Tiamat Sciences Corp.
Bringing cell-based meats to market thanks to plants
Tiamat Sciences Corp. is growing the next generation of biomolecules using plants as bioreactors. After closing a pre-Seed round with the NY-based VC Social Impact Capital, the biotech recently welcomed the serial entrepreneur & investor, Ryan Bethencourt, as advisor and chairman of its board. Tiamat is on its way to build a new US-based production facility in the North Carolina research triangle to provide its first products to some of the 20+ companies that already expressed their interest.
THE MISSING INGREDIENT
FOR MAINSTREAM CLEAN-MEAT?
“Affordable animal-free growth factors are a long-awaited ingredient for cellular-agriculture companies in their mission to bring cultured meats to the market. Thanks to their innovative production platform using plants as bioreactors, I’m confident that the Tiamat team will address both the price and scalability challenges for one of the most exciting markets of the century.”
Ryan Bethencourt, CEO @ Wild Earth & Tiamat's Chairman
Growing meat in a lab instead of harvesting it from animals is no longer science-fiction and companies like Memphis Meats, Mosa Meat or Shiok Meats are on their way to bring it to our plates. A 2019 AT Kearney study even predicted that lab-grown meats could represent up to 35% of the total meat consumption by 2040 (1).
But today, cell-based meat producers haven’t yet reach price parity with regular meat, and it is mainly due to one of the key ingredients: the culture media used to grow the cells and differentiate them into fat or muscle tissues. 60% to 80% of the current cell-based meat production cost comes from the animal-free medium needed to grow the meat (2). Up to 99% of media costs come from small proteins called growth factors that can reach prices as high as several million $ per gram.
Tiamat PlanTech platform can solve this technical challenge by providing affordable animal-free growth factors to cell-based meat companies.
(1) How Will Cultured Meat and Meat Alternatives Disrupt the Agricultural and Food Industry? A.T. Kearney – 2019
(2) An analysis of culture medium costs and production volumes for cultivated meat – Good Food Institute
“We are really excited about Tiamat’s plants-as-bioreactors approach to producing growth factors. This might be the game-changing innovation that finally makes commercially viable cell-based meat a reality.”
Naropa Love -Founder and Editor
@ Protein Report
“Production of recombinant proteins is a must for any vegan cell-based product. Production in plants with the latest technology in vertical farming and molecular biology is the natural step for reducing cost and move cellular technology to the price the general public can afford”
Raquel Revilla - CSO & Co-founder
@ CUBIQ FOODS, S.L.
Thanks to its PlanTech technology platform, Tiamat can manufacture a wide range of biomolecules inside plants, from enzymes to growth factors. The company has already achieved a 10x cost reduction and the team is confident that they can lower the costs down to a 1000 times in the coming years. Tiamat designed its exclusive process combining proven biotech methods, vertical farming latest innovations & computational design. The technology has been designed for large scale productions while reducing initial facility investments by 40x comparing to current production systems. Tiamat’s soon-to-be patented process offers a wide range of applications with hundreds of potential new biomolecules and a strong IP strategy backed-up by one of the best lawyer team.
“From cell-culture to cellular agriculture, numerous companies are looking for animal-free solutions for their activities. Our exclusive plant-based production system allows us to answer those needs with a wide range of raw ingredients & reagents. By targeting nascent markets on the verge of scale-up, we’ve already demonstrated significant traction for our solutions and an early revenue potential that is outstanding for a biotech start-up. We are targeting early partnerships with a third of the companies producing lab-grown meat today & we are in the process of building strong relationships in other markets, from supplier agreements to production partnerships.
France-Emmanuelle Adil, Founder & CEO @ Tiamat
About Ryan Bethencourt
Ryan Bethencourt is a serial entrepreneur & investor active in the novel food & biotech fields. He is currently CEO of Wild Earth (We make Healthy and Sustainable #Plantbased Pet Food), co-founder at Sustainable Food Ventures (a micro VC), and Partner at Babel ventures (consumer biotech VC fund).
Ryan’s mission is to positively impact the lives of billions of people and animals through applied biotechnology. In the past, he already did it through its many experiences:
- Entrepreneur (CEO & co-founder of 3 biotechs)
- Biotech Investor (Angel and VC investor in over 120+ consumer, food, and therapeutic biotech co's)
- Singularity University, Faculty (Biotech & Future of Food)
- Co-Founder IndieBio (SOSV), the leading global biotech accelerator
Ryan is now chairman of the board for Tiamat Sciences Corp.
About Social Impact Capital
Social Impact Capital is a Venture Capital fund specialized in impact investing, which they define as investments that can deliver top decile returns in addition to a positive social impact. They focus on the "essentials of human need" — energy, water, food, health, environment, education, housing, access to capital, and social justice.
Social Impact Capital works with a variety of investors including family offices, high net worth individuals, endowments (university and foundation), and funds (pension and sovereign wealth) helping them make direct investments in high growth companies. SIC is backing more than 20 companies operating in the US and abroad.
About Tiamat Sciences Corp.
Tiamat is a start-up producing affordable animal-free biomolecules using plants as bioreactors. Thanks to its proprietary platform, the company can manufacture a wide range of high-values proteins from antigens to growth factors.
The company already achieved a 10x cost reduction and plan to break the costs down up to 1000 times in the coming years. The low investment needed to build a facility (up to 40x less than current solutions) combined with its unique technology makes Tiamat the ideal partner in production scale-up for promising markets such as cellular agriculture or cell & gene therapy.