BSF Enterprise wraps up purchase of lab-grown skin, cornea and meat developer

BSF Enterprise PLC (LSE:BSFA) has completed the reverse takeover of 3D Bio-Tissues Ltd, a tissue engineering company that is developing a process to make replacement human skin, human corneas, lab-grown meat and a range of other skin-care applications.

The deal follows an institutional fundraising where 3DBT, which was spun out of the University of Newcastle-upon-Tyne, raised £1.75mln at a price of 7.37p per share.

One of 3DBT’s near-term targets is to produce the UK’s first 100% lab-grown meat in the next 12 months, BSF said, with the new funds also to be used to expand the workforce and to market the company’s animal-free cell growth agent and cosmetics.

Based on 20 years of lab research, the company’s patented process is called tissue templating, “an in-house engineering platform that takes a bio-inspired, bottom-up approach to tissue engineering to create structured, functional and scalable tissues”.

The company has developed City-mix, a serum-free media for culturing muscle and fat cells that can be used for producing skin, muscle and fat cells, which will be used for lab-grown meat, leather and human skin subsitutes.

In skincare, 3DBT says its Lipopeptide Etsyl product actively increases collagen production in human skin cells which can be used in cosmetic and skin care products.

Geoff Baker, executive director of BSF, said: “Our successful acquisition of 3DBT provides investors with exposure to an extremely exciting suite of IP which can be used for multiple applications across numerous fast-growing and transformative markets, including the lab grown meat and leather markets, as well as skin care.

“The skilled 3DBT team has already produced the world’s first human corneas, which is a fantastic feat given that 12.7m people worldwide are currently awaiting a cornea transplant.”

BSF floated as a cash shell on London’s main market in 2019 with a board based in Asia-Pacific, though 3DBT co-founder Professor Che Connon has joined the board, while also remaining director of business development for the Newcastle university’s faculty of medical sciences.