Cellular agriculture firm Agronomics (LON: ANIC) has seen its shares climb Thursday after it announced an $8 million investment in The EVERY Company.
EVERY is a precision fermentation company with a focus on the commercialisation of proteins traditionally derived from animals. EVERY was founded in 2014 by Arturo Elizondo.
Agronomics will take a 1.39% stake in EVERY — formerly Clara Foods. This equates to an estimated portfolio weighting based on the company's last reported Net Asset Value of 5.7%.
Agronomics is investing as part of a minimum fundraise of $127.5 million undertaken by EVERY.
Jim Mellon, Non-executive Director of Agronomics, commented: “We are extremely pleased to become investors in EVERY, a leader in the cellular agriculture field, with its world-class precision fermentation platform.
“This investment broadens Agronomics' portfolio further into other major protein categories outside of meat and dairy. We are delighted to be working with Arturo to accelerate the commercialisation of animal-free egg proteins.”
Agronomics shares have risen over 2% to 29.5p following the announcement.
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