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CULT Food Science signs MOU for Strategic Collaboration with Medical Food Leader – Canada NewsWire

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The company is working to enter into a strategic partnership agreement with Peqish Food Company, with a Joint Venture, clinical trials and innovations in culinary medicine through cellular agriculture as its primary intended results

TORONTO, August 11, 2022 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform with an exclusive focus on cellular agriculture that promotes the development of new technologies to provide a sustainable, environmental and ethical solution to the global factory farming and aquaculture crises, is pleased to announce that it has entered into a Memorandum of Understanding (the “MOU“) with Peqish Group, Food & Hospitality Inc. (“Baking“) with the intention of entering into a Strategic Cooperation Agreement (the “AgreementAccording to the basic terms described in the MOU, each entity has agreed to exchange CA$250,000 worth of common shares and enter into a joint venture with the goal of developing cellular agriculture food products that adhere to the guiding principles of culinary medicine as established by Peqish (the “Joint venture“).

Culinary medicine is the core of Peqish’s competitive strategy, which combines evidence-based medical science with cooking.1 Medical foods are those specially formulated and intended for the dietary management of a disease that has distinct nutritional needs that cannot be met by normal diet alone.2 The Joint Venture is expected to conduct clinical trials to validate products developed by Peqish and CULT. Peqish has agreed to provide its insight, industry network and knowledge in the culinary medicine and clinical areas, as well as access to its team of clinical and scientific experts for the clinical trials, which both Peqish and CULT believe are vital to the process of development new products. Conversely, CULT will be responsible for design research, new ideas and validation, program management, recruitment and investment with respect to the Joint Venture.

The MOU also proposes that Dr. Marotta becomes a member of the scientific advisory board of CULT. As CEO of Peqish, Dr. Marotta is an experienced executive and serial entrepreneur with a demonstrated history of success. He has experience in business, operations, product development and science with a good clinical understanding of Personalized Medicine, Drug and Biomarker Development, Health and Wellness (Food), Autoimmunity, Gastroenterology, Pathology and Oncology.

Peqish was founded by Dr. Anthony Marotta and Dr. Kenneth To, who are two scientists who wanted to create a platform of healthy food that is high in quality, prevents and treats disease and restores well-being. With the rise of food-related illnesses, the founders believed it was time to make a change and also start educating people around the world to make healthier food and drink choices and inform consumers about the importance of nutritious food and reliable scientific food information.

In addition to the patents and other intellectual property (“IP“) that are expected to arise as a result of the agreement and its clinical trials, CULT has previously announced the submission of three patents related to innovations in cellular agriculture. The company and its affiliates, through the license agreement with Cella Food Systems Inc. (“Cell“), also has the non-exclusive right to use Cella’s IP portfolio for 15 years. Developing IP on its own, directly with Peqish and Cella, and also indirectly through the enterprises in which it has invested is a core strategic pillar of the Company.

Management commentary

“The signing of the MOU with Peqish is expected to result in a definitive Strategic Cooperation Agreement in the near future. The importance of working together to conduct clinical trials is paramount if we want to discover new medicinal foods rooted in cellular agriculture,” said Lejjy Gafour, Chief Executive Officer of CULT. “By working with Cella, Peqish and others to create innovative cell-based products, we feel that CULT and its affiliates will ultimately help alleviate the food safety and supply chain issues currently plaguing the world,” added Mr. Gafour.

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform with an exclusive focus on cellular agriculture that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global factory-building crisis. The first of its kind north americaCULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or foreign cultured meat, cell-based dairy and other cultured food companies around the world.

Additional information can be found by viewing the company’s website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.

On behalf of the board of directors of the company,

The company CULT FOOD SCIENCE CORP.

“Lejjy Gafour”
Lejjy Gafour, Chief Executive Officer

Forward-looking information:

Information set forth in this news release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future operating and financial performance, and often include words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend” , statements that an action or event “may”, “could”, “might”, “must” or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or other future events, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements statements. Such factors include, but are not limited to, the following risks: those associated with the marketing and sale of securities; the need for additional funding; reliance on key personnel; the potential for conflicts of interest between certain officers or directors with certain other projects; and the volatility of common stock price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions as of the date the statements are made and, except as required by law, the company assumes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances must exchange money. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the company’s MD&A and other disclosure filings with the regulators which can be found at www.sedar.com.

Endnotes:

  1. “About us”, Peqish Food Company, 2022,
  2. “Medical food”, Wikipedialast edited on June 2, 2022access to August 7, 2022,
  3. “Dr. Anthony MarottaPhD”, Linkedin, 2022,

SOURCE CULT Food Science Corp.

For further information: Tel: +1 (833) HEY-CULT (+1 (833) 439-2858), Email: [email protected]; For French inquiries about CULT Food Science: Maricom Inc., Tel: (888) 585-6274, Email: [email protected]Web: www.CULTFoodScience.com, Twitter: @CULTFoodScience

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