ORF Genetics raises US$7.5M as it scales up growth factor production
Company targets large-scale capacity increase through its barley-based platform
ICELAND – Icelandic food tech startup ORF Genetics is securing fresh investment to expand its work on specialised proteins used in cultivated meat production.
The company has raised US$5.8M in a new round from both existing and new investors to expand its capacity for molecular farming.
Chief executive Berglind Rán Ólafsdóttir said the financing comes at a turning point for the company and will support its next phase of growth.
Barley-based protein platform
ORF Genetics produces proteins by modifying plants to express animal protein sequences, a method known as molecular farming.
Its proprietary system, branded Orfeus, uses barley to produce recombinant animal and human proteins at scale.
The process begins with cloning the genetic code for a target protein into an expression vector, which is then introduced into barley embryos.
These embryos are grown into bioengineered plantlets through a controlled tissue culture process before being transferred into hydroponic cultivation systems.
The company then selects the barley lines with the highest protein expression for further expansion and harvest.
Cultivated meat applications
Through the Orfeus platform, ORF Genetics has developed a range of growth factors under the brand Mesokine, which are extracted from barley seeds.
The extracts include growth factors for cows, pigs, poultry and marine species, with additional barley proteins used to stabilise and extend their activity.
Australian cultivated meat firm Vow uses Mesokine for its cultured quail, which is being served in restaurants in Singapore and Australia.
ORF Genetics is also supplying growth factors to South Korea-based SeaWith, which is preparing to launch cultivated seafood pending regulatory approval.
Earlier this year, the two companies organised a tasting event for cultivated shellfish in Reykjavik, attended by government officials.
Expansion plans
The company intends to scale production of Mesokine by 14 times by 2027 and by a factor of 10,000 by 2032.
To reach these targets, ORF Genetics is extending the current investment round to raise a total of US$7.5M by the end of October.
Ólafsdóttir said the extension is aimed at attracting new backers as the company positions itself within a sector it sees as entering a commercial growth phase.
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