BSF Enterprise, a London-based investment and acquisition company focusing on biotechnology, has announced that it has completed a reverse takeover of the UK-based tissue engineering company 3D Bio-Tissues in a GBP 1.25 million deal (~USD 1.56 million). Following the acquisition, BSF Enterprises went public on the London Stock Exchange (LSE) after a GBP 1.75 million (~USD 2.18 million) placement at 7.37 p per share.

The funds raised from the placement will be used to expand 3DBT’s team and support the commercialization of City Max.

3D Bio-Tissues (3DBT) is a spin-off from the University of Newcastle that focuses on producing cultivated meat and leather as well as human tissues such as corneas and skin using its proprietary tissue engineering platform. The company also has developed an animal-free growth media called “City Max,” which can be used to culture skin, muscle, and fat cells in leather and cultivated meat applications respectively. 

3DBT has stated that it plans to offer its technology to companies that produce cultivated meat and is currently working on a prototype pork filet as its first cultivated meat offering.

Founded in 2018, BSF Enterprise is an LSE-listed company that adopts an acquisition-led growth strategy in the cell-based tissue engineering sector. The company aims to become the first to produce cultivated meat in the UK via its subsidiary 3D Bio-Tissues.