TIDMBSFA
RNS Number : 1473G
BSF Enterprise PLC
17 July 2023
17 July 2023
BSF Enterprise PLC
("BSF" or the "Company")
City-Mix (TM) Bio-Pharmaceutical Update
BSF (LSE: BSFA), (OTCQB: BSFAF), the Main Market listed biotech
company, provides a commercial update on the progress of City-Mix
(TM) , the flagship commercial product of its wholly owned
subsidiary 3D Bio Tissues (3DBT).
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 to significantly reduce operating costs; the
elimination of animal-derived serum, such that no animals suffer in
the production process; and the removal of the requirement for any
plant-based scaffold, blend or filler alternatives.
Go-to-Market Bio-Pharmaceutical Update
3DBT has made significant progress following the implementation
of the second phase of the Company's go-to-market strategy which,
in addition to the Cultured Meat and Cellular Agricultural markets,
is now addressing the Bio-Pharmaceutical industry by partnering
with those working in gene therapy, stem cells and regenerative
medicine; life science companies; and academia.
The Company has partnered with Benzol - a world leader in the
science distribution sector - to help commercialise and act as a
distributor of City-Mix (TM) across Germany. Biozol is the leading
distributor for some of the leading global pharmaceutical
companies, engaging with 14,000 companies across the industry. This
partnership forms part of the Company's strategy to use an indirect
sales model for the biotech and life sciences markets and partner
with appropriate distributors across Europe and the US.
3DBT has also engaged directly with one of the leading global
suppliers to pharmaceutical companies. The Fortune 500 company is a
world leader in providing solutions for cellular analysis and
synthetic biology. The company has currently purchased several
vials of City-Mix (TM) for evaluation to be used in its media
formulation and help reduce costs.
Meanwhile, one of the world's leading stem cell companies, which
specialises in converting stem cells into fat tissue, is also
evaluating the use of City-Mix (TM) in its production process to
help increase efficacy and reduce costs. If successful, the
partnership will provide a significant opportunity for scalable
volume
production of City-Mix (TM) .
The Company will continue to deliver its go to market strategy
and increase the licensing of City Mix(TM) through engagements with
distributors across target global markets.
Cultivated Meat Update
Since March, 3DBT has continued developing commercial
partnerships with cellular agriculture companies. Two companies
began purchasing the product in April 2023, and, after a detailed
trial evaluation which has now completed, a further company will be
purchasing City Mix (TM) to be used in its production media.
3DBT will continue to develop its partnerships programme with
established food manufacturers throughout 2023, including across
Europe, China and the US following the approval from the joint
United States Department of Agriculture ("USDA") and Food and Drug
Administration ("FDA") framework to sell their cell-cultivated
chicken to US consumers.
Update on US Listing
As announced on 25 May 2023, BSF Enterprise listed on the OTCQB
Venture Market to help improve liquidity in the stock and attract
further investment interest. Following the listing, the Company
held a successful investor roadshow in the US with both current and
prospective investors, alongside potential commercial partners. The
initial response from US investors has been positive. The Company
will continue to engage with investors in the US and will provide a
further update on progress in due course.
An Investor brief fact sheet can be viewed on the BSF website
and at the following link: bit.ly/bsf202306
Che Connon, Chief Executive of 3DBT and Managing Director of
BSF, said : "We have made significant progress in the short time
since we implemented our go to market strategy for City-Mix (TM) ,
with an increasing number of commercial partnerships and sales
opportunities successfully progressing across our direct and
in-direct global sales channels. City-Mix (TM) is a truly
differentiated product, with key advantages over traditional media
supplements and this is now being realised and evidenced across the
cultivated meat industry and by global leaders in the
pharmaceutical sector."
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
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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