ORF Genetics Secures Funding to Scale Growth Factors for Cultivated Meat Media

In a surprising turn of events, Icelandic molecular farming company ORF Genetics has announced it has raised funds to boost the production of growth factors essential for cultivated meat media. This development comes at a time when the cultivated meat industry has seen dwindling investments and only a select few companies are nearing commercial scalability.

CEO Berglind Rán Ólafsdóttir expressed her unwavering belief in the future role of cultivated meat within the broader food system, stating, “The question is not if this market will grow, but when and how fast.” Following a successful fundraising round of €5 million ($5.9 million) from a mix of new and existing investors, Ólafsdóttir elaborated, “For our growth factors, we don’t need hundreds of companies to succeed; just a handful reaching commercial scale will drive strong demand.”

Currently, ORF Genetics supplies its products to various companies, including the Australian startup Vow. Ólafsdóttir noted that the firm is in communication with numerous cultivated meat companies worldwide, adding, “Many of them are progressing well, showcasing remarkable technical platforms and products in development.”

Expansion Plans and Future Investments

To capitalize on market opportunities, ORF Genetics is planning to expand its funding round by the end of October, inviting new investors to join their mission. Ólafsdóttir emphasized the potential growth in this burgeoning market, stating that establishing a strong foothold is crucial.

Do Cultivated Meat Companies Still Need Growth Factors?

While some firms are shifting towards optimizing their cell lines to reduce reliance on growth factors, Ólafsdóttir maintains that “developing methods without growth factors may be far more expensive and risky than using affordable MESOkine available at the scale this industry requires.” She noted that the roadmap for ORF Genetics centers on scaling production and lowering costs to alleviate concerns related to growth factor supply.

To further support this mission, the recent funds will enhance production capacity for MESOkine growth factors by 14-fold by 2027 and increase it by a staggering factor of 10,000 by 2032. The goal is to raise up to €7 million ($8.2 million) by mid-October to achieve these ambitious targets.

Molecular Farming and Its Advantages

Growth factors—signaling proteins essential for cell culture media that stimulate cell growth in cultivated meat production—are typically manufactured through precision fermentation. This process often involves costly steel fermentation tanks. Consequently, there is significant pressure on companies to explore alternative production options, ranging from fruit flies to tobacco plants, with ORF Genetics favoring barley as its primary host.

Founded in 2001 by Dr. Björn Örvar, Dr. Einar Mäntylä, and Dr. Júlíus Kristinsson, ORF Genetics initially specialized in human growth factors for stem cell research through its ISOkine line, and has since expanded into medical diagnostics and cell therapy, as well as cosmetics with its DERMOkine range.

Broadening the Portfolio

With an eye on cultivated meat, ORF Genetics has transitioned into supplying bovine, avian, and porcine growth factors under the MESOkine brand, with plans to introduce fish growth factors soon. Ólafsdóttir revealed, “Our portfolio today spans about twenty different growth factors and continues to expand.”

Barley vs. Microbes

ORF Genetics adopts unique cultivation methods, growing barley hydroponically in greenhouses powered by cost-effective geothermal energy, and has been conducting open-field trials in Canada. The choice of barley is strategic, as it does not invade natural habitats, and their self-pollinating varieties are designed to remain contained.

Ólafsdóttir asserts that both greenhouse and open-field production yield lower costs compared to precision fermentation. “Our protein factory is simply the barley seed, which is an inexpensive and highly scalable factory.” She also pointed out that downstream processing costs are reduced because barley-derived growth factors do not require extensive purification, allowing MESOkine products to contain both native and recombinant proteins.

Regulatory Perspective

When asked about regulatory views on ORF Genetics products, Ólafsdóttir explained, “Regulators usually focus on the residual levels of growth factors in the final product, often comparing cultivated meat to conventional meat. Our MESOkine growth factors have already received regulatory approvals across multiple countries. A significant part of our customer service includes assisting clients in navigating their approval processes.”

With promising advancements and an ambitious roadmap, ORF Genetics is poised to play a pivotal role in the growing cultivated meat market.