REG - BSF Enterprise PLC - Proposed Equity Fundraise - Strategic Direction

BSF EnterpriseAnnouncement

01/12/2025 07:02

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RNS Number : 5758J  BSF Enterprise PLC  01 December 2025

1 December 2025

 

BSF Enterprise PLC

(BSF or the Company)

 

     Proposed Equity Fundraise - Strategic Direction

 

BSF Enterprise PLC (LSE: BSFA), a leading innovator in tissue-engineered
materials ("BSF" or the "Company"), is pleased to provide further information
on the expected strategic direction from the proceeds of its proposed £15
million equity fundraise, the technical details of which were announced in an
accompanying RNS previously released at 07:00 today.

 

The investment by Blackstone Mercantile Group represents a significant
milestone for BSF in the execution of its growth strategy, providing the
capital required to accelerate the commercialisation of its core cutting-edge
technologies in lab-grown leather, corneal repair, and culture media
supplements for cells and engineered tissues.

 

Lab-Grown Leather

The funding will support the development of Lab-Grown Leather (LGL)
technology. This includes the commercial launch of Elemental X™, a
proprietary platform which unlocks new frontiers in bio-based materials by
integrating bioengineered cellular structures for cutting-edge leather
applications. The first demonstration of the platform will be at an event
planned for 2026, in which LGL, in partnership with the branding firm VML and
The Organoid Company, will showcase the world's first T-Rex leather,
incorporating uniquely defined DNA derived from the prehistoric animal.

 

The funds will also enable LGL to bring its first revenue-generating products
to market, targeting the ultra-luxury market. In addition, they will underpin
direct sales to design-led partners. The investment will be used to deepen and
expand commercial partnerships, strengthen LGL's intellectual property
portfolio, and support the recruitment and retention of key scientific,
commercial, and operational talent.

 

Kerato

Circa £0.5 million of the funds will be deployed by the corneal repair
subsidiary company, Kerato, alongside a grant from the Canadian government, to
undertake a groundbreaking liquid cornea trial. The grant will provide 50% of
the required funding for the veterinary trial, and Kerato expects to begin
collecting animal data in early 2026. The grant also supports the advancement
of the medical device and early engagement with regulators. Successful
completion of the grant will play a key role in Kerato achieving validation
and de-risking of its liquid corneal solution, such that it can be launched
onto the veterinary market.

 

Kerato has already made significant operational strides in 2025, including
processing and implementing an ISO-13485 quality management system necessary
for the supply of medical devices. Its Biosynthetic product can provide an
injectable, biosynthetic cornea designed as a single-use, self-sealing gel
that mimics the performance of traditional donor grafts. By facilitating
tissue remodelling, suppressing inflammation, and enhancing re-epithelization,
the next-generation device offers a transformative alternative to corneal
transplants.

 

 

3D Bio-Tissues

The funding will support 3D Bio-Tissues' (3DBT) continued expansion of its
food-safe cell culture media components pipeline, including the marketing and
sales of its recently launched  CytoBoost REVIVE. This is a simple media
additive, which can help restore biological materials from low-temperature
storage and has shown the ability to improve cell revival post-cryostorage by
up to 100%, positioning 3DBT with a unique product within the
multi-million-dollar cryopreservation market, to support biopharma and
biomedical research applications with enhanced cell viability and performance.
The funding will also support and expand sales and marketing of the existing
City-Mix™ and the remainder of CytoBoost media supplement product
range.

 

 

M&A Strategy

BSF is actively engaged in discussions with target companies whose
technologies and capabilities are highly complementary to its existing
portfolio. The Company views strategic acquisitions and joint ventures as a
key lever to accelerate innovation, broaden its technological footprint, and
enhance its commercial pipeline. Proceeds from the fundraise may be allocated
to support these transactions together with scrip-for-scrip acquisitions as
the value of the Company's shares grow, enabling BSF to integrate promising
platforms that align with its mission to lead in the development and
commercialisation of next-generation bioengineered materials.

 

Che Connon, CEO, commented: "We are hugely excited by the potential Blackstone
Mercantile Group's investment provides to BSF's subsidiary companies. The
funds will accelerate the commercial and technological roadmaps of LGL, Kerato
and 3DBT and will support their further independent fundraising activities
during 2026. In addition, they provide the resources to allow BSF to deliver
against its strategic goals to acquire, invest in, or enter joint ventures
with promising complementary companies to expedite their development and
time-to-market.  We look to the future with renewed confidence and
enthusiasm."

 

 

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

 BSF Enterprise PLC
 Geoff Baker - Executive Director

 Che Connon - CEO & Director

 Shard Capital (Broker)
 Damon Heath                       0207 186 9000

 Isabella Pierre                   0207 186 9927

 

 

 

 

ISIN of the Ordinary Shares is GB00BHNBDQ51

SEDOL Code is BHNBDQ5.

 

About BSF Enterprise PLC

BSF Enterprise PLC (BSF) develops and commercialises cutting-edge
tissue-engineered solutions, including lab-grown leather, cultivated meat, and
corneal repair technologies. By leveraging its proprietary scaffold-free
platform, BSF aims to deliver sustainable alternatives to traditional
materials and meet global demand for environmentally responsible innovations.

 

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