Further to the recent study which found that 40% of future meat intake is likely to come from cell cultivated meat; Agronomics Limited (AIM:ANIC), a leading listed investor in the cellular agriculture sector with a focus on cultured meat and related alternative proteins, announces a conditional subscription and conditional placing to raise at least £50 million (before expenses).
The proceeds will fund the furthering of its portfolio in cell-cultured meat, and to develop and commercialise intellectual property in which the Company has an interest in accordance with its investment policy.
As we reported last January, Agronomics announced that further to its investments in LegendDairy Foods, Meatable, Oritain and BlueNalu, it had completed a fundraise of £5.5 million through the issue of 78,571,429 shares at a price of 7.0 pence per share.
The following April the company invested a further US $99,999 into Rebellyous Foods, taking its stake to 1.23% from 1.0%. In November, Argonomics announced a $5 million subscription with cellular aquaculture specialist BlueNalu, stating it would be paid using cash from its own resources.