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Food Regulators To Share Oversight of Cell-Based Meat (#GotBitcoin)

Regulators’ decision raises prospects for cell meat coming to market.

Two U.S. food regulators agreed to share oversight of meat grown from animal cells, moving the emerging technology closer to consumers’ dinner plates.

The U.S. Department of Agriculture and the Food and Drug Administration will jointly oversee cell-culture meat technology, senior officials said Friday. The decision settles a debate between agency officials over which department would regulate the technology, which has drawn investments from major meat companies and skepticism from cattle ranchers and hog farmers.

Cell-based meat is produced using poultry and livestock cells that have the ability to self-renew. Those cells are placed into bioreactor tanks, where they are fed nutrients and oxygen, helping muscle tissue to grow. In a matter of weeks, developers say, the tissue can be harvested as meat and formed into products ranging from beef meatballs to chicken strips.

Regulation of the technology had been in question, with both USDA and FDA officials asserting jurisdiction over it this year.

Startups like Memphis Meats Inc., Mosa Meat, Finless Foods Inc. and Aleph Farms are pursuing the technology, working to lower per-pound costs from tens of thousands of dollars to a range that interested consumers would consider.

In a statement, USDA Secretary Sonny Perdue and FDA Commissioner Scott Gottlieb said the FDA will oversee cell collection, cell banks and cell growth in meat production. When cells are harvested, the USDA will regulate production and labeling of meat and other products made from the cells. The agencies will share information as they fine-tune the regulatory process, they said.

“This regulatory framework will leverage both the FDA’s experience regulating cell-culture technology and living biosystems and the USDA’s expertise in regulating livestock and poultry products for human consumption,” the officials said in the statement.

They said new legislation to regulate the technology is unnecessary.

Uma Valeti, chief executive of Memphis Meats, said the move “provides a clear path to market for cell-based products.

The regulators’ joint approach will help the U.S. stay at the forefront of the technology as companies in Israel, Japan and Singapore also pursue it, said Jessica Almy, policy director for the Good Food Institute, a Washington group promoting meat alternatives.

“We look forward to the day in the not-so-distant future when American families will be sitting down to a dinner of meat made directly from cells,” she said, “courtesy of this new industry that Commissioner Gottlieb and Secretary Perdue made possible.”

Livestock producer groups have called for the USDA to regulate the cell-cultured meat products, and maintain a level playing field with traditionally raised beef, pork and poultry. “This announcement that USDA would have primary jurisdiction over the most important facets of lab-produced fake meat is a step in the right direction, but there’s still a lot of work to do on this issue to ensure that real beef producers and consumers are protected and treated fairly,” said Colin Woodall, government affairs head for the National Cattlemen’s Beef Association.

Cell-cultured meat developers are part of a new wave of alternatives to traditional meat production, appealing to consumers’ concerns over the environmental impact of cattle feedlots and hog manure lagoons, the billions of tons of feed grains they consume each year, as well as treatment of livestock and poultry.

Startups also are promoting a new generation of plant-based products aiming to better mimic the texture and taste of meat. Beyond Meat Inc., which sells plant-based burger patties and chicken strips, on Friday filed for an initial public offering that would raise $100 million, and disclosed $32.6 million in 2017 sales.

Updated: 5-6-2019

Beyond Meat Ceo Wants To Make Traditional Protein From Animals ‘Obsolete’

Beyond Meat shares jumped in Friday trading after soaring 163% on Thursday for the biggest U.S. IPO since 2000.

Beyond Meat Inc.’s Chief Executive Ethan Brown has a lofty goal for his plant-based meat product: he wants to replace traditional animal meat entirely.

“We want to make the existing product on the shelves obsolete,” Brown told MarketWatch after the company’s IPO.

Beyond Meat aims to “separate meat from animals” and position the newly-public business as a global protein company.

Beyond Meat shares priced at $25 on Wednesday and began trading Thursday on the Nasdaq at $46. Prices neared $73 at their intraday peak. Beyond Meat closed at $65.75 Wednesday.

Brown says there are four factors that are driving consumers to Beyond Meat: health, climate (such as worries about emissions), environment (such as sustainability) and animal welfare.

For those ages 40 and older, Brown says the health implications are the biggest reason consumers are making the transition. For millennials, who are driving increased vegetarian, vegan and plant-based dining, the environment is the biggest reason.

“It’s ubiquitous on social media,” Brown said. “It’s not foreign to them to get ‘meat’ from plants.”

Beyond Meat faces competition from companies like Boca Foods, Gardein and Morningstar Farms. And there are plant-based meal kits like Purple Carrot, which got a $4 million investment from Fresh Del Monte Produce Inc. in May.

Increased interest from diners is also driving more plant-based and vegetarian options to fast-food chains that are best-known for beef burgers. Burger King, part of the Restaurant Brands Inc. portfolio, just announced that it will be taking the meatless Impossible Whopper national later this year after successful pilot testing. And major food companies like Conagra Brands Inc. are adding choices for those with alternative dining preferences, including vegan and plant-based.

Meat producers Tyson Foods Inc. are also looking at different ways of creating protein, like “recycled” crisps and meat produced in a lab.

“With 60% of U.S. consumers telling NPD they want to get more protein in their diets, consumers are mixing both meat and plant-based proteins into their diets,” wrote NPD Group in a June 2018 report. At that time, 14% of U.S. consumers, or 43 million people, said they regularly used almond milk, tofu, and other plant-based alternatives.

Now that Beyond Meat is public, Brown said the company will focus on its Go Beyond campaign, which currently features basketball star Chris Paul as an ambassador.

“We sought to go public slightly earlier, but the government shutdown, markets and life just got in the way,” Brown said. “Now this is the right step for us.”

Beyond Meat shares are up 4.4% in Friday trading. The S&P 500 index SPX, +0.89% is up 1% in Friday trading, and has rallied 17.5% for the year to date.

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