REG - BSF Enterprise PLC - Portfolio Update

BSF EnterpriseAnnouncement

26/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240926:nRSZ7060Fa&default-theme=true

RNS Number : 7060F  BSF Enterprise PLC  26 September 2024

26 September 2024

 

 

BSF Enterprise PLC

 

Portfolio Update

 

BSF Enterprise PLC (BSF), the parent to a portfolio of innovative subsidiary
companies developing cell-based tissue engineering solutions to deliver
sustainable outcomes across a variety of sectors, is pleased to provide the
following portfolio update.

 

●     Lab Grown Leather (LGL): Revolutionising the leather industry with
the world's first and only scaffold-free lab-grown leather, 3D Bio Tissues
(3DBT), on behalf of LGL, is producing leather that is 100% pure animal
tissue, cultivated entirely in a lab. Building on the team's success in
producing an animal skin tissue measuring up to 10 by 10 cm in size and over 2
mm in thickness, LGL has now developed a codified 'Standard Operating
Procedure' that can be transferred, translated and adopted by other companies
to develop lab-grown leather.  The 'Standard Operating Procedure' will be
applied to the development of pilot-scale manufacturing operations over the
next 12 months. This will enhance scale-up processes as LGL continues to
provide samples to support partners and potential partners in the fashion
industry.

 

●     Kerato Ltd:  Established to provide novel solutions for the
treatment of corneal tissue damage, Kerato has developed another commercial
product called the LiQD Cornea device. The injectable LiQD Cornea forms a
self-sealing gel upon contact with corneal tissue that suppresses inflammation
and facilitates damage repair through the remodelling of healthy tissue.
Veterinary trials will commence in 2024 with a view to launching the LiQD
Cornea veterinary device in 2026. We aim to commence the first-in-human
clinical trials of the implantable medical device in 2026, generating evidence
to support regulatory approvals in our first target markets and market launch
in 2028.

 

●    3D Bio Tissues: 3DBT is currently in the process of launching its
new CytoBoost(TM) media additive, designed to facilitate cell culture
processes and the implementation of animal free media for the biopharma
industry. Using the same technology as City-Mix(TM), CytoBoost(TM) can be used
for different applications at significantly higher price points. Commercial
scale of City-Mix(TM) is moving to an OEM model that significantly reduces
costs of production, packaging and shipment whilst ensuring that the large
volumes required by the cultivated meat companies can be guaranteed. This also
frees up in-house production capacity for CytoBoost(TM).

 

●     Cultivated Meat Technologies (CMT): The Company and its Joint
Venture (JV) partner CellulaRevolution Ltd (CellRev) have together agreed the
commercial strategy for CMT as they finalise the legal terms of their JV,
expected in the coming weeks. During the first two years of operation, CMT
will develop a technology platform to enable commercial partners to
manufacture their range of cultivated meat products to take to market. It will
seek to secure partnerships with major UK & European food processors,
producers and retailers as well as government-funded food security
initiatives.

 

●     BSF Hong Kong (Ivy Farm): The Company is successfully operating
out of its HK office this year, accessing potential strategic partners in the
largest cultivated meat and leather market in the world. The strategic
partnership with Ivy Farm continues to grow and our HK office is helping them
source HK and Chinese capital to build a cultivated meat facility in the
region.

 

 

Che Connon, Managing Director of BSF Enterprise and CEO of 3DBT, commented:
"BSF's core strategy is to drive the development of lab-grown tissues through
acquiring, investing in, or developing joint ventures with the most promising
companies from across the industry. We are making strong progress across our
portfolio of companies, delivering new initiatives which will enable them to
flourish and collaborate and thereby accelerate their progress, potential and
time to market. This strategy is evident in Lab-Grown Leather, where we
continue to experience excellent feedback from industry, and we anticipate the
Standard Operating Procedure to enable us to make the delivery of materials
much more efficient as we focus on expanding our development partnerships in
the fashion industry."

 

For further enquiries, please visit 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

 

About BSF Enterprise PLC

BSF Enterprise PLC (BSF) is the parent to a portfolio of innovative subsidiary
companies focused on developing and commercialising cell-based tissue
engineering solutions to deliver sustainable outcomes across a variety of
sectors. Its portfolio of subsidiaries, of which it owns 100% with the
exception of 50% owned CMT, is as follows:

 

3DBT A pioneering UK-based tissue engineering company that successfully
produced the UK's first high-quality cultivated meat.

 

Lab-Grown Leather Ltd A company focused on the customer driven development of
cultivated skin technology to produce sustainable leather.

 

Kerato Ltd A tissue engineering company with patent-protected IP that is
already producing human corneas for testing to help restore vision to millions
of people.

 

BSF Enterprise (Hong Kong) Limited A company established to actively support
commercialisation of BSF's technology in China and Asia.

 

Cultured Meat Technologies (CMT) A 50% owned joint venture with
CellulaRevolution Ltd (CellRev), focused on providing the market with the
premier platform for manufacturing cultivated meat in a scalable and
cost-competitive manner.

 

BSF's core strategy is to acquire, invest in, or develop joint ventures with,
the most promising companies from across the industry. In doing so BSF intends
to create an environment in which its portfolio of companies can flourish and
collaborate, thereby accelerating their progress, potential and time to
market.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUFLFIAALIEFIS