Newsworthy

Finnish based company, Solar Foods, completed a Series A financing round raising 15 million Euros ($17,740,200 USD). The round was led by Fazer Group with additional Investors including Agronomics (ANIC), Bridford Investments and CPT Capital. https://cellbased.link/zcx 

Background: Solar Foods is using a single cell protein and fermentation technology to produce protein from chemosynthetic bacteria → the bacteria “feed” on CO2 and hydrogen gas. Solar Foods bacteria assimilate CO2 directly as a carbon source through chemosynthesis.

• Commercialized Solein protein would be the first bacterial protein product meant for human consumption. 

In other alt protein fermentation news: 

Boulder Colorado based Bond Pet Foods unveiled a prototype of animal free cultured chicken meat protein for pet food applications.

→ Not exactly cell based meat, but Bond Pet Foods used a sample of chicken blood to identify the optimal protein sequence for animal nutrition. The genetic code is used in conjunction with yeast to create a fermentation process to essentially “brew” chicken based proteins for a more sustainable pet food line. https://cellbased.link/51x

• The Milestone was also marked with a bridge investment from Investors including Lever VC and KBW Ventures.

IntegriCulture Japanese Government Grant

Japanese based cell based meat company, IntegriCulture received a $2.2 million government grant from the Japanese Government New Energy and Industrial Technology Development Organization (NEDO). https://cellbased.link/intgov 

The grant is intended to be used by IntegriCulture for building a commercial production facility of cell ag products. Based on our understanding of cell based meat, $2.2M is a small step towards building out a commercialized cell ag production facility so this capital may be better suited for pilot scale production. The news comes shortly after IntegriCulture raised $7.4 million Series A in June so it seems the company is slowly but surely moving towards some sort of small scale product launch 2021-2022 (thinking foie gras). 

2019 Review

A Modest Beginning

“Meat sludge” is the most basic and unstructured output of cell based meat. What about flavor, shape, and texture? Well, that’s where things get difficult. 

2019 may have marked a realization from cell based meat companies to start with “hybrid lab grown meat” products blended with plant based fats and proteins. This is likely what we’ll see in the marketplace prior to a “100% cell based” product.

• JUST is set for a small scale launch of cell based chicken nuggets in 2020. The nuggets will primarily be cell based chicken blended with a small amount of JUST proprietary mung bean protein isolate. 
• Future Meat Technologies announced plans to launch a hybrid product that blends plant proteins with lab-grown fat in 2021. 

A Controversial Product Receives the Cell Based Treatment

🦆 The pricey and contentious French delicacy, Foie Gras, has an inherently unstructured texture making the product a good fit for cell based replication. 

• Integriculture successfully demoed their cell based foie gras with plans to launch in restaurants in 2021 and in retails stores in 2023. https://cellbased.link/mrw

Total Tissue Engineering Investments to Date: 

$352,146,037

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2020 Outlook

🥩 Can you GO from sludge to structured?

I’m expecting to see more structured meat prototypes in the upcoming year with full cuts of meat and fish. 2019 ended with hype from companies raising capital and preparing for structured meat prototypes in 2020.

• Meatable completed 2019 with a $10 million funding round and announced an anticipated fully structured pork chop prototype for the end of 2020. https://cellbased.link/j34
• BlueNalu completed 2019 with a successful demo of a whole muscle prototype of Yellowtail Amberjack. https://cellbased.link/7y3
• Aleph Farms completed a $12 million funding round in 2019 and will focus on developing lab grown steak steak using technology that enables the growth of four types of animal cells including muscle fibers, blood vessels, fat, and connective tissue to create whole meat cuts. http://cellbased.link/a7

Overcoming (Technical) Challenges 

Cell Culture Media (reminder: this is what feeds the cells)

Almost all 33 lab grown meat companies around the globe stated they are working towards the development of a cell culture media that does not include fetal bovine serum. The question remains: Which companies will develop a cell culture medium that:

• works efficiently 
• allows for viable cell proliferation 
• can be produced at a cost that is low enough to enable eventual price parity with conventional meat

Scaffolding (reminder: used to create structure)

