(Alliance News) - BSF Enterprise PLC on Thursday said it will collaborate with Ivy Farm Technologies Ltd to help fundraise, launch and scale its cultivated meat plans in China.
Shares in BSF Enterprises rose 8.4% to 8.40 pence each in London on Thursday afternoon.
BSF is a London-based biotechnology investor, while Ivy Farm is an Oxford-based cultured meat manufacturer.
The former said that its commercial agreement with Ivy Farm will involve "generating and progressing investment opportunities to support the company's fundraising ambitions."
BSF subsidiary company, 3DBT, is also working with Ivy Farm to test its City Mix serum-free media within its products with the goal of reducing the cost of cultivated meat production in Asia.
BSF Chief Executive Officer Che Connon said: "Today's announcement represents the start of a strong commercial and technical working relationship between BSF Enterprise and Ivy Farm. The cultivated meat market is front and centre for China in its blueprint for food security as part of its five-year agricultural plan. We look forward to helping Ivy Farm enter the China market through securing investment and working with key manufacturers to develop a variety of cultivated meat products that can serve a significant, growing market."
By Sabrina Penty, Alliance News reporter
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Bsf Enterprise. (BSFA)