The GAAP recently closed an undisclosed investment round into Ergo Bioscience (ERGO), an Argentina-based biotech startup that produces complex animal proteins through plant cell cultivation for use in plant-based meat and dairy products.

A recent investment by the Global Agri-Food Advancement Partnership (GAAP) will give Saskatchewan a leading edge in the precision fermentation sector.

The GAAP recently closed an undisclosed investment round into Ergo Bioscience (ERGO), an Argentina-based biotech startup that produces complex animal proteins through plant cell cultivation for use in plant-based meat and dairy products. ERGO's precision fermentation technology can produce high-value compounds, using less land, water, and other resources than traditional agriculture systems.

This investment will support the expansion of the company's operations into North America, with GAAP housing ERGO in its Saskatoon labs in the coming months.

In the fall of 2023, Alejandro Barbarini, CEO at ERGO participated in GAAP's Navigate program, which is supported by Ag-West Bio. The exploratory trip was a great success. The company benefitted greatly from GAAP's customized concierge services as Barbarini met with investors, collaborators and other industry experts.

GAAP is a partnership between Ag-West Bio, the Global Institute for Food Security, and Innovation Saskatchewan.

Karen Churchill, president and CEO of Ag-West Bio says bringing international companies to Saskatchewan through Navigate helps showcase the province's capabilities. "When the companies see the infrastructure and expertise we have here, they are surprised, and sometimes they decide to become part of the community. Saskatchewan's research cluster is world-class, but not yet well known. Navigate can help change that."

Kari Harvey, CEO of Innovation Saskatchewan, says "Enticing ERGO to Saskatchewan is particularly exciting, as it leverages the province's robust infrastructure and significant investments. Saskatchewan is already a global leader in agriculture, and our growing agri-food sector stands as a testament to that leadership and innovation."

CEO of GAAP, Jay Robinson, says "ERGO is a great example of how GAAP's programming and offerings serve as an effective foreign direct investment vehicle, harnessing the strengths of Saskatchewan and Canada and matching them with GAAP's sector specific expertise and experience. GAAP was excited to host ERGO in 2023 as a participant in Navigate and we are now thrilled to officially welcome them to the GAAP portfolio as they expand in Saskatchewan through our incubator."

Robinson notes that this investment underscores GAAP's commitment to advancing food technology and sustainability. "This funding will empower ERGO to innovate further, enhancing their solutions, and ultimately supporting food producers in meeting the growing global demand for food. By leveraging cutting-edge technology, GAAP aims to transform the food landscape and drive positive change for both producers and consumers alike."

Barbarini says, "This investment marks the opening of our offices and R&D capabilities in Canada. Being equipped with state-of-the-art technology for the development of cell lines will allow us to accelerate project execution times and significantly expand our capabilities. We see Canada, and Saskatoon in particular, as a thriving ecosystem of institutions and corporations that foster the development of our technology. The vision and expertise of the GAAP management team were instrumental in our strategic decision."

About GAAP

Founded in 2022, GAAP was established as a world-first facility dedicated to helping promising companies provide tangible solutions for Canada's agri-food stakeholders. We offer support through equity investment, customized incubator programs, access to workspaces, and fully equipped laboratories and greenhouses. This approach allows companies to reduce their capital expenditures and operational costs while concentrating on key growth areas. GAAP support is enhanced by its access to global networks, sector-specific training, and the broader Canadian ecosystem.
www.gaapvc.com

About ERGO

Ergo Bioscience (ERGO) is a startup focused on the production of complex animal proteins through plant cell cultivation. Plant meristematic cells can grow in bioreactors as rapidly as bacteria or yeast, but most importantly, they possess the same protein expression machinery as mammalian cells. Using advanced tools, the company can program plant cells to express complex animal proteins with high efficiency. Currently, ERGO has cell lines for the expression of myoglobin for use in plant-based meat products and caseins for use in plant-based dairy products. DNA sequences serve as the blueprint for cellular production of the desired protein. www.ergobiotech.com