Business
City-Mix Commercial Progress Update
City-Mix Commercial Progress Update.
About this update from Bsf Enterprise Plc
[{"type":"text","content":"\n \n \n 6 March 2023\n \n \n BSF Enterprise PLC\n \n \n (\"BSF\" or the \"Company\")\n \n \n \n \n \n City-Mix\n \n \n \n \n TM\n \n \n \n \n Commercial Progress Update\n \n \n Significant Interest from Target Market and First Customer Secured\n \n \n \n \n \n \n \n BSF Enterprise plc (LSE: BSFA), an investment company focused on unlocking the next generation of biotech solutions, provides an update on the progress of City-MixTM, the flagship commercial product of its wholly owned subsidiary 3D Bio Tissues (3DBT).\n \n \n 3DBT's City-MixTM is a patented non-toxic culture media supplement that acts as an effective \"cell booster.\" It is composed of a specific formulation that facilitates a process called macromolecular crowding which has a number of advantages over traditional media used in the production of cultivated meat.\n \n \n These include higher yields; the need for fewer expensive supplements; the removal of the need for plant-based structures resulting in a product that is pure meat; and the elimination of animal- derived serum, such that no animals suffer in the production of the cultivated meat.\n \n \n \n A number of commercial opportunities have arisen for 3DBT since designing and implementing its Go To Market plan for City-MixTM in the last quarter of 2022, and notably,\n 3DBT has secured its first agreement after completing a successful evaluation of City-MixTM.\n \n \n \n \n \n \n \n 3DBT has engaged with over 60 Cellular Agriculture companies\n of which 26 have progressed to new business opportunities, representing a 43% conversion rate. From these 26 business opportunities, 22 product evaluations are already underway with a view to incorporating City-MixTM into cultured media formulations. A further two companies have also completed successful evaluations and are expected to begin purchasing the product in April 2023.\n \n \n \n \n \n \n As well as Cellular Agriculture companies, which are involved in the production of cultured meat, leather and media, 3DBT has identified two other key target markets. These are Biotech Companies, such as those working in gene therapy, stem cells and regenerative medicine; and Life Sciences companies and academia, which research the above disciplines.\n \n \n \n \n \n 3DBT has identified appropriate sales channels for each market, with a direct sa...