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(Sharecast News) - Agronomics said on Friday that its portfolio company Meatable has acquired Uncommon Bio's cultured meat technology platform, strengthening its position in the rapidly developing cellular agriculture sector and expanding its capabilities for commercial-scale production.
The AIM-traded firm said the deal included Uncommon's key technology, intellectual property, high-performing cell lines and specialist staff, enabling Meatable to integrate its own patented 'opti-ox' system with Uncommon's non-GMO mRNA reprogramming and saRNA differentiation technologies.
Meatable said the combined platform would accelerate time to market, support regulatory approvals across multiple jurisdictions and broaden product development across species including pork, beef, lamb and poultry.
"With this acquisition, Meatable is reinforcing its position as a global leader in cultivated meat, proving what is possible when the world's sharpest minds address one of our greatest challenges - feeding a growing planet amid rising meat demand and shrinking supply," said Jim Mellon, executive chair of Agronomics.
"By combining Uncommon's platform with its own, Meatable will have an enviable offering for prospective customers, offering greater choice and scalability, and answering the global call for a protein supply chain which can help moderate price volatility, and boost food security."
Uncommon chief executive Benjamina Bollag said the company had chosen to focus on therapeutics and wanted "the best home for our technology."
"It's exciting to see Meatable carry our work forward and apply it at scale," he added.
Meatable chief executive Jeff Tripician said the deal "sets a new standard for cultivated meat production," equipping the company to "reliably deliver high-quality cultivated meat at a global scale."
Agronomics had invested 7.9m in Meatable to date, a position carried at 11.7m as at 30 June, representing about 8.1% of the firm's last reported net asset value.
At 1505 BST, shares in Agronomics were down 0.64% at 7.45p.
Reporting by Josh White for Sharecast.com.