CULT Food Science Invests in Cell Manufacturing Innovator Unicorn Biotechnologies Limited

News
April 28, 2022

VANCOUVER, BC, April 28, 2022 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, is pleased to announce that is has made a strategic investment into Unicorn Biotechnologies Limited ("UBL"). The investment was part of an oversubscribed round of financing led by Acequia Capital. Located in Cambridge, United Kingdom, UBL is a biotech company developing a cell manufacturing system that aims to significantly reduce the cost and increase the efficiency of the production of animal cell products.

Additionally, on April 21, 2022 UBL was featured in TechCrunch, which is a leading online technology publication, in an article entitled "Unicorn Bio is building the hardware to scale cultivated meat from lab to table". CULT was also named in the piece, which was focused on UBL's capital raise to turn its prototype bioreactor into a commercial product. It can be viewed via the following link: https://techcrunch.com/2022/04/21/unicorn-bio-is-building-the-hardware-to-scale-cultivated-meat-from-lab-to-table/.

The cost, time, and manual labour associated with cell-based adherent manufacturing have been significant hurdles thus far for the cellular agriculture and cell therapy industries, as well as for medical research. Currently, it takes over 40 hours of manual labour per production batch, approximately three years to scale production processes to industrial levels and costs a significant amount of capital for large-scale manufacturing systems to be produced. UBL is working to solve these problems by building better bioreactors to power the cell-based manufacturing revolution for cultivated meat.1

To achieve its goals, UBL has developed a solution using industry-leading and energy-efficient technology. Its fit-for-purpose, high-density adherent cell manufacturing system improves process development timelines by 90%, achieves a 10-fold cost reduction and lowers the labour component by 75% through automated workflows as compared to current processes. CULT's investment will support the ongoing development and commercialization of UBL's solution, which is positioned to aid in the growth of the global cellular agriculture industry.

A bioreactor is a vessel for growing organisms like animal cells, under controlled conditions by providing the same temperature, pH and oxygen levels. It is an apparatus, typically cylindrical and stainless steel in nature and ranging in volume from a few litres to several cubic meters, that maintains a consistent environment by constantly stirring its contents.2 A bioreactor is critical in the cellular agriculture process in order to grow animal cells sustainably and affordably. Ultimately, bioreactors allow for cells to grow in a timely manner and require little manual labour to operate.

Management Commentary

"CULT is excited to add its investment in UBL to its cellular agriculture ecosystem. We are keenly interested in the growth trajectory of UBL based on the early prospects of its potentially game-changing new bioreactor solution," said Lejjy Gafour, Chief Executive Officer of CULT. "The cellular agriculture industry is working hard to develop economic and sustainable solutions to feed the planet's growing population, reduce emissions and ultimately make the world a better place. I am confident that our investment in UBL is helping to achieve that goal and  we look forward to collaborating with the UBL team as part of our growing ecosystem," added Mr. Gafour.

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies around the world.

Additional information can be found by viewing the Company's website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

"Lejjy Gafour"
Lejjy Gafour, President

Forward-Looking Information

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Endnotes

1.       "About", Unicorn Biotechnologies Limited, 2021, https://www.unicornb.io/about
2.       "Bioreactors", Brad Reisfeld, Department of Engineering: Colorado State University, 2021, https://www.engr.colostate.edu/CBE101/topics/bioreactors.html

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