Meat-Tech 3D, which is developing cultured meat products using proprietary 3D bioprinting technology, filed on Thursday with the SEC to raise up to $29 million in an initial public offering. The company is currently listed on the TASE (MEAT).
Meat-Tech 3D is focused on developing and out-licensing its proprietary three-dimensional printing technology, biotechnology processes, and customizable manufacturing processes to food processing and food retail companies seeking to manufacture proteins without the need for animal slaughter. It is initially focused on developing cultured meat steak technology. In the 3Q20, the company successfully printed a uniform, thin, slaughter-free meat tissue from stem cells. Meat-Tech has not generated any revenues since the inception of its cultured meat operations and does not expect to generate any revenue from its operations in the near term.
The Ness Ziona, Israel-based company was founded in 2018 and plans to list on the Nasdaq under the symbol MITC. Meat-Tech 3D filed confidentially on October 27, 2020. H.C. Wainwright is the sole bookrunner on the deal. No pricing terms were disclosed.
