CULT Food Science Corp (CSE:CULT, OTCQB:CULTF), the food tech group, has hailed the "landmark decision" by the US Food and Drug Administration (FDA) to approve cultivated meat products for sale for the first time in the United States.
The firm said it means that products made from real animal cells grown in bioreactors instead of slaughtering live animals will "soon be in the hands of consumers".
CULT Food is incubating its own cellular agriculture-derived branded products, and has made 19 investments in leading edge cellular agriculture companies across the globe that are working on products across cultivated meat, cultured dairy, seafood, chocolate, coffee, honey and other protein types.
"With the first ever approval of a cellular agriculture product by the FDA in the United States landing today, it represents a critical step towards realizing the potential of cell-based technologies to change how we eat for the better," said Lejjy Gafour, the CEO of CULT, in a statement.
READ: CULT Food Science names Because Animals founder Joshua Errett as VP of product development, aims to expand to California
"This one approval will lead to many more in the near future as companies now seek to bring their products to market with increased momentum. This is one of many critical 'firsts' we will be seeing over the next few years."
CULT Food Science aims to provide individual investors with unprecedented exposure to the world's first cellular agriculture consumer brands and its portfolio of innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies.
Contact the writer at giles@proactiveinvestors.com