REG - BSF Enterprise PLC - Opens Office in Hong Kong

BSF EnterpriseAnnouncement

03/07/2023 10:00

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RNS Number : 7334E  BSF Enterprise PLC  03 July 2023

 

3 July 2023

BSF Enterprise PLC

("BSF" or the "Company")

 

Opens Office in Hong Kong

 

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"), is pleased to announce that it has formed a new
subsidiary called BSF Enterprise (Hong Kong) Ltd and opened a new office in
Hong Kong ("HK").

 

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 and the elimination of animal-derived serum, such that no animals
suffer in the production process, and removing the need for any plant-based
scaffold, blend or filler alternatives.

As part of its Go To Market strategy, the Company has established a presence
in Hong Kong to provide ease of access to the Greater China market. China
alone consumes more than 100 million tons of meat, more than a quarter of
global meat consumption.

 

Another key target market for City-Mix(TM) is the Bio-Pharmaceutical industry,
and the Greater China region's pharmaceutical sector is second only to the US
market. 3DBT is looking to develop a distribution network in this region,
targeting biotech companies working in gene therapy, stem cells and
regenerative medicine and Life Sciences companies and academia, which research
these disciplines. According to McKinsey, the Chinese Bio-Pharmaceutical
industry has increased from US$3 billion in 2016 to US$380 billion in 2021.
China's stem cell market grew from US$5.2 million in 2016 to US$97.5 million
in 2021 at a compound annual growth rate ("CAGR") of 79.9%. The market is
expected to grow to $544.6 million by 2026 at a CAGR of 41.1%.

 

Che Connon, Chief Executive of 3DBT and Managing Director of BSF Enterprise,
said: "Greater China has a booming biopharma industry and is also one of the
biggest consumers of meat. In addition, last year China's Ministry of
Agriculture and Rural Affairs included cultivated meat in its blueprint for
food security in its official five-year agricultural plan. With this in mind,
today's announcement is an important step for 3DBT as we focus on building a
global network for City-Mix(TM). It will provide us with access to key
potential partners in this significant, growing market."

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

 Geoff Baker - Executive Director

 Shard Capital (Broker)
 Damon Heath                             0207 186 9000
 Isabella Pierre                         02071869927

 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 facilitates the manufacture of accurate tissue
replicas. Using this technology 3DBT has successfully demonstrated production
of the UK's first high quality lab-grown meat, full thickness skin and corneal
tissue from its laboratory in Newcastle.

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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