The Malaysian CropLife & Public Health Association (MCPA), a national association representing the plant science and public health industries of Malaysia, calls for action against illegal pesticides after the tragic poisoning incidents of two young boys and the hospitalization of a teenager upon consumption of rat poison-laced snacks, as reported in the media. These heartbreaking events underscore the urgent need for stringent measures against the use and sale of illegal pesticides.
“The use of illegal and unregistered pesticides poses significant risks not just to public health but also to the environment and economies. We strongly condemn the use of such products,” said Ms. Marie Goh Chooi Fong, Associate Director, Malaysian CropLife & Public Health Association (MCPA).
“Furthermore, the proliferation of unregistered and illegal pesticides through online platforms is a growing concern. We urge the authorities to intensify efforts to govern the online sale of pesticides. Ensuring that all pesticides sold online are properly registered and comply with safety standards is crucial to prevent further tragedies,” she added.
Pesticides are some of the most tested and regulated products in the world. Likewise, in Malaysia, the pesticide industry is rigorously regulated by the Pesticides Board (PB) of the Department of Agriculture (DOA). Only pesticides that comply with stringent safety, toxicology, bio-efficacy, and other standards are approved by PB for sale. MCPA members, as registrants, strictly adhere to the Act, rules, and guidelines provided by PB to ensure safety while supporting national needs, including food security. Additionally, MCPA members adhere to the International Code of Conduct on Pesticides Management (ICOC) by the Food and Agriculture Organization (FAO) of the United Nations (UN).
MCPA and its members have been actively promoting Good Agriculture Practice (GAP) and stewardship programs for decades. These stewardship programs include educating users and promoting practices that encourage the responsible, safe and efficient use of pesticides. This is undertaken within the context of promoting an Integrated Pest Management (IPM) strategy and forms an important part of the industry’s life-cycle approach to product stewardship. MCPA also partners with the food value chain and government agencies to ensure food safety.
MCPA remains committed to supporting farmers and advancing the use of innovative agricultural technologies for a safe, affordable and secure food supply.
About Malaysian CropLife & Public Health Association (MCPA)
MCPA is a non-profit trade association, the voice of the plant science and public health industry in Malaysia. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. MCPA is one of the 15 national associations under CropLife Asia, based in Singapore. For more information, visit us at www.mcpa.org.my.
For more information please contact: Marie Goh Chooi Fong Associate Director Malaysian CropLife & Public Health Association (MCPA) marie@mcpa.org.my
Moolec Science SA(NASDAQ:MLEC) (the Company), a Molecular Farming ingredient company, announced today the signing of an offtake agreement with one of the largest global consumer packaged goods and pet food companies for the use of Moolec’s patented science-based GLA Safflower Oil product, GLASO™ (the Agreement). This initial offtake agreement has a term of three years and establishes commercial conditions for the delivery of GLASO™ in US territory with an initial estimated volume of 50 tons for 2025.
Moolec Science Logo
GLASO™ is a nutritional omega 6 oil obtained from bioengineered safflower seeds. With high-GLA (gamma linolenic acid) concentration, Moolec’s product contains almost 3 times more GLA than conventional sources such as borage and primrose oil, making it the most concentrated GLA oil available on the market. GLA is widely recognized for its health-promoting attributes and is primarily embraced as a valuable addition to various diets in the form of a dietary supplement, functional food, cosmetics, and animal nutrition such as pet food, main application targeted by this offtake Agreement.
Moolec Science also announces that it has signed binding agreements with farmers to cultivate safflower as well as with an industrial partner to secure state of the art downstream capacity. Both agreements are paramount to ensure a fully-controlled and traceable supply chain for GLASO™.
“We are thrilled to announce this significant supply agreement for our GLASO™ nutritional oil product. This milestone, coupled with our new partnership for industrial toll processing, marks a pivotal step in our mission to deliver high-quality, innovative health solutions to our customers worldwide. It underscores our commitment to quickly scaling from small to large volume production and meeting the growing demand for sustainable nutritional ingredients,” said Martín Salinas, Chief Technology Officer & Co-Founder of the Company.
Moolec’s Molecular Farming Platform encompasses revolutionary technology enabling the production of high-quality ingredients, such as nutritional oils and proteins, in plants. The company leads the industry in demonstrating that its technology can be scaled efficiently, affordably, and sustainably. This allows for ingredients to be designed that will offer significant cost-in-use reductions compared to traditional and cellular agricultural methods.
