Agronomics Limited IsraFirst Regulatory Approval for Cultivated Beef
18 Gennaio 2024 - 8:00AM
RNS Non-Regulatory
TIDMANIC
Agronomics Limited
18 January 2024
18 January 2024
Agronomics Ltd
("Agronomics" or the "Company")
Israel Awards the World's First Regulatory Approval for
Cultivated Beef
Agronomics (LON: ANIC), a leading listed company in cellular
agriculture, is pleased to announce that the Israeli Ministry of
Health (IMOH) has granted regulatory approval for the world's first
commercial sale of cultivated beef.
Agronomics would like to congratulate Aleph Farms on becoming
the first company in the world to gain regulatory approval for its
cultivated beef product after the IMOH issued a 'no questions'
letter, which allows the company to commercialise its products in
Israel. Aleph Farms has also filed for regulatory approval in
Singapore, Switzerland, the UK and the US, and is advancing its
applications in other markets.
Agronomics is aware of multiple companies, including those
within its portfolio, that are expecting regulatory approvals for
cultivated meat and seafood products across several markets.
Meanwhile, Vow Food is in the middle of a consultation process
after its cultured quail was cleared as safe to eat by Food
Standards Australia and New Zealand in December 2023.
These announcements follow Upside Foods and Good Meat, which
received regulatory approval for their cultivated chicken products
in the US last year.
Jim Mellon, Executive Chairman of Agronomics commented:
"This approval is another significant step forward for our
industry and shows the commitment among an increasing number of
jurisdictions to find more sustainable production methods to meet
the increasing global demand for protein. We look forward to seeing
some of Agronomics' portfolio companies achieving this significant
milestone in the near future."
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of 24 companies in this rapidly
advancing sector. It seeks to secure minority stakes in companies
owning technologies with defensible intellectual property that
offer new ways of producing food and materials with a focus on
products historically derived from animals. These technologies are
driving a major disruption in agriculture, offering solutions to
improve sustainability, as well as addressing human health, animal
welfare and environmental damage. This disruption will decouple
supply chains from the environment and animals, as well as being
fundamental to feeding the world's expanding population. A full
list of Agronomics' portfolio companies is available at
https://agronomics.im/ .
About Cellular Agriculture
Cellular Agriculture is the production of agriculture products
directly from cells, as opposed to raising an animal for slaughter,
or growing crops. This encompasses cell culture to produce
cultivated meat and materials, and fermentation processes that
harness a combination of molecular biology, synthetic biology,
tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.
Over the coming decades, the source of the world's food supply
traditionally derived from conventional agriculture is going to
change dramatically. We have already witnessed the first wave of
this shift with the consumer adoption of plant-based alternative
proteins but today, we are on the cusp of an even bigger wave of
change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists claims that
if we maintain existing animal protein consumption patterns, then
we will not meet the Paris Agreement's goal of limiting warming to
1.5 .
AT Kearney, a global consultancy firm, projects that cultivated
meat's market share will reach 35% by 2040. This combined with the
Good Food Institute's estimate that a US $1.8 trillion investment
will be required in order to produce just 10% of the world's
protein using this technology, means that we are on the cusp of a
multi-decade flow of capital to build out manufacturing facilities.
Funding in the field of cellular agriculture is accelerating,
however still less than US$ 5 billion has been invested worldwide
since the industry's inception in 2016.
For further information please contact:
Agronomics Beaumont Canaccord Cavendish Peterhouse SEC Newgate
Limited Cornish Genuity Securities Capital
Limited Limited Plc Limited
The Company Nomad Joint Broker Joint Joint Public Relations
Broker Broker
========== ============== ============= ============= ========================
Jim Mellon Roland Andrew Giles Lucy Ed Orlebar
Denham Eke Cornish Potts Balleny Williams Alistair Walker
James Harry Pardoe Michael Charles
Biddle Alex Aylen Johnson Goodfellow
(Head of
Equities)
========== ============== ============= ============= ========================
+44 (0) 20 7930
0777
+44 (0) 1624 +44 (0) +44 (0) +44 +44 (0) +44 (0) 7738
639396 207 628 207 523 (0) 207 207 469 724 630
info@agronomics.im 3396 8000 397 8900 0936 agronomics@tbcardew.com
========== ============== ============= ============= ========================
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