31 January 2025
BSF Enterprise
PLC
("BSF" or
the "Company")
Full Year Financial
Results 2024
BSF Enterprise PLC ("BSF" or the
"Company"), a leading innovator in tissue-engineered advanced
materials, is pleased to announce its audited results of the Group for the year ended 30 September
2024.
Financial and Group Highlights
·
The year has been one of significant
transformation, driven by operational achievements, strategic
fundraising, and progress across our core subsidiaries.
·
With a clear strategy, we are well-positioned to
execute our goals in 2025. Our focus will be on commercialization,
partnerships, and sustainability to drive our long-term value
creation strategy.
·
We have made substantial progress across our
subsidiaries - advancing our mission to commercialize sustainable,
tissue-engineered products.
·
Cash balance of £667,000 as at the date of this
announcement.
Portfolio Highlights
·
3DBT: We launched CytoBoost™, a bioactive media
additive targeting the biopharma downstream process, alongside the
commercial expansion of City-Mix™ to support cost-effective
production of cultivated meat.
·
Lab-Grown Leather: Our development of the world's
first 2mm-thick scaffold-free leather marked a major technical
breakthrough. Collaborations with luxury fashion brands are
underway, and we are in the planning stages for a pilot production
plant to scale commercial production.
·
Kerato: We are securing a key licensing agreement
with the University of Montreal for liquid cornea technology, a
major step towards in-situ corneal repair. Veterinary clinical
trials in 2025 and the planning of human clinical trials in 2026/27
are on the roadmap.
·
BSF Enterprise (Hong Kong): We expanded our reach
in Greater China, laying the foundation for local production of
cultivated meat. Our efforts will increase BSF's access to the
rapidly growing demand for sustainable protein in Asia.
Post Period End Highlights
·
Raised £500,000 in an oversubscribed placement of
new shares in December 2024. The funds will
support:
- progress towards the commercialisation of CytoBoost™
(3DBT)
- developing plans for a Pilot production of lab-grown leather
(LGL)
- veterinary trials and clinical preparation (Kerato)
- market
expansion in Greater China (BSF Hong Kong)
·
Signed a Strategic Collaboration with Sartorius to
Drive Cost-Effective and Sustainable Biotech Solutions
For
further enquiries, please visit www.bsfenterprise.com or
contact:
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BSF Enterprise PLC
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Geoff Baker - Executive
Director
Che Connon - CEO &
Director
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Shard Capital (Broker)
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Damon Heath
Isabella Pierre
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0207 186 9000
0207 186 9927
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About BSF
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 is as follows:
3DBT A pioneering UK-based
tissue engineering company that has developed scaffold-free tissue
production processes as well as leading on the commercial use of
macromolecular crowders to transform cell culture.
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 focussing on
commercialising technologies for corneal repair with veterinary
trials starting 2025 .
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 100% owned company, using technology developed within
3DBT, successfully produced the UK's first high-quality cultivated
meat. Currently 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.