Gastón Paladini, CEO & Co-Founder of Moolec, concluded: “We are very excited about this team accomplishment. It is a concrete and important step in Moolec’s path to commercialize our flagship technology. Going forward, we will intensify our business development and commercialization efforts with major participants in the manufacturing and ingredients business.”
Note to reader: Due to the competitive nature of these agreements, and the fact that Moolec Science is in continuing negotiations for further contracts, disclosure over third parties and price will not be made at this time. Moolec Science will keep the market informed with updates on its annual report that provides a comprehensive overview of the company’s business and financial condition.
Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
Dr Rita Parmawati, a lecturer from the Faculty of Agriculture of Brawijaya Universityhas developed an organic mulch tape made from banana waste, water hyacinth, and paitan leaves (Crotalaria sp). The mulch tape can prevent weed growth and reduce soil surface evaporation rate.
Brawijaya lecturer Dr Rita Parmawati, SP, ME, IPU, ASEAN Eng, with the organic mulch tape from banana waste, water hyacinth and paitan leaf. (ANTARA/HO-Universitas Brawijaya)
“Organic mulch tape is a technology that replaces plastic mulch, which is considered environmentally unfriendly because it cannot decompose properly. The disadvantages of using plastic mulch are reduced plant growth and yields, increased pest attacks, greater microplastic contamination, waterlogging, loss of soil structure, and reduced activity of soil microorganisms,” explained Dr Parmawati.
According to the lecturer, the new technology will be applied when the second planting season approaches in Malaka District, East Nusa Tenggara (NTT), which has abundant banana waste. “We utilize this banana waste together with water hyacinth and paitan leaves to be crushed, chopped, and moulded into a 25-centimetre-wide sheet,” she said.
She explained that mulch tape suppresses weed growth and reduces surface evaporation by up to 40 percent. When exposed to the sun, the organic mulch tape decomposes into fertilizer.
The process of applying the mulch tape is currently being carried out on a laboratory scale. It is at the socialization stage with the Regent of Malaka Regency, several farmer groups, and heads of departments in Malaka District.
Malaka District was chosen to apply the organic mulch tape technology because, according to Statistics Indonesia (BPS) data, it has low agricultural growth. Rice productivity in the area decreased from 2020 to 2022 due to issues in the supply of rice seeds and other problems involving weeds, evaporation, soil temperature, and irrigation systems.
“We will go to Malaka at the end of July. To make mulch tape for 10 hectares of land, we are working with the PT Widjaya Teknik Indonesia (Witech) factory,” she explained.
To ensure the technology’s sustainability, the local community will be helped in making organic mulch tape, starting with the introduction of materials, chopping, making tape pulp, drying, and pressing.
CropLife Asia and the EU-ASEAN Business Council have jointly released a report on the sustainability of food systems in ASEAN. The report titled “Report on ASEAN Food Systems Sustainability,” draws on discussions from the first ASEAN Food Systems Sustainability Workshop that was held in Jakarta in November 2023. This report provides an analysis of the current challenges and opportunities facing agriculture and crop production in Southeast Asia, underscoring the need for region-specific solutions in light of global sustainability trends.
“This report is a call to action for countries in Southeast Asia to ensure national agricultural strategies address national needs and realities,” said Dr. Siang Hee Tan, Executive Director, CropLife Asia. “Realizing safe, secure and sustainable regional food systems requires balancing increased productivity with environmental protection and economic viability for our smallholder farmers. We can and must work together to make certain Southeast Asia’s smallholders have access to innovative technologies enabling greater food production with fewer natural resources and less impact to the world around us.”
The report sheds light on the effects of rising population growth and food demand in Southeast Asia. The region is expected to have nearly 30 million more people in 2030 compared to the European Union. This projection highlights the need for innovative approaches that help provide a reliable and affordable food supply. Another key finding from the report is the growing climate change impact to the region’s agricultural sector including lower yields, increased risks from extreme weather events and the continued spread of pests and diseases. The region’s unique tropical climate as well as soil condition further contributes to these agricultural challenges.
“We live in a world where food security, improving the nutritional value of the food we produce, and raising rural incomes are all of increasing importance and are all equally key sustainability measures. And, we have to do this whilst also taking care of and protecting our natural environment. As this report highlights, these things can be done together, in balance,” said Chris Humphrey, Executive Director, EU-ASEAN Business Council.
