Business
Commercial Progress Update
Commercial Progress Update.
About this update from Bsf Enterprise Plc
[{"type":"text","content":"\n\n \n22 May 2023\nBSF Enterprise PLC\n(\"BSF\" or the \"Company\")\n \nCity-MixTM Commercial Progress Update\n \nBSF (LSE: BSFA), a company focused on unlocking the next generation of biotech solutions and the development of lab-grown tissues, is pleased to announce that its 100% owned subsidiary, 3D Bio-Tissues Ltd (\"3DBT\"), has secured its first distribution agreement and three new customers for its patented City-MixTM supplement. City-MixTM is 3DBT's proprietary culture media booster that provides numerous advantages over traditional media used in cellular agriculture.\n \n3DBT has entered into direct sales agreements with two lab-grown meat companies and one biotech company. These are intial sales and revenues are expected to be relatively small at this early stage but should grow over time. However, this is an important milestone for the Company providing an excellent reference while highlighting the quality of our product.\n \nEvaluation of City-MixTM is ongoing with numerous Cellular Agriculture companies across 12 countries, and 3DBT is progressing plans to roll-out a web-based sales channel for City-Mix™ in the coming months to facilitate its direct sales model. This is the Company's preferred approach to penetrating the Cultivated Meat market. This will include links to suppliers, FAQs and companion documentation, datasheets.\n \nIn addition, 3DBT has made positive progress in building its indirect sales network, which is preferable for the Biotech and Life Sciences markets, with the Company securing its first distribution partner, Abacus dx. Abacus dx is owned by Diploma PLC and covers Australia, New Zealand and Fiji. The sales agreement with a biotech business announced today is located outside of these territories and was therefore secured directly. 3DBT has additional European distribution partners in its near-term pipeline, which will further expand its geographic reach.\n \nLab-grown Leather Update\n \nFurther to our announcement on 15 May 2023 outlining our Lab Grown Leather Update we wish to state that we have entered a contract with a leather company to test and develop lab-grown animal skin for leather production, although the terms of the contract are highly confidential at present. We will update the market as and when further projects are defined.\n \n...