GOOD Meat Leads the Cultivated Meat Industry Toward Price Parity with Regulatory Approval of its Serum-Free Media in Singapore

Jan 24, 2023

TORONTO, - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a pioneer in the investment, development, and commercialization of cellular agriculture technologies and products, announces that its affiliate company GOOD Meat, the cultivated meat division of food tech company Eat Just, Inc., has received first-in-the-world regulatory approval by the Singapore Food Agency (SFA) for the use of serum-free media in the production of cultivated meat, leading the industry closer to price parity.

Cellular agriculture technology traditionally uses Fetal Bovine Serum (FBS) in bioreactors as an effective growth medium to cultivate animal cells into the muscle, fat, and connective tissues that form meat. However, FBS serum bears a number of disadvantages including inconsistent quality, ethical concerns, and cost. Up to 95% of the cost of cultivated meat production can be attributed to the cost of growth media for cells. Removing serum as the media or growth trigger for the cell-based meat process is seen as a major factor in driving down costs and expanding commercialisation of cultivated meats.

GOOD Meat's approval for the use of serum-free media will make cultivated meat production more scalable and efficient, inching the industry closer to price parity, in comparison to conventional animal agriculture.

GOOD Meat recently launched at Huber's Butchery in Singapore, the first butcher in the world to sell cultivated meat. Eat Just is also constructing a Singapore-based facility with the ability to produce tens of thousands of pounds of cultivated meat. The plant, which will be running the company's serum-free formulation process, is slated to open in later 2023.

Management Commentary
"This announcement from GOOD Meat is another example of their leadership in the cellular agriculture industry. Access for the industry at large to low cost cell culture media, with consistent quality, is a key element to the industries long term success. It can make the difference if the end product for consumers is affordable and accessible, or not" said Lejjy Gafour, CEO of CULT.

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