Business
InSilico Medicine sale-Correction of sale proceeds
InSilico Medicine sale-Correction of sale proceeds.
About this update from Agronomics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 1897Q\n Agronomics Limited\n 26 October 2021\n \n \n \n \n 26th October 2021\n \n \n \n \n \n \n Agronomics Limited\n \n \n \n (\"Agronomics\" or the \"Company\")\n \n \n \n \n \n InSilico Medicine, Inc sale - Correction of sale proceeds\n \n \n \n \n \n Agronomics, the leading listed company focused on the field of cellular agriculture, announced on 24 June 2021 the disposal of its holding of 23,147 shares in Insilico Medicine, Inc for US $669,775 (£475,540), which represented an IRR of 54%. Upon further review, Agronomics has identified that the final sale proceeds were $523,477 (£378,561), thereby representing an IRR of 45%. The lower proceeds and realised profit accounted for only 0.1% of the Company's net asset value as at 30 June 2021.\n \n \n \n About Agronomics\n \n \n \n Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture. The Company has established a portfolio of 15 companies from the Pre-Seed to Series B stage in this rapidly advancing sector. It seeks to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world's expanding population. A full list of Agronomics' portfolio companies is available at\n \n https://agronomics.im/\n \n .\n \n \n \n \n \n About Cellular Agriculture\n \n \n Cellular agriculture is the production of agriculture products directly from cells, as opposed to raising an animal for slaughter, or growing crops. This encompasses cell culture to produce cultivated meat and materials, and fermentation processes that harness a combination of molecular biology, synthetic biology, tissue engineering and biotechnology to massively simplify production methods in a sustainable manner.\n \n \n Over the coming decades, the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically. We have already ...