The report also provides insight into the key crop export landscape in ASEAN and how the stringent agricultural and environmental policies of the EU Green Deal could hinder productivity and sustainability in the region. Additionally, the report emphasizes the role and relevance in the region of agricultural innovations including digital solutions for food distribution, training farmers in efficient farming techniques and the use of gene-editing and crop protection technologies.
CropLife Asia is a non-profit society and the regional organization of CropLife International, the voice of the global plant science industry. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. CropLife Asia supports the work of 15 member associations across the continent and is led by six member companies and one associate member company at the forefront of crop protection, seeds and/or biotechnology research and development. For more information, visit us at www.croplifeasia.org.
About EU-ASEAN Business Council
The EU-ASEAN Business Council (EU-ABC) is the primary voice for European businesses within the ASEAN region and is the only organisation that operates in the intersection of the private and public sectors between ASEAN and Europe. We are formally recognised by both the European Commission, and we are an accredited entity under Annex 2 of the ASEAN Charter.
Independent of both bodies, the Council has been established to help promote the interests of European businesses operating within ASEAN and to advocate for changes in policies and regulations which would help promote trade and investment between Europe and the ASEAN region. As such, the Council works on a sectorial and cross-industry basis to help improve the investment and trading conditions for European businesses in the ASEAN region through influencing policy and decision makers throughout the region and in the EU, as well as acting as a platform for the exchange of information and ideas amongst its members and regional players within the ASEAN region
For more information please contact: Duke Hipp Director, Public Affairs & Strategic Partnerships CropLife Asia duke.hipp@croplifeasia.org
Moolec Science SA(NASDAQ:MLEC) a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming technology, announced today its Business Update for the third quarter of Fiscal Year 2024 ended March 31, 2024.
Moolec Science Logo
The main highlights of Moolec’s business update are as follows:
Piggy Sooy™ Product | Soybean Platform: Moolec’s patented soybean product received USDA-APHIS Regulatory Status Review approval in April 2024.
Safflower Platform: GLASO™ planting campaign progressing as expected. Two US Patents granted for production of chymosin in safflower seeds (SPC2) extended exclusive technology protection until 2041.
Financial highlight: Normalized revenues and other income (Ex-IAS 29) up ~$1.3M YoY given consolidation of soy-protein ingredient business. R&D, Admin and other expenses of $2.3M increased 68% YoY mainly due to non-cash items. Operational cash utilization this quarter of ~$2.6M includes ~$1.4M allocated to lower accounts payable.
“These past few months mark a significant milestone in Moolec’s journey, showcasing our relentless pursuit to deliver results. Our progress on Piggy Sooy™ with the USDA-APHIS regulatory RSR approval, in addition to the starting of our GLASO™ commercial production streams are pivotal achievements that underscore our unwavering commitment to nutritional and sustainable solutions. I am thrilled to witness just the beginning of the fruits of our labor and am grateful for the continued and unwavering dedication of our team,” expressed Gastón Paladini, Chief Executive Officer and Co-Founder of Moolec Science.
José López Lecube, Chief Financial Officer for the company, stated, “We are very pleased with our team’s consistent milestones delivery as we are addressing meaningful market opportunities. We remain confident in our disciplined approach to spending while preserving an adequate cash position and balance sheet to fund the business. I want to extend my congratulations to our team for the exceptional USDA-APHIS regulatory RSR approval, a major achievement for our long-term business plan execution.”
For a full version of Moolec’s first quarter Fiscal Year 2024 Business Update, click here.
Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar. To access the call, please use the following information:
Please connect 5 minutes prior to the start time to register and join.
A recording of the call and the pdf version of the presentation will be available after the conclusion of the live event via Moolec’s Investor Relations website.
About Moolec Science SA Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food and dietary supplementation markets. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal proteins, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the nutrition and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverage the agronomic efficiency of broadly used target crops like soybean, pea, and safflower to produce oils and proteins. Moolec also has an industrial and commercial R&D capability to complement the company’s Molecular Farming technology. Moolec secures a growing international patent portfolio (25+, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of PhDs and Food Insiders, and operates in the United States, Europe, and South America. For more information, visit moolecscience.com and ir.moolecscience.com.
Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in the Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Moolec’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
Affirms readiness for traceability moves by Europe and the world
Sri Trang Agro-Industry PCL (SET: STA) has begun delivering EUDR rubber in May this year to several major branded tire manufacturers in Europe, South Korea, China and other countries, reinforcing the Company’s readiness to support the European measures to trace back the origin of natural rubber – the procedures are expected to come into force by the end of this year. Similar measures are also set to be implemented by countries in other regions around the world in the near future.
Mr. Veerasith Sinchareonkul, Managing Director & Executive Director of Sri Trang Agro-Industry Public Company Limited (STA), the world’s leader and largest integrated natural rubber business operator and Thailand’s largest rubber glove manufacturer, announced that, in April-May 2024, the Company has begun to deliver natural rubber complaint with EUDR (EU Deforestation Regulation) to customers who placed their orders by May 2024. STA’s “Traceable Natural Rubber (GPS)” commands higher selling prices than most other sources, with customers consisting of many nationalities from Europe, South Korea, China and other Asian countries where there is a demand for EUDR rubber to be processed into products that will be exported to countries in the European Union in response to upcoming EUDR enforcement expected by the end of 2024. The EUDR will regulate the export of natural rubber and products processed from natural rubber to Europe, requiring traceability verification to ensure that the sources of natural rubber are not involved in deforestation and are not an encroachment of forested areas.
Mr. Veerasith Sinchareonkul, STA’s Executive Director & Managing Director
Currently, the Company is fully ready to export all types of EUDR rubber, such as latex concentrates, rubber blocks, rubber sheets, etc., This readiness results from ongoing preparations to support these measures. More importantly, the database management system has been developed in collaboration with farmers and rubber dealers to identify land designated for rubber plantations. This system inputs data into the “Sri Trang Friends” application allowing 100-percent traceability of rubber sources. Additionally, the launch of “Traceable Natural Rubber (GPS)” enables direct tracing of produce back to its origins. These initiatives demonstrate the Company’s full readiness to comply with the EUDR requirements from Europe, as well as from other regions in the near future for full traceability of the sources of natural rubber.
“We have been preparing in advance for some time for the exportation of EUDR rubber to countries in the European Union or their trading partners. Our operations place full emphasis on the policy that prioritizes environmental, society, and good corporate governance, together with our stance on conducting business sustainably and transparently, and in compliance with regional regulations. The Traceable Natural Rubber (GPS) will enhance the competitiveness of the Sri Trang Group of Companies while also elevating Thailand’s standards on rubber production above those of other countries’. This initiative will also open up the opportunity to increase Thailand’s trade advantage and leverage higher prices for Thailand-sourced rubber,” Mr. Veerasith added.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sri Trang Agro-Industry PLC For additional information, please contact: Wasana “Jeab” Wongsiri Tel: +66 84 359 0659, +66 2 612 2081 ext.131; E: wasana.w@mtmultimedia.com
About Sri Trang Agro-Industry PC
Sri Trang Agro-Industry PCL (STA) was established in 1987. With determination and intention, STA has grown and become a fully integrated natural rubber company. For the upstream business, the Company invested in large-scale rubber plantations and currently has an area of 7,500 hectares for rubber and other economic crop plantations in 19 provinces of Thailand. As the world’s largest fully integrated producer and distributor of natural rubber, STA is committed to growing in lockstep with the economic development of the local communities of Thailand.
CropLife Asia, the regional voice of the plant science industry, today announced a new lineup for the organization’s Office Bearers within the Board of Directors. Following the CropLife Asia 2024 Annual General Meeting, changes include the installation of Mr. Rahoul Vijay Kumar Sawani as President of CropLife Asia with immediate effect.
Mr. Rahoul Sawani serves as President, Asia Pacific with Corteva Agriscience. Appointed to this position in 2022, Mr. Sawani is responsible for delivering the company’s regional strategy and overseeing the growth of the business in the Asia-Pacific region. Highly experienced in the agricultural sector, Mr. Sawani has held various positions in across the plant science industry in his 18-year career and was previously Vice-President, South Asia with Corteva Agriscience.
The new roster for the CropLife Asia Office Bearers is as follows:
Rahoul Sawani, President, Asia-Pacific, Corteva Agriscience – President
Pramod Thota, President FMC Asia-Pacific, Vice-President, FMC Corporation – Vice-President
Alexander Berkovskiy, Regional Director, AMEA, Syngenta – Treasurer
“As climate change intensifies and farmers in Asia face increasing challenges with crop production, plant science plays an important role in ensuring a robust, resilient and sustainable food system for the region. We’re grateful to have experienced and strong leaders comprising our CropLife Asia Board of Directors at such a consequential time for our region,” said Dr. Siang Hee Tan, Executive Director of CropLife Asia.
