In France, startup Core Biogenesis has raised $3.1 million in seed financing to scale production of growth factors for cultivated meat. Founded earlier this year in the Station F technology incubator in Paris, the company says it will target samples for testing in the first half of 2021.
“These [growth factor] molecules represent 50% to 80% of the cost [of production of cultivated protein]. We are going to produce growth promoters ten times cheaper. Ultimately, they will be between 100 and 200 times less expensive,” co-founder and CEO Alexandre Reeber told Les Echos.
Core Biogenesis’ growth factors can also be used in cell therapy for neurodegenerative diseases and cancers. The funding was led by venture capital firm XAnge. London’s Entrepreneurs First, California’s accelerator Plug and Play and undisclosed angel investors also participated in the funding round.