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Portfolio Company Meatly Unveils Protein-Free Medium
DOUGLAS, ISLE OF MAN / ACCESSWIRE / May 7, 2024 / Agronomics (LSE:ANIC), a leading listed company focused on the field of cellular agriculture, is pleased to announce that portfolio company Good Dog Food Limited trading as Meatly ("Meatly") has achieved a significant milestone in developing a protein-free culture medium costing only one pound per litre.
Culture medium is an essential element in the production of cultivated meat, providing cells with the nutrients required for in vitro viability and proliferation. Although animal cell culture is routinely performed in academic labs, creating the amount of biomass required for commercial scale and price points demands significant cost reductions and innovations for the replacement of certain medium components such as fetal bovine serum and albumin. Medium costs account for a significant portion of the costs of producing cultivated meat and reducing them is a well-known hurdle the industry faces as it looks to scale up and achieve price parity with conventional meat products.
Agronomics' team has observed that medium prices vary substantially between companies and in some cases are still at levels exceeding hundreds of pounds per litre, making industrial production economically unviable. However, Meatly's new medium contains no serum, animal-derived components, steroids, hormones, growth factors, or antibiotics, and is used in their suspension culture bioreactors without micro-carriers. The absence of these expensive proteins, such as transferrin and insulin, as well as growth factors and micro-carriers, means the production of Meatly's protein-free culture medium at an industrial scale is economically viable - at the price of one pound a litre. Meatly believes further cost reduction will be possible when higher volumes of the medium are purchased.
Helder Cruz, Co-founder and Chief Scientific Officer at Meatly, said:
"Our protein-free culture medium represents a critical milestone for us and the wider cultivated meat industry. By setting this new benchmark, we are driving the cost of production down significantly, which is something the industry has been grappling with for years and is a huge step forward in scaling our technology and making our products available to pet owners at an affordable price and on a commercial scale."
Jim Mellon, Founder of Agronomics, an investor in Meatly, added:
"Meatly's creation of the very first protein-free medium establishes the company as a true technological leader within its field. Medium accounts for the majority of the costs involved in the production of cultivated meat and Meatly has single-handedly slashed those costs a hundredfold or more. This is a huge step forward in bringing the cost of cultivated meat to price-parity with conventional meat and, ultimately, toward the mass adoption of cultivated products. The company expects to shortly receive regulatory approval, and I am excited to feed their delicious product to my dogs."