NEW TECH FOODS

Cult Food Science has announced a significant development in its product pipeline. The company's subsidiary, Further Foods, has secured an R&D supply agreement with a cultivated meat producer.

This partnership aims to facilitate the creation of the Noochies! line of cultivated meat pet treats, underscoring Cult's commitment to innovative, sustainable food solutions. The R&D supply agreement is a pivotal step towards the commercialisation of cultivated meat-based pet products.

By partnering with a supplier already engaged in the FDA regulatory process, Further Foods can bypass the necessity of conducting separate feeding trials. This strategic move not only streamlines development but also reduces associated costs, potentially accelerating the timeline for market entry.

Recognising the increasing demand for sustainable pet food in Asia, Further Foods is actively expanding its distribution network across key markets in the region.

The company has already secured orders from a Southeast Asian distributor and is in discussions with additional partners. This expansion reflects Cult’s strategic approach to making cultivated meat pet treats more accessible, aligning with a global shift towards ethical and alternative pet nutrition.

Further Foods will showcase the Noochies! line at the upcoming Global Pet Show in Orlando, Florida, from March 26-28, 2025.

The regulatory landscape for cultivated meat in pet food is evolving. One of Further Foods' suppliers is currently navigating the FDA approval process for their cultivated meat ingredients.

If successful, this would allow Noochies! to market its products in the US without the need for independent feeding trials, thereby expediting commercialisation efforts. The decision to pause internal trials demonstrates a calculated approach to resource allocation and regulatory compliance.

Mitchell Scott, CEO of Cult Food Science, said: "Finding reliable partners to supply cultivated meat at a feasible price point has been a significant challenge. However, we are confident that our strategic partnerships will enable us to redefine the pet food industry with sustainable, ethical solutions."

He highlighted the importance of the Global Pet Show and the Asian market expansion as critical milestones in the company’s growth trajectory.

In addition to product development news, Cult Food Science has completed debt settlement agreements totaling $26,346 with two arm’s-length creditors. The company issued 573,984 shares at a deemed price of $0.0459 per share as part of this settlement. This move is intended to preserve cash for operational needs while maintaining a focus on growth and innovation.