From corn starch fibers to grass, we saw a lot of research at the University level in bio-degradable scaffolding. Perhaps the most compelling came out of Harvard University where researchers discovered a process called Immersion Rotary Jet-Spinning, which can be applied to spin plant fibers to create a viable scaffold structure for meat. https://cellbased.link/c4301

Bioprinting

In 2019, Israeli based company, Aleph Farms joined forces with Russian based 3D Bioprinting Solutions to successfully print lab grown meat on board the Russian segment of the International Space Station. The bio-printer uses magnetic force to aggregate the cells into small scale tissues. We are expecting to see more crossover within the 3D printing industry and lab grown meat as bio-printing technology becomes part of the production process for more robust, thicker cuts of structured meat like steaks. https://cellbased.link/y0o

Cell Proliferation

Research out of Tufts University found a potential benefit of adding myoglobin (a heme molecule) to cell culture media for increased cell proliferation. Myoglobin could be produced through recombinant protein technology, which may be a necessary step in the creation of cell culture media. https://cellbased.link/5dd

Waste Build Up

Japan based Integriculture, proposed a solution to the problem of metabolic waste build-up that can occur within the closed system of cellular agriculture. Integriculture’s patented CulNet technology, is a system of three tanks with three different cell types simulating an environment that mimics the interaction between cells as they would behave in the animal’s body. Integriculture’s CulNet system provides an advantage by recycling serum and reducing waste build up as one tissue produces waste that another type of tissue can re-uptake and reuse as food.

USA Regulation @ a Standstill

In 2019, The U.S. Department of Agriculture’s (USDA) Food Safety and Inspection Service (FSIS) and the U.S. Department of Health and Human Services’ (HHS) Food and Drug Administration (FDA) announced a formal agreement to share joint regulatory oversight of cell based meat. According to the agreement, "FDA oversees cell collection, cell banks, and cell growth and differentiation. A transition from FDA to FSIS oversight will occur during the cell harvest stage. FSIS will oversee the production and labeling of human food products derived from the cells of livestock and poultry." http://cellbased.link/usda-93dcf

Meanwhile in Missouri, if you write meat on a product sold in Missouri that is not derived from livestock or poultry you could be looking at up to one year in jail, a fine up to $2,000, or both. The law will not apply if there is a prominent statement on the front of the package that the product is “plant-based,” “veggie,” “lab-grown,” “lab-created,” or a comparable qualifier; AND a prominent statement on the package that the product is “made from plants,” “grown in a lab,” or a comparable disclosure." Other states are following suit, but food safety and labeling are regulated at the federal level, so this is mostly noise at this time.

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The following is a comprehensive up to the minute list of public companies producing cell based meat inputs or investing in cell based meat production.

🧬Agilent Technologies (USA): Gene synthesis used in cellular fermentation and protein expression.
💲A (NYSE)
🔗www.Agilent.com

🧬Agronomics (UK): Pure play cell based meat and food publicly traded investor
💲 ANIC:LN (LSE)
Company Profile

👃👅Amyris: Acellular cultured flavors, fragrances and Cannabidiol (CBD).
💲AMRS (NASDAQ)
🔗https://amyris.com
Company Profile

Archer Daniels Midland (USA):ADM (NYSE)
💲Participated in $18.2 million financing of Geltor.
🤝Joint development agreement with Perfect Day Foods to develop and commercialize animal-free dairy proteins.
🔗https://www.adm.com
Company Profile

🐄Bell Food Group (SWITZERLAND): BELL (SWX)
💲Participated in $8.8 million financing of Mosa Meat.
🔗https://www.bellfoodgroup.com/en
Company Profile

🧬Bioneer Corp (KOREA): Gene synthesis used in cellular fermentation and protein expression.
💲064550 (KOSDAQ)
🔗http://www.bioneer.com
Company Profile

🧬Bio-Rad (USA): Gene synthesis used in cellular fermentation and protein expression.
💲BIO (NYSE)
🔗www.bio-rad.com

BP Ventures (USA): BP (NYSE)
💲Participated in $40 million financing of Synthetic Genomics (Gene synthesis used in cellular fermentation and protein expression.)
🔗bp.com

🧬Brooks Automation (USA): Acquired Gene synthesis company GeneWiz.
💲BRKS (NASDAQ)
🔗https://www.brooks.com

🌱Cronos Group (CA): Partnership with Ginkgo Bioworks to produce cultured cannabinoids through cellular fermentation.
💲CRON (NASDAQ)
Company Profile

Evolv Ventures (USA): KHC (NASDAQ)
💲Kraft Heinz's $100 million venture capital fund. No known investments in cell tech yet, but fund is devoted to emerging tech companies transforming the food industry.

