1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator is a flagship initiative designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program aims to foster the development and scaling of breakthrough innovations with high market potential, particularly in the DeepTech sector. It offers a combination of funding options, including grants and equity investments, to help these companies navigate the challenges of bringing their innovations to market.

Funding Structure

The EIC Accelerator provides significant financial support, up to €2.5 million in grant funding, for the development and commercialization of innovative projects. This grant component is non-repayable, making it particularly attractive for startups that require funding without the burden of future repayment.

In addition to grants, the EIC Accelerator also offers equity investments. Until 2024, companies can receive up to €15 million in equity funding, which can be crucial for scaling operations and expanding market reach. From 2025 onwards, this equity component will be capped at €10 million. This dual funding mechanism allows companies to leverage public funding alongside private investment, thereby attracting additional private sector capital.

Purpose and Impact

The primary purpose of the EIC Accelerator is to enhance the European DeepTech and startup ecosystem by providing tailored support to innovative companies. The program addresses the common challenges faced by startups, such as access to funding, market entry, and scaling operations. By combining grant and equity funding, the EIC Accelerator enables companies to de-risk their innovations, making them more attractive to private investors.

The program also plays a crucial role in bridging the funding gap in the innovation cycle, particularly for high-risk projects that have the potential to disrupt existing markets. By supporting companies through various stages of development, the EIC Accelerator contributes to the overall competitiveness and technological advancement of the European economy.

EIC Accelerator Winner: MULTUS Biotechnology Limited

MULTUS Biotechnology Limited, based in the United Kingdom, is a notable winner of the EIC Accelerator program. Their project, titled "Multus Media," focuses on enabling affordable and sustainable cultivated meat production through the development of a first-in-class growth medium.

Project Overview: Multus Media

The Multus Media project aims to revolutionize the cultivated meat industry by addressing one of its most pressing challenges: the cost and sustainability of growth media used in cell culture processes. Traditional growth media are often expensive and derived from animal products, which raises ethical concerns and limits scalability. Multus Biotechnology seeks to develop a novel growth medium that is both affordable and entirely plant-based, thereby facilitating the large-scale production of cultivated meat.

This innovative approach not only aims to reduce production costs but also aligns with the growing demand for sustainable food sources. By making cultivated meat more accessible, Multus Media has the potential to significantly impact the global food system, contributing to food security and sustainability.

Technology Background

Cultivated meat, also known as lab-grown or cell-based meat, involves the cultivation of animal cells in a controlled environment to produce meat products without the need for traditional animal farming. This technology is seen as a solution to various challenges associated with conventional meat production, including environmental degradation, animal welfare issues, and food supply chain vulnerabilities.

The core of Multus Media's innovation lies in its growth medium, which serves as the nutrient-rich environment that supports the growth and proliferation of animal cells. Current growth media often contain expensive and ethically contentious components, such as fetal bovine serum, which can drive up costs and limit scalability. Multus Biotechnology's research focuses on developing a completely synthetic, plant-based alternative that can provide the necessary nutrients for cell growth while being cost-effective and sustainable.

By leveraging advancements in biotechnology and materials science, MULTUS aims to create a scalable solution that can be adopted by cultivated meat producers worldwide. This innovation not only holds promise for the profitability of cultivated meat but also aligns with global trends towards sustainable food production and consumption.

Conclusion

The EIC Accelerator program plays a vital role in empowering innovative companies like MULTUS Biotechnology Limited to bring groundbreaking solutions to market. By providing substantial funding through grants and equity investments, the program supports the scaling of technologies that address pressing global challenges, such as food sustainability. The successful development of the Multus Media project exemplifies the potential of cultivated meat to transform the food industry and contribute to a more sustainable future.

2 The Funding Rounds

# MULTUS Biotechnology Limited: Funding and Financial Journey

MULTUS Biotechnology Limited is a UK-based startup at the forefront of the cellular agriculture industry, pioneering affordable growth media formulations and ingredients for cultivated meat production. The company has secured significant funding to advance its mission of enabling sustainable protein alternatives.

Funding Rounds and Financial History

Early Funding (2021)

In July 2021, MULTUS raised £1.6 million ($2.2 million) in early-stage funding. This round included investments from:

• SOSV
• Zero Carbon Capital
• Marinya Capital
• Angel investors Sake Bosch and Alvaro Martinez Barrio
• An equity-free grant of £106,000 from the UK Research and Innovation Council

This funding was earmarked to bring the company's first product, Proliferum M™, to market. This product was designed as a replacement for animal serum-based growth media to help cultivated meat companies develop cost-competitive products.

Series A Funding (2023)

In January 2023, MULTUS announced the completion of a significant Series A investment round totaling $9.5 million (£7.9 million). This funding round was composed of:

• Equity investment of approximately $7 million
• An equity-free grant of $2.5 million (£2.15 million) from Innovate UK through the European Innovation Council (EIC) Accelerator program

The Series A round was led by Mandi Ventures, with participation from several other investors:

• SOSV
• Big Idea Ventures
• SynBioVen
• Asahi Kasei

EIC Accelerator Grant

The $2.5 million grant from the EIC Accelerator was particularly noteworthy as it is described as "Europe's most competitive startup grant" with a success rate of less than 4%. MULTUS appears to have submitted its Step 2 proposal to the EIC Accelerator on March 23, 2022, before winning in the Step 3 interview stage and receiving this funding.

Investment Utilization

The Series A funding is being used to:

Company Valuation and Cap Table

While precise valuation figures are not provided in the search results, some ownership information is available:

• Kevin Pan: 16.17%
• Reka Tron: 16.17%
• Cai Linton (CEO): 16.17%
• Salida B.V.: 14.79%
• SOSV IV LLC: 12.48%
• Mandi LP: also holds a stake (percentage not specified)

Market Context and Potential

According to cited information, the cultivated meat industry is projected to become a $25 billion industry by 2030, with growth media being central to making cultivated meat products cost-competitive and scalable. MULTUS is positioning itself as a key enabler in this emerging industry by addressing one of its primary challenges - the cost and sustainability of growth media.

Exit Events

As of the available information, there are no records of MULTUS Biotechnology Limited having gone through an IPO, acquisition, or other exit event. The company appears to be in its growth phase, focusing on scaling operations and product development with its Series A funding.

Sources: - Multus Biotechnology announce a USD$9.5m Series A investment round to build a world-first growth media facility and enable affordable cultivated meat

• Multus Biotechnology closes $9.5M funding for cultivated meat
• Resources | Multus - Animal-free media that costs less
• Big Idea Ventures announces Investment in Multus Biotechnology
• £1.6M latest funding round will bring first product to market
• Multus company information, funding & investors | Dealroom.co

3 The Press Releases

Multus Biotechnology: Advancing Cultivated Meat Production Post-EIC Accelerator Funding Following its EIC Accelerator win in March 2022, Multus Biotechnology has made significant strides in reducing cultivated meat production costs through innovative growth media solutions. The company secured $9.5 million in Series A funding (including a $2.5M equity-free EIC grant) to build a UK production plant aimed at achieving price parity for cultivated meat.

Partnerships and Collaborations

• New Wave Biotech: Implemented AI-driven bioprocess optimization, achieving an 8.6X yield increase and 55% cost reduction for Multus’ growth factor purification systems through iterative machine learning modeling.
• Industry Endorsements: Partners like Quest Meat, Roslintech, and Jellatech praise Multus’ responsive support and food-grade media formulations optimized for scalability.

Technology Advancements

• Machine Learning & Automation: High-throughput ingredient screening combined with automated experiment planning reduces R&D timelines while improving formulation accuracy.
• Food-Grade Media: ISO22000-certified manufacturing ensures compliance with regulatory standards, backed by transparent performance data to eliminate trial-and-error approaches.

Manufacturing Expansion
In February 2024, Multus opened a facility capable of supporting 500 tonnes of cultivated meat annually, providing end-to-end media supply chain solutions to global partners. Its Proliferum® M serum replacement product already demonstrates efficacy across mammalian, avian, and seafood cell lines.

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Sources

• Multus Biotechnology closes $9.5M funding for cultivated meat
• New Wave Biotech's AI-Powered Optimisation Drives 55% Cost Reduction
• The Top 3 Challenges in Basal Media for Cultivated Meat
• Home | Multus - Animal-free media that costs less
• Big Idea Ventures announces Investment in Multus Biotechnology (Note: URL formatting error; corrected source is included below)
• Corrected Big Idea Ventures URL: Use primary references (Labiotech.eu or ProteinProductionTechnology.com) due to apparent typographical discrepancies. For direct Big Idea Ventures announcement, verify via their official channels or secondary sources cited above.

Primary correction: Original Big Idea Ventures link contains typos; replace with verified content from Protein Production Technology's coverage of the Series A round, though this URL also exhibits formatting issues. For accuracy, prioritize the Labiotech.eu article as the most reliable third-party source.

(Note: The domain "multis.###media" mentioned in the query does not resolve; all accessible data derives from multul##bio.)

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Key Clarifications on Sources

1. URL Discrepancies: Queried domain "multul##media" likely refers to "multul##bio," as no active ".media" domain exists per available data.

2. EIC Accelerator Details: Confirmed via multiple independent reports ([Labiotecheu], [BigIdeaVentures], etc.).

3. Recent Updates: Manufacturing facility launch (2024) and AI-driven yield improvements (March 2025) reflect ongoing progress post-EIC funding.

4 The Technology Advancements

Multus Biotechnology Limited: Post-EIC Accelerator Funding Advancements

Since securing EIC Accelerator funding in March 2022, Multus Biotechnology has made significant strides in scaling its animal-free growth media technology for cultivated meat. Below is a breakdown of their progress across key areas:

1. Technological Advancements and Product Launches

• Proliferum® B Serum Replacement: Launched in December 2024, this machine learning-developed product eliminates fetal bovine serum (FBS) from cell cultures, addressing cost and ethical concerns while maintaining performance across mammalian, avian, and seafood cells.
• AI-Driven Process Optimization: Partnered with New Wave Biotech to refine purification systems using AI-driven bioprocess modeling. This collaboration achieved an 8.6X yield increase and 55% cost reduction through iterative parameter optimization.
• ISO 22000 Certification: Achieved food-safe manufacturing compliance for growth media ingredients, ensuring scalability for commercial production.

2. Commercial-Scale Manufacturing Expansion

• World-First Production Facility: Constructed a UK-based plant funded by a $9.5M Series A round (led by Mandi Ventures) to produce affordable growth media at scale. The facility supports cultivated meat companies transitioning from lab-scale to pilot/commercial production.
• Proven Scalability: Proliferum® M (launched in late 2021) is now ISO-certified and validated for muscle, fat, and connective tissue cell cultivation across multiple species.

3. Market Validation and Collaborations

• Customer Engagement: Proliferum® B is currently available for sampling by cultivated meat producers seeking FBS-free solutions. While specific clients are unnamed, the company emphasizes partnerships aimed at reducing R&D timelines for industry players.
• Strategic Partnerships: Collaborated with Asahi Kasei Corporation (a Series A investor) on material innovation alongside SynBioVen and Big Idea Ventures.

4. Intellectual Property and Research Outputs

• Patent Filings: Though Multus holds three patents related to medical imaging per CB Insights data (see source), no recent filings directly tied to growth media formulations are publicly disclosed as of the latest updates[^]‡‡‡. However:
• Their proprietary platform combines automated ingredient screening with data science to design novel formulations—a likely trade-secret-protected process given its centrality to product launches like Proliferum® B.

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Sources Used († denotes post-March 2022 developments):

-Cultivated meat startup Multus raises £7.9m† -IndieBio's Multus Biotechnology raises $9.5M† -Multus sets up world-first growth media plant† -New Wave Biotech collaboration results† [March 2024] -Proliferum B launch announcement‡‡ [Dec 2024; archived via third-party summary] -Innovate UK EDGE case study on job creation/IP strategy† [April 2022]

Note: The CB Insights link () references an update mentioning the Proliferum B launch but does not host primary documentation; refer directly to Multus’ website or press contacts for technical specifications.

5 The Partnerships and Customers

Partnerships and Strategic Relationships of Multus Biotechnology Since securing EIC Accelerator funding in March 2022, Multus Biotechnology has actively pursued collaborations to advance its mission of enabling affordable cultivated meat production through innovative growth media solutions. Key partnerships include:

• New Wave Biotech: In December 2023, Multus partnered with New Wave Biotech to integrate AI-driven bioprocess optimization software into its production workflows. The collaboration aims to reduce R&D costs, accelerate ingredient discovery, and streamline precision fermentation processes for growth media components. This partnership is funded by an Innovate UK Engineering Biology grant.
• Opo Bio: Multus collaborates with Opo Bio, a cultivated meat producer, to optimize cell culture media formulations. Opo Bio’s CEO praised Multus’ high-throughput media development pipeline for delivering rapid results.

Investors and Supporters
Multus’ Series A funding round (£7.9M/$9.5M) included participation from Mandi Ventures (lead investor), Big Idea Ventures, SOSV, SynBioVen, and Asahi Kasei. These investors provide strategic support in scaling production capabilities and accessing global networks in alternative proteins.

Market Positioning Through Collaborations
The company leverages these relationships to:

Technological advancements are driven by automated lab systems combined with machine learning models that analyze ingredient performance across cell types (mammalian, avian, seafood)^.7. ISO 22000 certification ensures food safety compliance for large-scale manufacturing^.2.

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Sources

• Big Idea Ventures announces Investment in Multus Biotechnology
• Multus Biotechnology announce a USD$9.5m Series A investment
• Cultivated meat startup Multus raises £7.9m
• -
• -

(Note: Additional source URLs were truncated here due to redundancy; full list includes all cited URLs above.)

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Sources utilized reflect the most recent partnerships post-EIC Accelerator funding (March 2022), emphasizing technological collaborations since late 2023.

6 The Hiring and Company Growth

Multus Biotechnology Limited: Team Growth and Development

Current Team and Growth

Multus Biotechnology Limited, a UK-based company, has been actively growing since its inception. As of the latest available data, the company employs around 18 people and is categorized as a small-sized business. Following significant funding rounds, including an equity-free grant from Innovate UK, the company aims to expand its team, with expectations to double in size to approximately 25 people over the next 18 months.

Hiring and Recent Positions

Multus has been hiring across various technical and non-technical areas. Recent key positions include the appointment of Anirvan Guha as Chief Scientific Officer in April 2024 and Raya Ahmed as Lab Manager and Health & Safety Officer in October 2024. Additionally, roles such as Laboratory Technician and Research Associate have been filled by Laura Ferreira and Kevin Zhang, respectively.

Impact of New Team Members

The addition of these new team members is crucial for Multus's future growth and scalability. They bring diverse expertise that helps accelerate the development of advanced growth media formulations and enhances the company's manufacturing capabilities. This expansion supports Multus's goal of creating affordable, food-safe growth media at a commercial scale, which is vital for the cultivated meat industry's scale-up and cost reduction.

Management and Founding Team

The founding team includes Cai Linton as CEO, Réka Trón as COO, and Kevin Pan as CTO. There have been no major changes reported in the management structure since the founding. The team's stability is a significant factor in driving the company's mission forward.

Funding and Scaling

Multus Biotechnology received a significant funding round worth £7.9 million in early 2023, which is being utilized to build the world's first commercial-scale growth media factory for cultivated meat and dairy industries. This investment has been instrumental in accelerating product development and expanding manufacturing capabilities. The company also received an equity-free grant of £2.15 million from Innovate UK, further supporting its growth.

Future Prospects

The growth in team size and expertise positions Multus Biotechnology to play a pivotal role in the cultivated meat industry by providing essential components like growth media. This strategic expansion enhances the company's ability to scale up production, reduce costs, and make cultivated meat more accessible globally.

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Sources: - Multus Biotechnology - Brand Profile - Endole

• Multus Media - IndieBio
• 'World's first' growth media factory in the works for cultivated meat, milk
• Cultivated meat startup Multus raises £7.9m
• About | Multus

7 The Media Features and Publications

Overview of Multus Biotechnology Limited

Multus Biotechnology Limited, based in the United Kingdom, has been a significant player in the biotechnology sector, particularly in the cultivated meat industry, since receiving the EIC Accelerator funding in March 2022. The company focuses on developing affordable, animal-free growth media, which is essential for the production of cultivated meat.

Media Features and Publications

Multus Biotechnology has been featured in several publications for its innovative approach to growth media development. Notable mentions include articles in Vegconomist, highlighting the company's unveiling of the world's first commercial-scale production plant for serum-free growth media for the cultivated meat industry. Food Navigator has also covered Multus, discussing its efforts to innovate growth media for cost-competitive cultivated meat, emphasizing the replacement of fetal bovine serum (FBS) with plant-based alternatives. Additionally, Imperial College London reported on Multus' significant funding of £7.9 million to support further R&D and commercialization of its growth media products.

Podcasts and Interviews

The Multus team has participated in several podcasts and interviews. Cai Linton, co-founder and CEO, was featured in a podcast discussing enabling technologies for lab-grown meat and the challenges faced by the cultivated meat industry. Réka Trón, COO and co-founder, shared insights into team building, innovation, and leadership in the biotech sector in another podcast episode.

Conference and Fair Participations

Multus Biotechnology has actively participated in various conferences related to the cultivated meat industry. Cai Linton presented at a conference on "Cultured Meat: A New Era in Food Bioprocessing," discussing the reinvention of growth media for the cultivated meat industry. The company's involvement in such events highlights its commitment to advancing the field and collaborating with industry peers.

Involvement in Events

Multus is part of the UK's Cellular Agriculture Manufacturing hub (CARMA) and collaborates with organizations like the Alternative Proteins Association (APA), demonstrating its involvement in promoting sustainable food manufacturing and alternative proteins. The company's participation in these networks underscores its dedication to contributing to a more sustainable food system.

Sources

• Home | Multus
• About | Multus
• Multus Media | IndieBio
• Cultivated meat startup Multus raises £7.9m
• UK Biotech Multus Unveils World's First Commercial-Scale Serum-Free Growth Media Facility
• Cai Linton (Multus Biotech): Enabling technologies for lab-grown meat
• Dear Participants | IChemE
• Innovating growth media for 'cost-competitive' cultivated meat
• Scaling, Team Building, and Innovation at Multus