Eat Beyond's SingCell to license alternative-meat technology from Singapore university
SINGAPORE, NNA - Venture capital firm Eat Beyond Global Holdings Inc. has announced that its portfolio company SingCell Tx Pte Ltd. has entered into a technology development agreement with the National University of Singapore to evaluate and license its plant-based edible microcarriers technology.
SingCell operates as a contract development and manufacturing organization (CDMO), offering its proprietary platform to third-party alternative meat companies to provide scalable processes for cultured meat manufacturing. SingCell has a rapidly growing pipeline of potential projects, noted Eat Beyond in a press release.
Eat Beyond CEO Patrick Morris said, "SingCell is focused on improving the feasibility of the cultured meat industry by focusing purely on the cost and scalability of the technology."
"The company is also located in Singapore, which is truly the epicenter of this industry and was the first jurisdiction globally to approve cell based meat for consumption," he added.
Plant-based faux meat producers in Asia have seen a surge as many consumers seek safe and healthy alternatives in following the coronavirus outbreak.
On the development of cultured meat, Karolis Rosickas, CEO of SingCell, said, "The initial performance of these microcarriers in terms of cell attachment and proliferation is very promising and could solve the cost and scalability issues in the cultured meat industry."
"This technology is very complementary to SingCell's existing 3D cell culture technology, and soon we will be able to offer a more comprehensive bioprocessing scale-up solution to our clients," he added.
The Singapore government has placed a major focus on innovation that will drive food security and make the nation less dependent on foreign suppliers. SingCell is well positioned to leverage these programs to develop its technology and manufacturing infrastructure in Singapore, said Eat Beyond in the statement.
Based in Canada, Eat Beyond is an investment issuer that makes it easy to invest in the future of food. It identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products.
Led by a team of food industry experts, Eat Beyond provides retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply.