LUXEMBOURG / ACCESSWIRE / October 20, 2023 / Moolec Science SA (NASDAQ:MLEC) a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming, today reported its Business Update for the fourth quarter of Fiscal Year 2023 ended June 30, 2023.
The main highlights of the Company's business update are as follows:
Piggy Sooy™: introducing a soybean platform that can produce high amounts of pork protein.
The animal protein reached high expression levels of up to 26.6% of total soluble protein in soy seeds, 4x higher than initially projected by the Company.
Completed Regulatory Status Review submission from USDA-APHIS and engaged in pre-submission discussions with FDA.
New patent was successfully filed.
Moolabs: New Moolec's Molecular Biology Lab in Texas A&M University Bioscience Business Accelerator.
GLASO: 2023 safflower campaign finished with ~50% above average crop yields.
Capital Raise: ~$30 million from strategic investors in cash and in-kind contributions.
"Looking back, I am incredibly proud of what Moolec has accomplished. We set ambitious goals, and our unwavering commitment to innovation and excellence has allowed us to not only meet but exceed our objectives. Our team's relentless dedication and innovations achieved unprecedented scientific results," stated Gastón Paladini, Chief Executive Officer and Co-Founder of Moolec Science.
"This year, Moolec achieved important milestones that not only reflect our technological ability but also our investment backing. In addition to the $10 million raised during Fiscal Year 2023, we were able to commit $30 million from strategic investors in a challenging financial market environment. These commitments will drive Moolec´s business model forward through additional liquidity and enhanced capabilities," said José López Lecube, Chief Financial Officer and Director of Moolec Science. He added, "Our sources of financial support and funding avenues are adequate and work to support our commitment to innovate in the food industry."
For a full version of Moolec's fourth quarter Fiscal Year 2023 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 replay and the pdf version of the presentation will be available approximately two hours after the conclusion of the live event via the company'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 (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.
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 - 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.
