Management of Foodtech Company, Biomilk, Opens Trading in Celebration of its IPO on TASE

Tel Aviv, April 18, 2021 - Management of Biomilk opened trading this morning in Celebration of its IPO on TASE.

Biomilk is included in TASE's Technology Sector, which comprises 110 companies with a total market cap of NIS 217 billion. 8 foodtech companies and partnerships are currently listed on TASE, reflecting the substantial local and global growth of this sector with the rising demand for alternatives to the existing conventional food products.

Biomilk, a foodtech company established in 2018, has developed a technology for the production of lab-cultured cow milk from mammary cells, and is currently developing laboratory-produced breast milk replica, including the production of complex carbohydrates found in breast milk that support the development of the immune system. The aim of the company's technology is real milk that approximates the composition of commercial cow milk, free of synthetic or plant additives, and with a lower hormones and antibiotics content than that of the traditionally milked product.

This last February, the company completed its merger and the infusion of its activity into Fantasy Network company, as part of which 65% of the capital was allotted to the shareholders of Biomilk. The current market cap of the company is NIS 270 million.

On April 5, 2021, the shares of the company shares joined TASE's TA-Growth, TA-Technology and TA-Global BlueTech indices under the seasoned shares' fast-track entrance.

Tomer Aizen, CEO of Biomilk, said: “We are proud and thrilled to be joining TASE as a leading research and development company and a pioneer in both the financial and the scientific aspects of our field. This is a significant milestone towards the achievement of the company's goals of accelerating the professional introduction of Biomilk's technology and making our cultured milk and breast milk products available to the local and the global market. Our novel technology facilitates the production of lab-cultured milk using the animal's mammary cells only, making milking redundant. These cultured components can then be used to produce any existing dairy product, while maintaining nutritional values and reducing the carbon footprint. The aim of our technology is real milk that approximates the composition of commercial cow milk, free of synthetic or plant additives, and with a lower hormones and antibiotics content than that of the traditionally milked product. The investor confidence that we are able to enjoy on TASE will allow us to enhance out development capabilities and bring forward groundbreaking solutions to the local and the global market."

Anat Geron, Listing Companies Compliance Unit Manager at TASE, said: “We are pleased to have Biomilk join the TASE family and look forward to seeing more companies of all sectors and sizes grow on TASE. As home of the Israeli economy, we believe that TASE is the natural venue for the development of pioneering companies, bringing together listed companies and investors looking to benefit from their success. We wish the company management and employees  the best of success, which will benefit both investors and the foodtech sector."

In the picture from right to left: Asaf Abramov, Legal Counsel of Biomilk; Yaron Kaiser, Founder of Biomilk; Dr. Merav Beiman, VP R&D at Biomilk; Prof. Maggie Levy, Founder of Biomilk; Nathaniel Benchemhoun, VP Business Development at Biomilk; Dr. Kobi Buxdorf, Founder of Biomilk; Dr. Nurith Argov-Argaman, Founder and CTO of Biomilk; Tomer Aizen, CEO of Biomilk; Anat Geron, Listing Companies Compliance Unit Manager at TASE and Ittai Ben Zeev, CEO of TASE.