Evonik (Germany):
💲OTCMKTS: EVKIF
🔗https://corporate.evonik.com/en/company
Company Profile

Illumina: Gene synthesis used in cellular fermentation and protein expression.
💲ILMN (NASDAQ)
🔗https://www.illumina.com

Ingredion (USA): NYSE: INGR
💲Participated in Series B funding of cell based egg company, Clara Foods.
🤝Joint partnership agreement with Clara Foods to develop and distribute novel cell based proteins.
🔗https://www.ingredion.com/
Company Profile

🌱Intrexon (USA): Cellular plant propagation technology (Boticelli™️)
💲XON (NASDAQ)
🔗https://www.dna.com/
Company Profile

🧬GE Life Sciences (USA): Gene synthesis used in cellular fermentation and protein expression.
GE (NYSE)
🔗www.gelifesciences.com
Company Profile

Givaudan (Switzerland): Cell based flavors and fragrances.
💲 (OTCMKTS: GVDNY)
🔗 https://www.givaudan.com/

🧬Integrated DNA Technologies (USA): Gene synthesis used in cellular fermentation and protein expression.
💲Acquired by Danaher (DHR)
🔗https://www.idtdna.com/pages
Company Profile

🧬Lonza (SWITZERLAND): Gene synthesis used in cellular fermentation and protein expression.
💲LZAGF (OTCMKTS)
🔗www.lonza.com

MeaTech (ISRAEL): OPCT (TLV)
🐄Cell based meat and bio-printing company
🔗https://meatech3d.com/
Company Profile

Merk (USA): MRK (NYSE)
💲M Ventures, Merck subsidiary venture capital group co-led $8.8 million financing of Mosa Meat.
🔗http://www.m-ventures.com

🧬MilliporeSigma (USA): Gene synthesis used in cellular fermentation and protein expression.
💲Acquired by Merck, NASDAQ:SIAL
🔗 http://www.emdmillipore.com/US/en
Company Profile

Neto Group (ISRAEL): NTO (TLV)
💲Participated in $2.2 million financing of Future Meat Technologies.
🔗https://www.neto.org.il/en
Company Profile

🐄🍜Nissin Foods Group (JAPAN): Synthesizing cell based diced steak
💲TYO: 2897
🔗https://www.nissin.com/en_jp
Company Profile

🌱OrganiGram (CANADA): ORGIF (OTCMKTS)
💲Participated in $11.6 million financing of Hyasynth Bio, to produce cultured cannabinoids through cellular fermentation.
🔗https://www.organigram.ca/
Company Profile

Royal DSM (NETHERLANDS): RDSMY (OTCMKTS)
🤝50/50 joint partnership with Cargill to produce acellular cultured stevia called Eversweet.
🔗 dsm.com

🧫 Sartorius (GERMANY): Fermentation and bioreactors used for cellular fermentation and protein expression.
💲SRT (ETR)
🔗 https://www.sartorius.com/us-en

Strauss Group (ISRAEL): STRS (TLV)
💲The Strauss Group start up incubator called The Kitchen, part of the Strauss Group Alpha Venture Hub financed Aleph Farms (exact amount unknown).
🔗 thekitchenhub.com/portfolio
Company Profile

🧫💉Thermo Fisher Scientific (USA): Stem cell cultures.
💲TMO (NYSE)
🔗 https://www.thermofisher.com

🧬 Twist Biosciences (USA): Gene synthesis used in cellular fermentation and protein expression.
💲TWST (NASDAQ)
🔗https://twistbioscience.com
Company Profile

