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Triplebar’s latest US$20 million financing will expand its product portfolio across food and biopharmaceuticals

November 1, 2023

Triplebar has announced US$20 million in new funding to expand its product portfolio in food and biopharmaceuticals.

The company's Hyper-Throughput screening platform acts as a 'microprocessor for biology', integrating hardware, software, biology and biochemistry to miniaturize and accelerate evolution. Triplebar and its commercial partners use the platform to develop biological systems for manufacturing low-cost, low-footprint animal proteins to replace traditional animal sources, improving the performance of animal cell lines for cellular meat products, and discovering novel therapeutic biologic drug candidates for addressing major human health challenges.

“Our investors believe profoundly in our mission to reduce humanity’s footprint while greatly increasing our quality of life with better food and biopharmaceuticals,” said Maria Cho, Triplebar CEO. “In addition to our investors, we would also like to thank our corporate partners – from major multinational corporations to early-stage businesses – for their belief in our vision of a world of abundance. Their support is even more critical in today’s challenging fundraising environment.”

Synthesis Capital led the round, with participation from Essential Capital, Stray Dog Capital, iSelect Fund, and existing major investor The Production Board.

“For truly disruptive adoption to take place, alternative products need to at least match animal-based proteins on taste, price, convenience, and nutrition," said Rosie Wardle, Synthesis Capital Partner & Co-Founder. "We believe Triplebar’s technology platform has the potential to bring entire portfolios of bioproducts to market, helping a wide range of companies, from incumbents to startups, to scale up production while reducing cost.”

Triplebar is a foundry business of The Production Board (TPB), a venture foundry established to solve the most fundamental problems that affect our planet. TPB, the first and major investor in Triplebar, is re-engineering global production systems across food, agriculture, biomanufacturing, human health and the broader life sciences.

The investment round comes after several years of growth for Triplebar, named for the mathematics symbol of identity or equivalence; the company makes proteins that are bio-identical to those found in nature.

In early 2023, Triplebar partnered with cultivated seafood platform company Umami Bioworks to co-develop optimized cell lines suitable for large-scale production of cultivated seafood – starting with one of the most popular and critically endangered fish species: Japanese eel.

Together, Triplebar and Umami teams will work to improve the fitness and performance of cell lines to enable lower-cost, more efficient production of cultivated foods. Umami Bioworks will leverage Triplebar’s Hyper-Throughput screening platform for solution discovery, testing millions of potential phenotypic solutions in the time it normally takes to search mere hundreds. The partners will work together to accelerate cell line development and optimization without the need for genetic modification.

Triplebar announced a partnership in January 2023 with global ingredients giant FrieslandCampina to co-develop and scale up the production of ingredients essential to human nutrition. Together, Triplebar and FrieslandCampina will produce microbial cells via fermentation methodologies – which, at scale, can produce proteins with a much smaller land, water and energy footprint than traditional livestock.

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