ProFuse Technology received $1.25M from Fresh Start FoodTech Incubator

KIRYAT SHMONA, Israel, Oct. 18, 2021 /PRNewswire/ -- ProFuse Technology was established by Fresh Start FoodTech in the north of Israel, is supported by The Israeli Innovation Authority, and is operated by the Tnuva, Israel's leading food company, Tempo, a leading beverage company, OurCrowd's investment platform and the global Agrifood VC, Finistere Ventures. The company's unique expertise is the optimization of the differentiation and fusion stage of cultured meat, which accounts for ~50% of its production costs.

The company developed a novel and exceptionally efficient solution, which reduces production time and enhances the production capacity of cultured meat by accelerating muscle fiber growth.

The company's solutions and additives reduce the number of required production cycles, enhance the meat production in each cycle, improve the quality of the muscle fibers, and increase protein content. This results in a 40% reduction in cultured meat production costs and is expected to impact the quality of produced meat cuts.

The company is well-positioned to provide significant value to cultured meat companies, and to promote their goal of achieving price parity for traditionally grown meat.

The company's technology relies on a 6-year research conducted at the Weizmann Institute of Science, which was led by Professor Eldad Tzahor, a world-known expert in developmental biology and cell regeneration, Dr. Ori Avinoam, who specializes in cell fusion and tissue forming, and Dr. Tamar Eigler, an expert in stem cell biology. The company has initiated its operations in June 2021 under the leadership of Dr. Tamar Eigler Hirsch (CTO) and Mr. Guy N. Michrowski (CEO).

The company's founders' extensive academic record is now geared to advance one of today's most promising and highly-invested foodtech fields – cultured meat.

Dr. Tammy Meiron, Fresh Start FoodTech Incubator CTO: "ProFuse responds to one of the most significant challenges concerning cultured meat companies today, and is an important enabling technology. Fresh Start is proud to take part in the important process of recruiting Biotech technologies and turning them to startup companies that will promote a sustainable food industry."

Dr. Opher Shapira, CEO, Yeda (Weizmann's technology transfer company): "ProFuse is yet another promising foodtech company coming out of the Weizmann Institute of Science. We are excited about the cooperation with Fresh Start in taking the work of the team in Weizmann led by Professor Tzahor to the next stage in the road to develop cultured meat."

About the Weizmann Institute of Science

The Weizmann Institute of Science in Israel, is one of the world's top-ranking multidisciplinary research institutions. Noted for its wide-ranging exploration of the natural and exact sciences, Weizmann Institute's scientists are advancing research on the human brain, artificial intelligence, computer science and encryption, astrophysics and particle physics, and are tackling diseases such as cancer, while also addressing climate change through environmental, ocean, and plant sciences.

About Yeda

Yeda Research and Development Company Ltd. is the commercial arm of the Weizmann Institute of Science. Yeda currently manages approximately 500 unique patent families and has generated the highest income per researcher compared to any other academic technology transfer operation worldwide. Through the years, Yeda was responsible for the inception of several companies in the agritech and foodtech domains, such as Day Two, Phytolon and most recently Plantae Biosciences. Furthermore, Yeda has contributed to the commercialization of a number of groundbreaking therapies, such as Copaxone, Rebif, Tookad®, Erbitux®, Vectibix®, Protrazza®, Humira®, and recently the CAR-T cancer therapy Yescarta®.

About Fresh Start:

Fresh Start FoodTech Incubator was established in early 2020 in Kiryat Shmone, as part of the Israeli Innovation Authority's incubators' program, and as a significant part of the evolving foodtech cluster of the Eastern Galilee. Fresh Start's is set to establish dozens of companies during its 8 years of franchise, harnessing its extensive expertise and financing to commercialize breakthrough technologies and support the growth of impactful foodtech companies.

The incubator's partners are 4 key players in the Israeli food industry and the global financial world, including Tnuva, Tempo, OurCrowd, and Finistere Venture.

www.fresh-start.co.il
www.profuse-tech.com
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SOURCE Fresh Start FoodTech