BSF Enterprise PLC Lab-Grown Leather Update and Innovation Award Win (3377Z)
May 15 2023 - 1:00AM
UK Regulatory
TIDMBSFA
RNS Number : 3377Z
BSF Enterprise PLC
15 May 2023
15 May 2023
BSF Enterprise PLC
("BSF" or the "Company")
Lab-Grown Leather Update
and
Innovation Award Win
Lab-Grown Leather
BSF (LSE: BSFA), a company focused on unlocking the next
generation of biotech solutions and the development of lab-grown
tissues, provides an update from its 100% owned subsidiary, 3D
Bio-Tissues Ltd ("3DBT"), on progress with its development of
Lab-Grown Leather products.
Following the successful expansion of its laboratory and
incubator capacity, 3DBT has bio-engineered samples of animal skin
tissue, measuring up to 10 by 10 cm in size and between 0.5 mm to 1
mm in thickness. The production of tissues with such thickness
represents an important milestone in the industry and the progress
being made is testament to the accumulative knowledge being secured
by the team as it successfully advances its tissue engineering
activities. Various properties of the samples will be analysed to
evaluate their potential as a substitute starting material for
traditional leather products. The global leather goods market was
valued at GBP$253 billion in 2023 and is expected to grow to $405
billion by 2030, a CAGR of 6.6%*.
3DBT cultivates these tissues using 3DBT's patented City-Mix(TM)
supplement, a culture media booster that provides numerous
advantages over traditional media used in cellular agriculture.
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.
Additionally, City-Mix(TM) removes the need for conventional
plant-based scaffolds, blends and fillers, as have been universally
adopted by the industry to date to ensure structural integrity of
cultivated tissue products. Therefore, similarly to the meat
previously produced, the skin samples are 100% animal tissue.
BSF has engaged with a number of companies within the leather
industry in the UK and abroad regarding potential Proof of Concept
(PoC) engagements to establish the suitability of the skin product
as a sustainable, ethical alternative to traditional leather goods.
Once established, BSF will seek to develop plans to scale-up
production of 3DBT animal skin products.
Innovation Award Win
3DBT was voted 'University Spinout of the Year' at the North
East Innovation Awards ceremony, a competition organised by the
Innovation SuperNetwork on 10 May 2023. The award recognises
companies spun out of universities that are making an impact in
terms of innovation, ground-breaking research or furthering a
specific sector or technology. 3DBT was recognised for its
lab-grown animal tissue products, which were described as an
inspired, transformative innovation with world-leading levels of
functionality.
Estelle Blanks, CEO at Innovation SuperNetwork who delivered the
event, said: "The businesses shortlisted for the awards are
innovating at the forefront of their sectors to develop impactful
ideas to help us to tackle some of the most pressing challenges
that we face in the region. The Awards help us to really celebrate
organisations and innovators from across the North East and the
winners in each category demonstrate the range of ideas flourishing
right here in our region. I extend my congratulations to all of
them and eagerly anticipate their future achievements."
Che Connon, Chief Executive of 3DBT, said: "We are delighted
with the excellent progress we are making in the development of
lab-grown leather products, which represents a substantial market
opportunity. The innovative work we are doing in this field and in
the development of other cultivated tissue products is being
increasingly recognised by the community, including us winning the
"Best University Spinout" award at the North East Innovation Awards
earlier this week."
* Grand View Research
BSF Enterprise PLC Via SEC Newgate below
Che Connon - Executive Director
Geoff Baker - Non-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
----------------------
For further enquiries, please visit 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 is already producing human
corneas that will 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 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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