Tyson (USA): TSN (NYSE)
💲Tyson New Ventures, venture capital arm of Tyson Foods led $2.2 million financing of Future Meat Technologies.
💲Tyson New Ventures participated in $20.1 million financing of Memphis Meats.
🔗tysonfoods.com
Company Profile

UBS (SWITZERLAND): UGBLF (OTCMKTS)
💲Participated in $387.5 million financing of Impossible Foods.
🔗ubs.com/innovation

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Beyond Meat (NASDAQ:BYND) competitor, Impossible Foods, just completed a $300 million funding round putting the company at a $2 billion valuation. Impossible Burgers are different from Beyond Burger because they incorporate cellular technology to synthesize an ingredient called heme. Heme is arguably what makes the Impossible Burger taste more "meaty" than the Beyond Burger, giving Impossible a slight edge in the uniqueness of their offering.

• Institutional investors include Khosla Ventures, Microsoft Corp co-founder Bill Gates, Google Ventures, Horizons Ventures, UBS, Viking Global Investors, Temasek, Sailing Capital, and Open Philanthropy Project.
• The company has now raised more than $750M and is valued at more than $2B.
• Impossible Burger is sold at more than 7,000 restaurants and plans to roll out at Burger King nationwide this year.
• Impossible Burger's are currently not sold at any retailers, but sources say a retail roll out can be expected this year.

Why We Care: Impossible Foods is proving that demand for alternative protein is high if the right branding and flavors are incorporated. Impossible Foods heme ingredient is both bio-engineered and made using cellular fermentation.

• Beyond Meat’s burger does not contain any unique or proprietary ingredients that make it different from other vegan burgers currently on the market.
• Beyond Meat does not incorporate any cell based technology. Compare to Impossible Foods star ingredient, heme, which is made through bio-engineering and cellular fermentation.
• Beyond Meat has unique packaging and a robust marketing plan to rebrand vegan as trendy with the help of notable influencers.

Beyond Meat has trademarked: The Future of Protein -- fairly strong marketing statement for a company making vegan burgers. So what makes Beyond Burger’s product so “futuristic”? Beyond Meat’s main product, the Beyond Burger, is primarily made from pea protein isolate, canola oil, coconut oil, beet juice (to make the burger look red) and a small amount of stabilizers and gums. It boasts 20G of protein. The recipe contains no cell based technology, or proprietary ingredients.

Let’s review some of the top selling vegan burgers currently on the market (not an extensive list and only contains products that are exclusively vegan and do not contain cheese or eggs, which unlisted and popular veggie burgers contain)

1. Field Roast Burger: primarily vital wheat gluten, expeller pressed palm fruit oil, barley, and some vegetables and spices, 25G protein
2. Quorn Vegan Meatless Spicy Patties: primarily mycoprotein (from fungus), wheat flour, stabilizers, and seasonings, 8G protein
3. Amy’s Veggie Burger: primarily organic mushrooms, organic bulgur wheat, organic onions, organic oats and some vegetables and seasonings, 6G protein
4. Boca Vegan Burger: primarily soy protein concentrate and wheat gluten, 13G protein
5. Morningstar Farms (owned by Kellogs): primarily wheat gluten, soy protein isolate, soy flour, 9G protein
6. Sweet Earth Foods: primarily sweet potato, vital wheat gluten, brown rice flour, edamame, brown rice and some vegetables and seasonings, 14G protein
7. Dr. Praegers Veggie Burgers (very similar to the Beyond Burger ingredients): primarily pea protein, avocado oil, sweet potato, squash puree, carrots puree, 28G protein

The other vegan burger on the market that is important to note is Impossible Burger. Impossible Burger is distinctly unique from every other vegan burger product on the market because it incorporates cell based technology. Impossible burger uses cellular fermentation to synthesize heme, a proprietary ingredient that brings the Impossible Burger most closely to resembling actual meat. The ingredients of the Impossible Burger include: soy protein concentrate, coconut oil sunflower oil and soy leghemoglobin (heme!), and some additional stabilizers and vitamins, 19G protein

So where does Beyond Burger really differ?

