best served in a separate company to solely focus
efforts to further commercialise the Cornea products.

Kerato is already working with one of America's largest consumer goods
companies, which is evaluating its lab-grown corneas as alternatives to test
the safety and efficacy of their wide range of chemical and pharma products.
Negotiations are currently taking place with other companies for the use of
3DBT's lab-grown corneas for other medical and industrial applications.

BSF further announces that Sarah Greenhalgh has been appointed as Managing
Director of Kerato to oversee the development of its product offerings and
implementation of its sales strategy. Mrs Sarah Greenhalgh is an experienced
Operating Officer in the biotechnological and medical technology space, with
more than 20 years of experience managing a multi-million-pound project
portfolio, and building and leading interdisciplinary teams of scientists,
academics, clinicians and industry partners to answer research questions. She
has led the design and delivery of early-stage clinical research projects and
clinical trials, including medical devices and has extensive experience in
executing business strategies to help deliver commercial milestones.

Funding

The Company raised £2.9m in an oversubscribed capital raise in March 2023
and, in September 2023, it was awarded a EUR612,000 grant from the European
Institute of Innovation and Technology to further develop its serum-free media
technology, City-Mix™.

BSF has sufficient funds to support its present portfolio companies and
planned activities for the next 18 months and has no present plans to raise
further capital in the short-medium term.

Investor Update

Following its admission to the OTCQB Venture Market, BSF has continued to
raise its profile amongst US investors, hosting a series of investor meetings
in New York earlier this month. The feedback from these meetings was extremely
positive and the Company is delighted with the growing recognition amongst US
investors of cellular agriculture as an important and transformative industry
as well as an exciting investment proposition.

Finally, the Company is also working on further updates in regard to other
exciting operational developments and will be releasing this news over the
coming weeks.

Che Connon, Chief Executive of 3DBT and Managing Director of BSF said: "We
continue to make significant progress in executing our business strategy,
building the BSF Portfolio to progress our technical and commercial
milestones. We have a clear plan to continue this momentum by increasing sales
and driving the development of our flagship products across both the cellular
agriculture and bio-pharmaceutical sectors. Our work to establish and grow a
collaborative ecosystem of tissue engineering companies - creating and
investing in new companies - continues to accelerate our commercial presence
across the industry and provide exciting new opportunities."

 

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

 

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

Geoff Baker - Executive Director
 Shard Capital (Broker)
 Damon Heath                                0203 971 7000

Isabella Pierre
0207 1869 927

 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 has produced the
UK's first high quality lab-grown meat from its laboratory using its
technology.

 

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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