About CropLife Asia
CropLife Asia is a non-profit society and the regional organization of CropLife International, the voice of the global plant science industry. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. CropLife Asia supports the work of 15 member associations across the continent and is led by six member companies at the forefront of crop protection, seeds and/or biotechnology research and development. For more information, visit us at www.croplifeasia.org.
For more information please contact: Duke Hipp Director, Public Affairs & Strategic Partnerships CropLife Asia Tel: (65) 6221 1615 duke.hipp@croplifeasia.org
Moolec Science SA (NASDAQ:MLEC) (Company; Moolec), a Molecular Farming food-ingredient company, announced today the granting of a patent family in the United States for its SPC2 product produced in safflower with Molecular Farming technology. This new patent adjudication will give the company, through its U.S. sole-owned subsidiary AG Biomolecules LLC, exclusivity for the use of the technology until 2041. Find the link to the patent here: https://image-ppubs.uspto.gov/dirsearch-public/print/downloadPdf/11965169.
Moolec Science Logo
Moolec, whose technological platform has been under development for more than a decade, is known for pioneering the production of a bovine protein in a crop for the food industry. With the development and commercialization of the world’s first product for the food industry using Molecular Farming, Moolec shattered barriers and revealed the potential of this groundbreaking technology in the industrial biotech sector. This milestone transcended the limitations of traditional biotech practices, opening doors to innovation previously confined to pharmaceuticals.
The recently patented technology encompasses safflower plants, inclusive of their seeds, engineered with specific DNA sequences (transgenic event) aimed at improving the expression of bovine chymosin in safflower seeds.
Amit Dhingra, Moolec Science’s Chief Science Officer, emphasized, “This new family of patents not only ensures intellectual property protection for our product but also represents a platform for additional opportunities for Moolec’s safflower platform.” He then finished by saying, “It positions us to produce new proteins and products, leveraging the unique attributes of this crop. Moolec remains committed to innovative advancements in sustainable biotechnology, driving impactful change across food industries.”
Additionally, the patent extends to cover the DNA vectors utilized for transforming the safflower plant and the DNA sequences required for detecting the transgenic event.
While the patent has been successfully secured in the United States, a parallel application has been submitted in Argentina, a crucial strategic territory for Moolec’s safflower technology initiatives. Although the Argentinian patent application is currently pending, the patent family boasts a lifespan extending until 2041.
About Moolec Science SA Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food and dietary supplementation markets. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal proteins, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the nutrition and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverage the agronomic efficiency of broadly used target crops like soybean, pea, and safflower to produce oils and proteins. Moolec also has an industrial and commercial R&D capability to complement the company’s Molecular Farming technology. Moolec secures a growing international patent portfolio (25+, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of PhDs and Food Insiders, and operates in the United States, Europe, and South America. For more information, visit moolecscience.com and ir.moolecscience.com.
Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
Moolec Science SA (NASDAQ:MLEC)(The company), a Molecular Farming food-ingredient company, announced today that the Animal and Plant Health Inspection Service (APHIS) of the U.S. Department of Agriculture (USDA) has concluded its Regulatory Status Review (RSR) for Moolec’s genetically engineered (GE) soybean Piggy Sooy™. See post online here: https://www.aphis.usda.gov/sites/default/files/23-234-01rsr-response.pdf [1].
USDA Piggy Sooy
The USDA-APHIS RSR determines that Moolec’s genetically engineered soybean, accumulating animal meat protein, is unlikely to pose an increased plant pest risk relative to non-engineered soybeans. Therefore, it is not subject to the APHIS regulation that governs the movement of organisms modified or produced through genetic engineering (as described in 7 CFR part 340).
“Moolec embraced Nasdaq’s slogan ‘Rewrite Tomorrow’ and took it literally! We achieved an unprecedented milestone in biotechnology with the first-ever USDA-APHIS approval of this kind,” stated Gastón Paladini, Moolec Science’s CEO & Co-Founder. “We are unlocking the power of plants by leveraging science to overcome climate change and global food security concerns. I am very proud of the Moolec team, creating value for shareholders and the planet at the same time.”