1. Gluten Free! (the majority of the burgers on the list are not gluten free)
2. High protein! (at 20G it is on the higher end of the spectrum however Dr. Praegers boasts 28G and is also Gluten Free)
3. Packaging! The Beyond Burger is presented to look very similar to raw meat.
4. Marketing! The Beyond Burger has some notable brand ambassadors including Kyrie Irving, JJ Reddick, Chris Paul, Alex Honnold, Tia Blanco and Deandre Hopkins to name a few.

Are these qualities enough to warrant their future of protein claim? How about that $1.2 billion valuation?

How are products like Impossible Burger made?

The technology used to make the Impossible Burger taste like meat is the same technology being used to make cow free milk, plant free cannabinoids, chicken free eggs and a whole host of novel protein compounds.

This technology is called cellular fermentation. It works by taking DNA molecules and inserting them into bacteria or yeast and fermenting the molecules. This process of inserting DNA into yeast is a form of genetic engineering that can yield proteins identical to the DNA of the starting material.

The opportunities with this technology are vast as they enable development of novel proteins and ingredients without the traditional inputs of agriculture like land, water and animals. This technology fosters ingredient innovation -- we open up possibilities for marijuana plant medicine, synthesizing CBD & THC molecules with specialized medicinal properties. Companies are exploring diverse culinary applications: synthesizing plant proteins like soy leghemoglobin (Impossible Burger is the first use case for mass commercialization). Other companies are synthesizing animal proteins such as camel milk as cellular fermentation becomes a playground for scientists to experiment with previously obscure and extinct ingredients, fragrances and flavors.

Jay Keasling, chemical and bio-molecular engineer at UC Berkeley and his team of researchers, insert genes from the marijuana plant into yeast to synthesize cannabinoids. Through the process, they learned something rather surprising: cannabinoids can be generated from starter molecules (DNA) that do not actually exist in the marijuana plant itself. Further, cannabinoids may be altered in the lab to create novel forms of cannabinoids that potentially have more specific medical applications. http://cellbased.link/produce-low-40004

Keasling has gone on to create Demetrix, a company that will license the technology from Berkeley to synthesize cannabinoids through yeast fermentation.

Why We Care: There are a handful of companies working on this technology, but Keasling's team is the first to report successful synthesis of cannabinoids in a lab -- which provides incredible potential for medical applications in addition to maximizing yield and eliminating the traditional resources of land, water, light and seeds.

Culture Biosciences, a bioreactor facility that companies can use to test cellular fermentation experiments secured $5.5 million in funding led by Section 32, with participation from Refactor Capital and Verily. Culture Biosciences already has a roster of clients including Modern Meadow and Geltor. http://cellbased.link/culture-b0aaf

Cellular fermentation technology is used by companies like Impossible Foods to produce heme and Perfect Day Foods to produce cow free milk.

Why We Care: Culture Biosciences is establishing a link in the supply chain for cellular fermentation. The cellular fermentation market has vast potential to create everything from cannabinoids to heme to gelatin without the use of traditional environmentally straining resources.

Perfect Day Foods raised $34.8 million in a series B round. Investors include Archer Daniels Midland, Horizons Ventures, and Temasek Holdings. http://cellbased.link/perfect-day-626b8

Other cell tech investments by these venture capital firms include:
- ADM (NYSE: ADM): Participated in $18.2 million financing of Geltor
- Temasek Holdings: Participated in $387.5 million financing of Impossible Foods. 

How is Perfect Day Milk Made?

Production begins with a DNA sequence that is inserted into yeast and creates fermentation, subsequently yielding new cells. The new cells are genetically identical to the DNA of the starting material. Read more about this process here.

Cell based meat company, Meatable, may arguably be overcoming the challenges associated with bringing cell based meat to market.

Cell Based Meat Challenges:

• Slow Doubling Time: it takes 20,000 strands of muscle fiber to form a burger, this process can take up to 3 months.
• Limited Life Span: muscle pre-cursor cells have a limited lifespan and will regularly need replenishing in the form of tissue biopsies from the animal.
• Animal Based Serum: The most viable cell culture medium on the market contains fetal bovine serum, which is blood taken from an unborn calf whose mother was slaughtered -- making the process reliant on the current system of slaughterhouse agriculture.

