Tiamat Sciences: Lowering the Cost of Cellular Meat with Plant-Based Proteins

The Challenge of Cost in Cellular Agriculture

Cellular growth medium is a crucial element in the field of cellular agriculture, enabling the production of lab-grown meat at potentially reduced expenses. However, conventional methods for creating these essential growth factors, or reagents, are themselves quite expensive, hindering the feasibility of large-scale manufacturing.

Current estimates indicate that lab-grown meat averages around $50 per unit. Nevertheless, emerging technologies suggest a significant price reduction is possible, potentially reaching $3 per pound by the year 2030.

Tiamat Sciences: A Novel Approach

Tiamat Sciences, a biotechnology startup, is pioneering a more economical biomolecule designed to supersede costly bioreactors. The company recently announced the successful completion of a $3 million seed financing round.

This funding was spearheaded by True Ventures, with additional participation from Social Impact Capital and Cantos.

Proprietary Plant Molecular Farming

Founded in 2019 by CEO France-Emmanuelle Adil, Tiamat Sciences focuses on manufacturing animal-free proteins. They employ a unique plant molecular farming approach.

This innovative method integrates biotechnology, vertical farming techniques, and computational design to revolutionize the production of recombinant proteins.

“The current cost of growth factors utilized in cell culture media is substantial,” Adil explained to TechCrunch. “Our technology promises a dramatic reduction in costs, ultimately achieving price parity with conventionally produced meat.”

Cost Reduction Targets

Adil estimates that the present cost of growth factor production is approximately $2 million per gram. However, she anticipates that, through the efforts of Tiamat Sciences and others in the field, this cost could be reduced tenfold.

Further optimization aims to achieve a 1,000-fold reduction in cost by 2025, paving the way for large-scale production capabilities.

Expansion and Funding

Prior to this $3 million seed round, the company secured a smaller funding injection last July, bringing its total funding to $3.4 million. This initial capital facilitated the company’s expansion.

Originally based in Belgium, where it maintained an operational facility, Tiamat Sciences relocated to North Carolina in May.

The newly acquired funding will be allocated to the construction of a pilot production facility in Durham, North Carolina, and to further advancements in technology development.

The company is actively pursuing carbon-neutral production methods.

Product Development and Partnerships

While specific customer details remain undisclosed, Adil confirmed that the company is currently developing its first product, slated for release by the end of the year.

Following the product launch, samples will be distributed to potential customers for testing, with the expectation of establishing strategic partnerships in 2022.

Broader Applications

Beyond the food industry, Adil highlights the potential applicability of Tiamat’s approach in other sectors, including regenerative medicine and vaccine production.

“Growth factors have versatile applications across various industries due to the similarities in underlying processes,” she noted. “We are planning expansion efforts for late 2022, with a strategy of rapid scaling involving numerous plants, potentially reaching 100,000 plants.”

Discussions are underway with companies to facilitate this large-scale, yet progressive, expansion.

Investor Perspective

Phil Black, co-founder of True Ventures, emphasized that the investment in Tiamat Sciences aligns with their existing portfolio of plant-based companies.

The initial funding allows Tiamat to demonstrate the efficacy of its technology and produce it at a trial scale. Subsequent, larger funding rounds will then support scaling up production from liters to gallons.

“The cultivated meat industry is poised for sustained growth, with increasing interest in enhancing profitability and expanding production capacity,” he added. “Limited factors currently constrain the industry, and Tiamat’s solution has the potential to be transformative.”