CULT Food Science Corp said it has made a strategic investment into Unicorn Biotechnologies Limited, a biotech company developing a cell manufacturing system aiming to produce cheaper and more efficient animal cell products.
Cambridge, UK-based UBL’s fit-for-purpose, high-density adherent cell manufacturing system improves process development timelines by 90%, achieves a 10-fold cost reduction and lowers the labour component by 75% through automated workflows as compared to current processes, the company said.
“CULT is excited to add its investment in UBL to its cellular agriculture ecosystem. We are keenly interested in the growth trajectory of UBL based on the early prospects of its potentially game-changing new bioreactor solution,” Lejjy Gafour, chief executive officer of CULT said in a statement.
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“The cellular agriculture industry is working hard to develop economic and sustainable solutions to feed the planet’s growing population, reduce emissions and ultimately make the world a better place. I am confident that our investment in UBL is helping to achieve that goal and we look forward to collaborating with the UBL team as part of our growing ecosystem,” added Gafour.
CULT’s investment will support the ongoing development and commercialization of UBL’s solution, which is positioned to aid in the growth of the global cellular agriculture industry
The investment was part of an oversubscribed round of financing led by Acequia Capital, the company said.
Contact the author at jon.hopkins@proactiveinvestors.com