This milestone reinforces Moolec’s B2B go-to-market strategy for Piggy Sooy™ product, an innovative, functional, and nutritious ingredient. By adding a well-known animal meat protein (porcine myoglobin) to the standard soybean proteins, the company expects to provide food manufacturers with a unique ingredient that will have a positive carbon and water footprint.
Martin Salinas, Chief of Technology & Co-Founder at Moolec, enthusiastically announced: “We believe this milestone sets the stage for a revolution in the food-industrial biotech landscape, paving the way for expedited adoption of Molecular Farming technology by other industry players. Also, this compelling advancement signifies a stride in enhancing our operational efficiency, transforming our methods of raw material sourcing, and optimizing our downstream crushing and processing operations.”
In June 2023, the company announced that Piggy Sooy™ seeds had achieved high levels of expression of pork protein (up to 26.6% of the total soluble protein) and had patented their technology. The company clarifies that Piggy Sooy™ development is set to keep moving forward completing the necessary consultation with the United States Food and Drug Administration (“FDA”). Moolec declares to be engaged in the consultation process with the FDA, representing the next pivotal regulatory milestone preceding the commercial availability of Piggy Sooy™ ingredient.
About Moolec Science SA Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food and dietary supplementation markets. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal proteins, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the nutrition and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean, pea, and safflower to produce oils and proteins. Moolec also has an industrial and commercial R&D capability to complement the company’s Molecular Farming technology. Moolec secures a growing international patent portfolio (25+, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in the United States, Europe, and South America. For more information, visit moolecscience.com and ir.moolecscience.com.
Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
[1] In the first paragraph of the USDA-APHIS online response letter, please note that the term “gene editing” should be understood as “genetic engineering” due to an unintentional error that may be addressed in the coming days.
Moolec Science SA(NASDAQ:MLEC) a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming technology, announced today its Business Update for the second quarter of Fiscal Year 2024 ended December 31, 2023.
Moolec Logo Moolec Science Logo
The main highlights of Moolec’s business update are as follows:
SOOY1 | Piggy Sooy™ Platform: Third generation (T3) soybean seed propagation has started, and fourth generation (T4) seeds are expected to be harvested in April 2024. A molecular analysis reveals that the current T3 soybean population contains a stable number of porcine myoglobin gene copies consistent with a population that is not segregating.
PEEA1: Scientific team confirms the presence of bovine myoglobin gene in pea seeds and the gene’s stable inheritance across plant generations.
YEEA1: Moolec´s prototyping platform includes a novel yeast strain that is being developed as a dietary supplement and food ingredient, and Moolec has begun the first of several pre-submission consultations with US-FDA.
Product Marketing: The next generation of textured plant-protein prototypes produced at Moolec’s industrial and commercial R&D center were presented to the public in Gulfood 2024.
Financial highlight: Capital Raise of ~$30M with $10M in cash and ~$20M in kind contributions materialized in October 2023 with strategic investors through a convertible note followed by an additional ~$1M raised with farmers in December 2023. Revenues and other income (Ex-IAS 29) of ~$1.7M slightly down QoQ. R&D, Admin and other Expenses in line with historical track record of cost efficiency. Operational cash utilization of ~$4M includes ~$2.7M allocated to lower accounts payable.
“This quarter has been a testament to the dedication and hard work of our team. We have made steady progress in our research and development efforts as well as product development. I am incredibly proud of our team’s delivery and execution. Thank you to the Moolers, and to our partners for their continued support,” stated Gastón Paladini, Chief Executive Officer and Co-Founder of Moolec Science.
“Our financial position reflects our commitment on multiple fronts. The strategic partnerships we have formed, most recently with farmers, will be instrumental not only in our funding health, but also contribute to support Moolec’s product growth and commercialization in the near future,” declared José López Lecube, Chief Financial Officer for the company. He then continued by saying: “As we move forward, we remain focused on maintaining a healthy financial position and are confident in our ability to navigate the next stages of our growth.”
Conference Call
Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar.
To access the call, please use the following information:
Please connect 5 minutes prior to the start time to register and join.
A recording of the call and the pdf version of the presentation will be available after the conclusion of the live event via Moolec’s Investor Relations website.
About Moolec Science SA Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal-based food, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the organoleptic properties and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean and safflower. Recently, it acquired plant-based ingredient capabilities to consolidate Molecular Farming Technology. Moolec has a growing international patent portfolio (26, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in the United States, Europe, and South America.
Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in the Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Moolec’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.
