Agronomics makes follow-on investment in CellX

LONDON, UK: Agronomics (AIM:ANIC), the leading listed company focused on the field of cellular agriculture, has invested a further US$ 2 million into Chinese cultivated meat company CellX Limited (“CellX”), subscribing for 857,363 preferred shares.

CellX is a leading cultivated meat company based in Shanghai. Agronomics will have a 5.14% equity ownership in CellX, on a fully diluted basis. The Subscription will be made using cash from the Company’s own resources.

Agronomics first invested in CellX in December 2020, with a US$ 50,000 investment in the form of a SAFE (“Simple Agreement for Future Equity”). This SAFE converted to 230,681 preferred shares as stated in the 28th May 2021 announcement. Subject to audit, in aggregate, Agronomics will now carry the combined position in its accounts at a book value of US$ 2,538,117, including an unrealised gain on cost of US$ 488,117, representing an internal rate of return of 458% and a multiple on invested capital of 10.76 of the initial US$ 50,000 investment. The CellX position in the Agronomics portfolio will represent approximately 1.40% of last reported Net Asset Value.

About CellX

CellX is a leading cellular agriculture start-up located in Shanghai, the biotech and innovation hub in China. CellX started with domestic Chinese pig breed and has quickly expanded to beef and poultry. With a team of thirty, CellX is working to bring cultivated meat products to consumers in China and around the world. The company is co-founded by two impact entrepreneurs, Ziliang Yang and Ran Liu, and two top scientists, Dr Ning Xiang and Dr Binlu Huang. The team has made significant progress since their founding in 2020, and they have now moved into the next phase of development – scaling up and reducing cost. CellX is collaborating with top universities and leading companies in China and around the world to advance the research and development of cultivated meat, and the company is accelerating market launch and cultivated meat approval as a key player in the APAC region. More information at

About Agronomics

Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of 21 companies at the Pre-Seed to Series C stage in this rapidly advancing sector. It seeks to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals.

These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world’s expanding population. A full list of Agronomics’ portfolio companies is available at

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