CULT Food Science provides product development updates
CULT Food Science Corp. announced that its portfolio company, Cell Ag Tech Inc., has achieved scientific and product development milestones over the last year in its pursuit to develop premium, cell-based seafood products such as snapper, cod and halibut.
In collaboration with food scientists at the Guelph Food Innovation Centre, Cell Ag Tech Inc. has developed its inaugural prototype of a premium cell-based seafood offering. It has been selected as a semi-finalist for the XPRIZE Feed the Next Billion competition, which is a peer reviewed US$15 million contest that incentivizes teams to produce chicken breast or fish fillet alternatives.
“We are pleased to support our Portfolio Company’s continued product development and scientific progress as it demonstrates that Cell Ag Tech is a Canadian leader in the development of premium cell-based seafood products,” said Paul Burridge, Advisor, CULT. “Building a stable foundation of proven science while iterating on product prototypes is mission critical. We believe that cultured seafood has massive potential in the marketplace, and we are excited to see Cell Ag Tech execute and achieve important milestones.”
Cell Ag Tech has completed a pre-submission meeting with Health Canada pertaining to the safety and science of its cell-based seafood product prototype.