CULT Food Science Corp announced that its subsidiary Biftek Inc has reported significant progress in the commercialization and viability of its novel growth medium supplement product lines.
Biftek, CULT’s portfolio company, recently arranged for the transport of an inaugural sample that will function as a cornerstone component of a commercially-focused collaboration with a meat company based in Singapore.
"This is a critical step forward for Biftek toward validating novel formulations and achieving commercialization on a global scale,” said Paul Burridge, advisor to CULT.
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He added: “Biftek's ongoing contributions as a leading innovator and thought leader in the growth medium vertical are indicative of CULT's ability to seek out and partner with leading CellAg companies, both domestically and abroad."
Biftek's novel formulation, with the trade name ‘Lyophilized Biftek Growth Medium Supplement’, has been scientifically engineered to be shipped globally without the need for cold chain logistics and with no variation amongst batches, ensuring consistent quality across batches.
The Vancouver, British Columbia-based company said that growth mediums are an important pillar for the mass adoption of cultured meat globally, which are critical to helping achieve material cost reductions, improved efficiencies, and consistent food products.
"The current challenges within the cultivated meat ecosystem are fragmented. We feel that the most important one is to lower the production cost of cultivated meat products and we have developed several potential solutions to address this issue,” said Kerem Erikci, CEO of Biftek.
Erikci added that growth medium innovations will be the most powerful tools to secure mass adoption of lab-grown foods.
Founded in 2018 and headquartered in Ankara, Turkey, Biftek produces an animal-free, non-GMO, natural growth medium supplement to make cultured meat more affordable. A business-to-business company, Biftek utilizes a novel culture medium supplement formula to grow muscle stem cells.
CULT Food Science is an innovative investment platform with an exclusive focus on clean, lab-grown food that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis.
Contact Ritika at ritika@proactiveinvestors.com