NEW TECH FOODS

Nexture Bio, a player in the cultivated food sector and part of the Generation Food Rural Partners portfolio, has acquisitired Matrix Food Technologies (Matrix FT).

This strategic move aims to enhance Nexture’s offerings of animal-component-free (ACF) technologies, which are increasingly vital in the burgeoning field of cellular agriculture.

The acquisition integrates Matrix FT’s extensive patents, trade secrets, and data with Nexture Bio’s proprietary technology, significantly bolstering its capacity to provide high-quality microcarriers, scaffolds and cell-attachment factors.

These products are essential for the development of cultivated meat alternatives, addressing a critical gap in the market for food-safe, ACF solutions.

Teryn Wolfe, CEO of Nexture Bio, said: “Matrix FT had a robust portfolio of patents, large amounts of data on its animal-component-free and edible microcarrier and scaffold formulations, and a positive track record with a long list of customers".

"With our expert team and ambitious vision, we are in an ideal place to capitalise on the acquired assets and to serve our customer base more efficiently and meaningfully.”

Matrix FT specialises in plant-based, edible nanofibre scaffolds and microbeads, designed to facilitate the production of clean and environmentally friendly cultivated proteins.

The technology developed by Matrix FT is particularly relevant for creating structured cuts of cultivated meat, a segment that is anticipated to gain traction as consumer demand for sustainable protein sources grows.

Steven Finn of Siddhi Capital, an early investor in Matrix FT, commented: "Siddhi originally invested in Matrix FT because we firmly believe that scaffolds are the long game – they are necessary for whole, structured cuts, which is ultimately going to make the cultivated meat industry competitive by allowing for the types of products consumers crave".

He continued: "This transaction is a big deal for the future generations of cultivated products. I am ecstatic to see all the scientific breakthroughs and value developed at Matrix live on within Nexture Bio with the continued support of Big Idea Ventures."

Tom Mastrobuoni, chief investment officer at Generation Food Rural Partners, added: “We started Nexture Bio to address the gap in the market for food-safe, ACF scaffolds for whole cuts. This acquisition is a pivotal step forward in promoting adherent cell culture at scale.”

Nexture Bio is currently renovating a pilot-scale Good Manufacturing Practices (GMP) production facility in Vacaville, California, and operates a research laboratory in Xenia, Ohio.

The company has already launched its first microcarrier product and plans to introduce additional products throughout 2025.

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