UK-based clinical and cell ag company 3D Bio-Tissues (3DBT) has recently expanded internationally with a new office in Hong Kong to introduce its flagship cell-boosting media supplement, City-Mix, to the Chinese cultivated meat market.
3DBT will also target the Chinese biotech industry, especially gene therapy, stem cells, regenerative medicine, Life Sciences companies, and academia. The company already started hiring R&D experts and sales and marketing specialists to develop a go-to-market strategy, build distribution networks, and establish manufacturing partners in China.
The announcement was made by the biotech investor BSF Enterprise (LSE: BSFA), which owns 3DBT. Recently, BSF raised £2.9 million to provide working capital for its subsidiary to accelerate its progress and develop systems to expedite the production and supply of its media growth and target manufacturers.
3DBT, a Newcastle University spin-off and partner at UK’s Cellular Agriculture Manufacturing Hub CARMA, has successfully developed cultivated meat prototypes using City-Mix. 3DBT has also announced plans to launch a subsidiary to focus on developing processes needed for mass production of cultivated meat.
With this expansion, BSF aims to gain access and establish the company in China’s dynamic and significant market. Last year, China’s Ministry of Agriculture and Rural Affairs included cultivated meat in its five-year agricultural plan. Chinese companies CellX, which recently inaugurated a pilot facility and cultivated beef producer Jimi Biotech, are already developing cultivated meat products.
Che Connon, chief executive of 3DBT and managing director of BSF, said: “We have a clear plan and are well funded to continue this momentum in the coming year by increasing sales and driving the development of our flagship City-Mix™ product.
“We intend to add additional growth through the creation of a collaborative ecosystem of tissue engineering companies, through M&A and partnerships, and we are extremely excited about the opportunities this will afford us as we continue to grow our commercial presence across the industry.”