22 August 2025

 Agronomics Limited

("Agronomics" or the "Company")

Meatable Strengthens Position in Cultivated Meat Market with Acquisition of Uncommon Bio's Cultivated Meat Technology Platform

Agronomics (LSE: ANIC), a leading listed company in the field of clean food, is pleased to announce that its portfolio company,  Meatable B.V. ("Meatable") has announced the acquisition of Uncommon Bio Limited's ("Uncommon") cultivated meat platform. This includes key technology, several intellectual property assets and high performing cell lines, and expert staff. This acquisition advances Meatable's competitive positioning within the sector, providing enhanced operational capacity and expanded technological capabilities for commercial-scale cultivated protein production. 

Jim Mellon, Executive Chair of Agronomics, commented: "With this acquisition, Meatable is reinforcing its position as a global leader in cultivated meat, proving what is possible when the world's sharpest minds address one of our greatest challenges: feeding a growing planet amid rising meat demand and shrinking supply.

By combining Uncommon's platform with its own, Meatable will have an enviable offering for prospective customers, offering greater choice and scalability, and answering the global call for a protein supply chain which can help moderate  price volatility, and boost food security."

To date, Agronomics has invested a total of £7.9 million in Meatable which, subject to audit, is currently carried at £11.7 million. This position represents c.8.10% of Agronomics' last stated Net Asset Value as at 30 June 2025.

The full announcement is set out below without any material changes:

Meatable Cements Global Leadership in Sustainable Meat with Acquisition of Uncommon Bio's Cultivated Meat Platform

Leiden, August 21, 2025 - Meatable, a global leader in cultivated meat technology, today announced the transformative acquisition of Uncommon Bio's cultivated meat platform, including key technology, several intellectual property assets and high performing cell lines, and expert staff. This acquisition propels Meatable into an unmatched position in the field, offering the most comprehensive, agile, and market-ready cultivated meat capabilities in the industry.

With the integration of Uncommon Bio's cutting-edge non-GMO mRNA reprogramming and saRNA differentiation technologies, Meatable now operates the only true multi-platform cultivated meat technology offering. This versatile solution, pairing Meatable's use of the patented opti-ox™ system with Uncommon Bio's technological capabilities, equips the company to accelerate time to market, navigate regulatory pathways worldwide, and adapt swiftly to diverse consumer and cultural preferences.

"I'm incredibly proud of what we've built at Uncommon Bio, a legacy of innovation and bold thinking in cultivated meat," said Benjamina Bollag, CEO of Uncommon. "After deciding to focus on therapeutics, we wanted to find the best home for our technology and it's exciting to see Meatable carry our work  forward and apply it at scale. I look forward to  continuing our collaboration and watching their continued success and global impact in the years ahead."

"This acquisition is more than a strategic step - it sets a new standard for cultivated meat production," said Jeff Tripician, CEO of Meatable. "By combining two highly complementary platforms, Meatable is now equipped to reliably deliver high-quality cultivated meat at a global scale. This enables us to support the meat industry with a stable, secure, and future-proof supply of species like pork, beef, lamb, and poultry, ensuring business continuity and resilience in the face of increasingly uncertain times."

Already recognized for its pioneering work in cultivated pork and beef, Meatable is now positioned to expand rapidly across species, markets, and consumer segments. The addition of Uncommon Bio's technology accelerates product development for chicken, lamb, and high-flavor breeds, while its non-GMO status and regulatory ready dossier support faster regulatory approval in multiple regions. The acquisition also strengthens Meatable's intellectual property portfolio with additional patents and proprietary assets, further consolidating its status as a technological leader in cellular agriculture.

Positioned as an integral part of the global meat industry, Meatable is forging partnerships across the supply chain to complement, rather than replace, traditional livestock producers. As the demand for meat continues to grow, the company's goal is to help supply additional meat to the meat industry on a global level, and doing so efficiently, at scale and without any risk of livestock disease. Achieving that impact requires bold, out‑of‑the‑box thinking and a willingness to incorporate external knowledge and technologies - principles embodied in the Uncommon Bio acquisition.

"The value of the IP is strengthened by the caliber of investors who have supported Uncommon's mission from the start," said Aris de Rijke, CTO at Meatable. "We're proud to carry forward technology that has earned the trust of such respected backers, like Apollo Projects and Lower Carbon Capital, further fueling our path toward success at scale."

With its broadened base of IP, cell lines, and applications, Meatable now becomes the only cultivated meat company with a true multi-platform strategy - engineered for versatility, speed, and market relevance. The company is uniquely positioned to deliver sustainable, great-tasting meat to feed a hungry planet.

About Meatable

Meatable is leading the charge in revolutionizing how the meat industry sources and produces meat. It is a vendor-partner to the meat industry and provides the science and technology to sustainably produce affordable, great-tasting, real meat at scale. Meatable's cultivated meat technology is designed to complement and integrate into the existing traditional meat industry's supply chains, offering opportunities for partnerships that strengthen the entire system. It accomplishes this without harming animals or the planet, 25x times faster than traditional protein. It is the solution for feeding a hungry planet in the future.

About Agronomics

Agronomics is a leading London-listed company focusing on investment opportunities within the field of clean food. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals.

These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals and improve food security for the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.

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