CULT Food Science Expands Intellectual Property Portfolio with Multiple Cell Agriculture Patents, Machine Learning Data, and Bioprocess Prototyping Toolkits
The company’s subsidiaries and portfolio companies will be granted a 15-year license to Cella Food System’s intellectual property portfolio for the decentralized development of cellular agricultural products
VANCOUVER, BC, February 28, 2022 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”), an innovative investment platform focused exclusively on cellular agriculture that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global crises in industrial agriculture and aquaculture, is pleased to announce that it has entered into a Binding Letter of Intent (the “Letter of Intent“or the”Transaction“), dated February 25, 2022 with Cella Food Systems Inc. (“CellaThe transaction will allow the company to accelerate its proprietary cellular product development capabilities through Cella’s patent portfolio, machine learning data and IP prototyping toolkits, while crystallizing research collaborations solutions and leveraging the methodologies of Cella’s accomplished inventors. CULT continues to build a defensible moat around its flagship cellular agriculture.”CellAg“) intellectual property (“IPs“), patent and investment platform through the additive business arrangement.
“CULT has long recognized that the goal is to build a CellAg ecosystem, not just a portfolio of investments. We believe that, while competitive, players in the cellular arena are dedicated to a sustainable and collaborative future. the company’s trusted relationship as an investor and partner across many verticals enables the company to leverage its own platform technologies where appropriate to aid and augment its rapidly growing holdings. should ultimately result in multiple streams of future revenue and royalties for CULT as it contributes not just capital, but advanced technologies across its entire portfolio.This is the first stage of the plan company’s strategy to harness the benefits of emerging cell-based food markets, not only as an investor, but as a principal,” commented Lej jy Gafour, President of CULT.
“This is a transformational step forward for CULT, laying the foundation for mutually beneficial research and development collaborations as we expand our own internal platform to become a leading IP provider for cellular agriculture, machine learning and breakthrough science around cell-based foods. This access gives us a first-mover advantage that we will strive to strategically exploit in our portfolio companies as well as to protect superiority. We look forward to rapidly deploying Cella’s intellectual property and patents in our ongoing initiatives to provide our growing shareholder base with preeminent access to the future of food,” added Lejjy Gafour. .
Terms of trade
In accordance with the terms and conditions of the LAW, CULT and Cella will exchange CAD 300,000 of ordinary shares (the “Shares“) of their respective companies, such shares being valued as follows:
- Each of the CULT Shares will be valued based on the weighted volume of a trading price of the CULT Shares on the Canadian Securities Exchange (the “CSE“) for the 15 trading days preceding the date of execution of the Definitive Agreement, subject to the minimum price per share permitted under the policies of the CSE; and
- CELLA shares will be valued at a CAD 10,000,000 pre-monetary assessment.
Shares issued by the parties pursuant to the share exchange will be subject to resale restrictions in accordance with applicable securities laws and the policies of the CSE, as applicable. In addition, CULT shares issued to Cella will be subject to a voluntary hold period of six months.
In addition, Cella will grant CULT, CULT’s current or future affiliates, a 15-year license to use all of Cella’s intellectual property as of the date of the signing of the definitive agreement, including, without limit thereto, Cella’s registered patents, under preferential commercial conditions to be defined in more detail in the license agreement. The scope of use will be defined in the License Agreement, but will include CULT’s portfolio companies, with a quarterly review by the parties.
Cella’s patents were developed by leading scientists and synthetic biology experts from MIT and Yale University. They focus, but not exclusively, on systems and methods for producing novel proteins from fungal cell lines. Cella’s proprietary food and beverage IP toolkits can provide a baseline that can help companies disrupt the emerging cell market. Cella’s machine learning data aims to help CULT transform food systems with more cost-effective manufacturing processes while using fewer resources than current food and beverage companies.
The fungal cell line methodologies patent portfolio includes the following capabilities and potential applications:
- Bleeding function in meat: cell-based proteins that cause meat to bleed such as proteins of animal origin;
- Lab-grown collagen: proteins with multiple health-boosting properties, including optimizing immunity and maintaining healthy skin;
- 3D Scaffolding: Creates structural elements for use in cell-based meats for a more realistic mouthfeel by supporting muscle, fat, and tissue development; and
- Peptides: a method for producing adhesive properties of mammalian cells on cell surfaces; used to improve structure in cell-based meat applications.
Reason for the transaction
The transaction is designed to accelerate CULT’s proprietary cell biology and bioprocess engineering capabilities, as well as complement its existing interests in the cellular investment platform. In addition, the transaction potentially enables cost savings, increased returns, faster time to market and decentralized development of CellAg products across the Company’s evolving investment portfolio and IP platform. .
The development of Cella’s core portfolio was led by Dr. Kate Kruger. She is a technical expert for the XPRIZE Feed the Next Billion project, a former director of research at New Harvest and a former employee of Perfect Day Foods, which was the first precision fermentation company to manufacture milk proteins where she helped to founding patent. The patents essentially revolve around his filing for Cella entitled “Systems and methods for producing meat from mushrooms”. Finally, CULT believes that Cella’s cutting-edge science around machine learning data and open source prototyping IP toolkits will help its portfolio companies accelerate their innovations globally.
About Cella Food Systems
Cella Food Systems (“Cella“) is the ideal operating system platform for innovative cell-based food companies to advance technologies capable of solving the world’s greatest food supply challenges, which today are lost in commercialization bottlenecks Cella accelerates the development process so that we can find solutions in time to feed our growing population for decades to come.
About CULT Food Science
CULT Food Science Corp. (CSE: CULT) is an innovative investment platform focused exclusively on cellular agriculture that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global plant and aquaculture crises. The first of its kind in North AmericaCULT Food Science aims to provide individual investors with unparalleled exposure to the most innovative start-up, private or start-up cultured meat and cultured dairy companies around the world.
Additional information can be found by visiting the company’s website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.
On behalf of the Company’s Board of Directors,
CULT FOOD SCIENCE CORP.
Lejjy Gafour, President
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SOURCE CULT Food Science Corp.
For more information: For more information on CULT Food Science Corp. : Phone. : +1 (833) HEY-CULT (+1 (833) 439-2858), Email: [email protected], Web: www.CULTFoodScience.com, Twitter: @CULTFoodScience; For French inquiries regarding CULT Food Science: Maricom Inc., Tel: (888) 585-6274, Email: [email protected]