Last checked at 15 Mar 2023 07:00
15 March 2023
BSF Enterprise PLC
("BSF" or the "Company")
AGM Statement
The Annual General Meeting ("AGM") of BSF Enterprise (BSF (LSE: BSFA), the Main Market listed biotech company and the owner of pioneering UK-based clinical and cellular agriculture company 3D Bio-Tissues, will hold its AGM today at 10 a.m. where the Company's Managing Director Che Connon will provide the following statement:
"The Board is delighted to welcome you to our AGM. The successful reverse takeover of 3D Bio-Tissues (3DBT) in 2022 enabled us to rapidly make our mark on the cellular agriculture industry.
Achievements during the year ending 30 September 2022 include:
· The expansion of our laboratory space in Newcastle
· The expansion of our technical team and recruitment of a Business Development Director and Chief Financial Officer
· Significant advancement of our R&D activities, culminating in the production of successful prototypes of lab-grown meat fillets
· The launch of our Go-to-Market strategy, and strong engagement with potential customers in the Cellular Agriculture industry
Post period end, we have built on this momentum, with achievements including:
· Successfully produced and consumed the UK's first full-scale fillet of cultivated meat. This was a major scientific breakthrough made from 100% meat with no animals suffering in its production. This was achieved through the use of our platform process, which eliminates the need for plant-based scaffolds, with tissue growth being accelerated by the use of our proprietary City-mix™ media, which is food safe and animal serum free.
· The receipt of grants from leading food innovation organisations to build upon the current capabilities of our proprietary serum-free media supplement, City-mix™
· 22 City-mix™product evaluations underway as at 6 March 2023
· Application to trade on the OTCQB Venture Market in the United States
The Directors believe a second year of similar growth and development lies ahead. We are excited at the prospects for 3DBT in both the near and mid-term as we seek to grow the business both through our Go To Market strategy and expansion into new markets. We are forging ahead in producing our 100% meat showcase products, which will be presented, at a public event in the coming months.
The market opportunity also underpins our positive outlook. The cultivated meat market alone is expected to grow at a CAGR of 410% to 2030, with a range of verticals into which we can supply City-mix™ to help serve high-growth markets. With an imminent listing on the OTCQB Venture Market in the United States, we will expand our reach to a broader pool of investors and create the potential for greater liquidity in the Company's shares.
We would like to thank our investors for their support and look forward to keeping the market updated with our progress."
For further enquiries, please visit www.bsfenterprise.com or contact:
BSF Enterprise PLC |
Via SEC Newgate below |
Geoff Baker - Non-Executive Director Che Connon - Executive Director | |
Shard Capital (Broker) | |
Damon Heath | 0203 971 7000 |
SEC Newgate (Financial Communications) | |
Bob Huxford Elisabeth Cowell George Esmond | 020 3757 6882 BSF@secnewgate.co.uk |
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.