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(Sharecast News) - Alternative proteins investor Agronomics announced a purchase of 117 shares, worth €0.2m (£0.17m), in existing portfolio company Meatable on Thursday.
The AIM-traded firm said it now holds 4,859 shares in Meatable, representing an equity ownership of 5.84% on a fully-diluted basis.
Subject to audit, the additional acquisition would allow Agronomics to carry that position in its accounts at a book value of €8.15m, representing an unrealised gain on cost of €2.95m, following the completion of Meatable's $47m (£33.46m) series A financing announced in March.
"Meatable is a Dutch cultivated meat company aiming to deliver, at scale, a new natural, cultivated meat that looks like, tastes like, and has the nutritional profile of traditional meat," the Agronomics board said in its statement.
It said its proprietary 'opti-ox' technology enables it to produce meat "rapidly, sustainably, and without harming animals".
At 1550 BST, shares in Agronomics were up 4.17% at 25p.
17 Nov 2022 16:12
Agronomics says Upside Foods wins US FDA approval for cultivated meat
(Alliance News) - Agronomics Ltd on Thursday said that its investee company Upside Foods had won US Food & Drug Administration approval for its cultivated chicken product.
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