13
March 2024
Agronomics
Limited
("Agronomics" or the "Company")
Shiok Meats Merges with Umami
Bioworks
Agronomics (LSE: ANIC), a leading
listed company focused on cellular agriculture, is pleased to
announce that portfolio company Shiok Meats Pte. Ltd. ("Shiok
Meats") has been acquired by UMAMI Bioworks Pte. Ltd. ("UMAMI
Bioworks") in a share-for-share transaction.
UMAMI Bioworks is a Singapore-based
company that uses novel stem cell technology, machine learning, and
automation to produce cultivated seafood. This strategic
combination aims to expedite the journey towards scalable
production of sustainable, cultivated seafood. This merger
leverages the unique strengths of UMAMI Bioworks' innovative
production platform and enabling technologies and Shiok Meats'
pioneering research in crustacean cell cultivation. Based in
Singapore, the combined entity anticipates synergies that will
enhance go-to-market efficiencies, expand commercial opportunities
and accelerate regulatory approvals and market introduction of
cultivated seafood.
As disclosed in the
audited results for the year ending 30 June
2022, Agronomics' position in Shiok
Meats was fully written down. As a result of this
transaction, Agronomics now holds an equity ownership of 0.71% in
UMAMI Bioworks on a fully diluted basis. Subject to audit, this
position will be carried forward at a book value of £ 0.378
million.
About UMAMI Bioworks
UMAMI Bioworks is a
Singapore-headquartered company pioneering a standardized, modular,
and automated production platform for cultivating 'not caught'
seafood. It is bringing together novel stem cell biology, machine
learning, and automation to create the operating system for
cultivated seafood production, empowering traditional seafood
suppliers to produce a stable, resilient, local supply of
culturally relevant seafood products free from mercury,
antibiotics, microplastics, and ocean pollutants. UMAMI Bioworks is
dedicated to regenerating our oceans and our planet by enabling
consumers to access delicious, affordable, nutritious seafood from
culturally important, prized species while providing a sustainable
alternative to the overfishing of ETP (endangered, threatened, and
protected) species. For more information, please visit:
https://www.umamibioworks.com.
About Shiok Meats
Shiok Meats is a cultivated meat and
seafood company - the first of its kind in Singapore and South-East
Asia. "Shiok" in Singapore and Malay slang means fantastic,
delicious, and simply, pleasure. Shiok Meats also owns SEA's first
cultivated red meat company, Gaia Foods. Its mission is to bring
delicious, sustainable, and healthy seafood to the table, using its
technology to grow meat from healthy cells instead of animals. To
date, Shiok has conducted R&D on crustaceans like shrimps,
crabs, and lobsters and is the first in the world to do so using
cellular agriculture technology. The company raised funding of US$
30 million from notable investors like Aqua-Spark, SEEDS capital,
Toyo Seikan, Real Tech Holdings, Big Idea Ventures, Y Combinator,
Entrepreneur First, AiiM Partners and Henry Soesanto of Monde
Nissin, to name a few. More information is available at
www.shiokmeats.com.
Agronomics
Limited
|
Beaumont
Cornish
Limited
|
Canaccord Genuity
Limited
|
Cavendish Capital Markets
Limited
|
Peterhouse
Capital
Limited
|
SEC Newgate
|
The
Company
|
Nomad
|
Joint
Broker
|
Joint
Broker
|
Joint
Broker
|
Public
Relations
|
Jim
Mellon
Denham
Eke
|
Roland
Cornish
James
Biddle
|
Andrew
Potts
Harry
Pardoe
Alex
Aylen
|
Giles
Balleny
Michael
Johnson
Charlie
Combe
|
Lucy
Williams
Charles
Goodfellow
|
Bob
Huxford
Anthony Hughes
|
+44 (0)
1624 639396
info@agronomics.im
|
+44 (0)
207 628 3396
|
+44 (0)
207 523 8000
|
+44 (0)
207 397 8900
|
+44 (0)
207 469 0936
|
agronomics@secnewgate.co.uk
|