What Meatable Is Doing: Meatable is licensing a proprietary technology called, OPTi-OX, which was developed by Dr. Mark Kotter (neurosurgery clinician scientist and lecturer at University of Cambridge) and his team at Elpis BioMed. OPTi-OX is a form of genetic intervention that converts pluripotent stem cells into any desired cell type. Learn more about how this technology works here.

Solutions via Meatable with OPTi-OX:

• Faster Doubling Time: 20,000 strands of muscle fiber in 3-5 days with OPTi-OX.
• Indefinite Life Span: a single vial of stem cells sourced from a single umbilical cord proliferate indefinitely.
• Animal Free Serum: The cells grow off of E8, a completely animal free cell culture medium made up of amino acids, vitamins, minerals and salts.

Meatable is currently working on isolating the cells, so once the company reaches the phase of adding OPTi-OX, they will produce consistent and homogeneous cell batches in a matter of days. 

Meatable CTO, Daan Luining, says that they'll be producing cell based meat in a self perpetuating small scale bioreactor by 2021. Daan anticipates cell based meat will be consumer affordable in 6-8 years.

With the keto diet in full swing and omega-3 supplement sales rising, "healthy fats" are all the rage. One Spanish company, Cubiq Foods, is capitalizing on this trend with the production of cell based animal fats. Venture capitalists are also eyeing this trend as Cubiq Foods secured a 12 million Euro (13.6 M USD) investment from the Spanish private equity firm Moira Capital Partners SGEIC. http://cellbased.link/cubiq7c196

Why We Care: Fats are another important component of the cell to table dinner plate. Cubiq Foods has stated they expect to reach plates this year with a production capacity of 5.6 tons increasing to 700 tons by 2021 with expected sales to reach 26 million by 2022.

Acellular: acellular production includes the synthesis of proteins such as eggs, gelatin, and milk. Acellular production begins with a DNA sequence that is inserted into yeast and creates fermentation, subsequently yielding new cells. The new cells are genetically identical to the DNA of the starting material.

The company most well known for using acellular production is Impossible Foods. Impossible uses acellular technology to culture soy leghemoglobin used in their Impossible Burger. For a full list of cell based companies go here.

1. Muscle Pre-Cursor Cells (starting cells taken from the animal to replicate)
2. Scaffold (a supportive structure for the cells to grow)
3. Bioreactor (an aseptic temperature and PH controlled environment i.e. a home)
4. Cell Culture Media (a growth medium i.e. food)

Muscle pre-cursor cells are starter cells taken through a biopsy from an animal and used to cultivate tissues.  Muscle pre-cursor cells have a limited lifespan and will regularly need replenishing in the form of another tissue biopsy from an animal.

Scaffolds provide structure for cells to replicate and enables the growth of a variety of structures of meat such as steaks or chicken breasts. There are materials that can be used as scaffolds -- all containing a set of design requirements: biocompatibility, biodegradability, elasticity, pore size, geometry, tensile strength. Some examples of scaffold materials are silk, collagen, gellan gum and alginate.

A cell based tech scaffold is not a physical structure or stage like those used for construction.

A bioreactor is an aseptic environment with a controlled temperature and PH that supports cell proliferation. A bioreactor enables cell based meat to be produced on a large scale and a clean, stable environment for the cells to grow.

Cell culture media contains nutrients (both organic and inorganic): vitamins, salts, O₂ and CO₂ gas phases, serum proteins, carbohydrates, cofactors.

Serum proteins are an integral component to cell culture media. Serum provides various growth factors and hormones involved in growth promotion and specialized cell function.

The most common serum on the market is fetal bovine serum: blood taken from an unborn calf whose mother was slaughtered. Therefore reliant on the current system of slaughterhouse agriculture and contrary to the point of cell based meat production.

There are companies working on artificial cell culture media that do not contain fetal bovine serum, but it is still not clear as to whether these serums can efficiently promote cell growth.