("Agronomics" or the "Company")
Portfolio Company CellX Raises
Agronomics (ANIC:LSE), the leading listed company focused on the field of cellular agriculture, is pleased to announce that Chinese cultivated meat company,
Agronomics has invested a total of
CellX is a cellular agriculture company based in
The latest funding round will finance CellX's move towards the pilot-scale production of its cultivated meat products. Of its more than 10 cell lines, CellX has already adapted five into suspension culturing, and the leading cell line has now entered the pilot stage. In just three years, CellX has also developed multiple serum-free media and improved the yield significantly - currently scaling up to 2,000L - enabling it to drastically reduce production costs.
Earlier this year, CellX announced its plan to build
"We have backed CellX since the very beginning. The company is at the forefront of Cultivated Meat production in
"Meat is a commodity that needs to be consistently produced at a competitive cost and large scale. Each year,
Unfortunately, no company in our space has fully cracked the puzzle of production at low cost and scale, as yet. This is where CellX and
About CellX
CellX is a cellular agriculture company based in
CellX is collaborating with top universities and leading companies around the world to advance the commercialization of cultivated meat. The company is also accelerating market launch and cultivated meat approval in the APAC region
More information at www.cellx.cn
About Agronomics
Agronomics is a leading listed company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of over 20 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 and be 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
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