Meat-Tech 3D Ltd, an Israeli developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, has signed a letter of intent to acquire 100% of a leading developer of cultured fat products, for US$17.5 million. The company in question has developed a unique, proprietary stem-cell-based technology that can create animal fats, such as those from cattle, chickens or geese, in a bioreactor without harming any animals.
The move will allow Meat-Tech, which has developed a proprietary bioprinter that deposits layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in 3D form to create ‘clean meat’, to further expand its offerings, accelerate capability development, and shorten times to market.
It will now be able to combine cultured fats with plant proteins, giving plant-based foods a more ‘real’ meat flavour and texture. Such hybrid products, incorporating both plant components and animal cell-based ingredients, are expected to grow into a significant market similar in size to the current plant-based alternative meat products.
The company says the acquisition is part of a strategy to optimise its processes and diversify its product range as it seeks to introduce cultured meat technologies to the market as quickly as possible. Through a combination of internal development and acquisitions, Meat-Tech is developing multiple cutting-edge technologies intended to be leased to major food producers globally. The company first demonstrated the uniform printing of a thin layer of meat tissue in August 2020.
“We expect the cultured fat technology to offer significant R&D synergies and help us realize our vision of development and production of a variety of cell-based foods using more sustainable production technologies,” commented Sharon Fima, CEO and CTO of Meat-Tech, on the deal. “We hope to collaborate with new team members very soon.”
“Cultured fats are a promising candidate to be amongst the first cell-based products to be launched at scale,” added Steve H. Lavin, chairman of the board of directors of Meat-Tech.
The acquisition is now subject to due diligence and the execution of a definitive agreement.
Image Course: Meat-Tech 3D Ltd