(Alliance News) - BSF Enterprise PLC on Thursday said it had successfully created proof-of-concept cultivated leather products for one of its partners.
The London-based biotech investor has received GBP90,000 in payments to date for the development of alternative leather samples.
In 2023, its subsidiary UK tissue engineering company, 3D-Bio Tissues Ltd, agreed to provide bioengineered samples of animal skin tissues to an unnamed "major multinational leather fashion company" for GBP50,000.
Following a 60-week study, 3D-Bio achieved the technical and operational requirements of the deal and is currently working towards other similar projects.
BSF Managing Director Che Connon said: "We look forward to seeing these commercial and research partnerships continue to grow as we increase our production capacity to enable further development of cultivated skin on a larger scale to meet the growing demand."
The company was also awarded GBP38,000 in grant funding from the UK government to embark on a project with the University of Northampton to create sustainable and ethical alternatives to leather.
BSF shares were down 9.6% to 5.65 pence each in London on Thursday morning.
By Elijah Dale, Alliance News reporter
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Bsf Enterprise. (BSFA)