Bsf Enterprise (LSE:BSFA)
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RNS Number : 6769L

BSF Enterprise PLC

17 May 2022

17 May 2022

BSF Enterprise PLC

("BSF" or "the Company")

Admission to Trading and First Day of Dealings

Following the successful reverse takeover of 3D Bio-Tissues Limited ("3DBT"), a tissue engineering business based in Newcastle, UK, the Company announces admission of the enlarged group to the standard segment of the Official List and initiation of trading on the London Stock Exchange's Main Market at 8.00 a.m. today under the ticker ' BSFA ' ("Admission"). The Admission follows a placing which raised GBP1.75m at a placing price of 7.37 pence per share.

About 3DBT

-- A tissue engineering company with patent-protected IP that is already producing human corneas that could help restore vision to millions of people

-- It has three strands of IP, each with a different sector focus, development and revenue timeline:

-- Serum-free media: 3DBT's City-mix(TM) is an animal-free cell growth agent for culturing skin, muscle & fat cells which will be used for lab-grown meat and leather production

-- Skin Care Products: Lipopeptide Etsyl(TM) actively increases collagen production in human skin cells which can be used in cosmetic and skin care products

-- Tissue Templating Application: using a platform to grow different tissues with natural structure & function such as corneas, lab-grown meat and leather & human skin substitutes

-- Building on its success to date, 3DBT is focused on producing the UK's first 100% lab-grown meat in the next 12 months

-- The funds raised will be used to expand the team and to market the Company's animal-free cell growth agent (serum free media) and cosmetics

-- Strong management team with over 20 years' experience in extracellular matrix biology and tissue engineering - globally recognised experts in molecular biology

About BSF

-- Aim to accelerate the tissue engineering sector, which includes the growth of cell-laden structures including production of high quality, lab-grown meat and leather

-- Experienced Board with a clear strategy - acquire, develop and license technology in cultured animal tissue and related products

-- Operating in fast growing and transformative markets - 410% CAGR (2021 to 2030) for lab-grown meat; 12.7m people currently awaiting cornea transplant.

Geoff Baker, Executive Director of BSF, commented:

"Our successful acquisition of 3DBT provides investors with exposure to an extremely exciting suite of IP which can be used for multiple applications across numerous fast-growing and transformative markets, including the lab grown meat and leather markets, as well as skin care.

"The skilled 3DBT team has already produced the world's first human corneas, which is a fantastic feat given that 12.7m people worldwide are currently awaiting a cornea transplant.

"Together, we are now focused on building on this success, creating value by executing on the different verticals that our technology can be applied to. The market for lab-grown meat - which is expected to grow at a CAGR of 410% to 2030 - is just one of these, and our aim to produce the UK's first cut of cultured meat in the next 12 months is expected to open doors to potential customers in the food supply chain. Importantly, demand for high-quality alternative protein sources is high, driven by the critical need to reduce global greenhouse gases, for which livestock farming is responsible for a staggering 24%.

"Our technology has the potential to improve the lives of millions of people around the world, and we would like to take this opportunity to thank our investors for their support in delivering this exciting milestone."

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                              020 3757 6882 
 Elisabeth Cowell                         BSF@secnewgate.co.uk 
 George Esmond 
 

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.

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(END) Dow Jones Newswires

May 17, 2022 11:02 ET (15:02 GMT)