Cellibre Closes a Bridge Financing to Accelerate Production of Cannabinoids through Fermentation

Cellibre Inc., a leading cellular agriculture company that employs an organism-agnostic approach to turn cells into specialized, sustainable factories for the manufacture of globally significant products at scale, today announced the close of an oversubscribed financing round. The round was led by the founders, existing investors Delta Emerald Ventures, Flatiron Venture Partners and Bravos Capital, and includes new investors Merida Capital, L2V and the Arcview Collective Fund.

Cellibre's initial strategic focus is deploying its expertise to revolutionize the way cannabinoid-based products are sourced, produced, and consumed. The significant deficiencies throughout the current cannabinoid supply chain, the resource requirements in the agricultural process and the evolving regulatory environment globally provide Cellibre an immense opportunity to transform a $100+ billion market via the production of high-quality, sustainable, pure, medical-grade cannabinoids. Cellibre is deconstructing the plant into its individual components, enabling innovators and brands to scale and commercialize an almost limitless number of products sustainably and consistently, thus delivering a better experience to their customers and patients.

"In short order, the Cellibre scientific leadership assembled a truly world-class team and built out a state-of-the-art lab with complete capabilities from analytical to fermentation to biochemistry to molecular biology." said Dr. Nicky Caiazza, founder and chief scientific officer of Cellibre. "The team then deployed this infrastructure to develop novel and proprietary technologies that have allowed us to, in less than a year, produce cultured cannabinoids."

Products derived from cellular agriculture have several significant advantages over legacy manufacturing processes including sustainability, consistency, purity, improved economics, and scalability. Cannabis is a unique consumer category because, while delivering consistent flavor and aroma is important, a consistent experience with these products is equally if not more critical, especially in regulated markets. Cellibre's novel technology will allow brands to deliver on the promise of a consistent experience, regardless of geography or scale.

"Executing on a financing round amidst this macro environment is a testament to the team's execution and progress on their platform" said Ian Dominguez, Principal at Delta Emerald. "This bridge facility will allow Cellibre to approach full commercialization of their cultured-cannabinoid platform thus increasing access and enabling innovation around these important medicines."