REG - BSF Enterprise PLC - Operational Update

BSF EnterpriseAnnouncement

18/07/2022 07:00

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RNS Number : 7237S  BSF Enterprise PLC  18 July 2022

18 July 2022

BSF Enterprise PLC

("BSF" or the "Company")

Operational Update

BSF Enterprise, an investment company focused on unlocking the next generation
of biotech solutions and the development of lab-grown tissues, is pleased to
provide an update on progress made since its readmission to the LSE and
successful acquisition of 3D Bio-Tissues Limited ('3DBT'), a tissue
engineering business based in Newcastle, UK.

 

Highlights

 

·     3DBT has recently more than doubled its lab production capacity to
2,400 sq ft.

·     This provides the capacity to produce 1,000 litres per month of
3DBT's City-mix™, an animal-free cell growth agent for culturing skin,
muscle & fat cells for lab-grown meat and leather production.

·     The lab facility will also enable 3DBT to produce additional lab
grown meat and leather to showcase to potential customers such as
manufacturers, distributors and wholesalers that are looking to commercialise
lab-grown meat and leather for the mass market.

·     3DBT's existing patent applications are progressing well, having
reached the national phase for a range of countries, and two new International
Patent Applications have been filed for City-Mix™ relating to the
application of the technology to produce skin, corneas, and meat.

·     The Company remains on track to produce and unveil the UK's first
100% lab-grown meat this year where Lab-grown meat cell types (fat and muscle)
are ready for inclusion in the tissue production system.

·     The Board continues to evaluate potential acquisition opportunities
in line with its strategy to acquire a suite of technologies that underpins
the development of tissue templating for corneas, meat and leather.

 

Geoff Baker, Director of BSF, commented:

 

"Since our readmission on the London Stock Exchange, the 3D Bio-Tissues team
has been busy expanding its production facility and progressing its patent
applications. This means we are on track to produce our target production for
City-mix™ and the UK's first cut of 100% lab-grown meat.

 

"We have also advanced discussions with potential M&A candidates, in line
with our ambition to be a leading provider of technologies for the delivery of
lab-grown meat, leather and corneas at scale. We will not take on
manufacturing risk, instead selling our technologies to manufacturers,
distributors and wholesalers, and discussions with these parties are
developing well. This is an exciting time, and we are pleased with the
progress made to date. We continue our business development recruitment
strategy and are well placed to deliver a range of value-enhancing milestones
in the coming months."

 

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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