TurtleTree believes it is one of the first biotech companies in the world with the ability to create milk from any mammal. Using their proprietary cell-based methods, TurtleTree hopes to shape the future of how humans source milk. To maximize impact, TurtleTree will work with industry leaders to adopt their sustainable and safe methods to create milk. As a result, TurtleTree hopes to reduce the environmental impacts of industrial farming by replacing dairy cows with a more environmentally friendly alternative.

TurtleTree is a private company headquartered in Singapore and is currently undergoing regulatory review of its products/methods by the Singapore Food Agency (see “Market and Regulatory Overview – Singapore”; see “Risk Factors”). Singapore has high food regulation standards and TurtleTree’s relationship with the Singapore Food Agency will help allow TurtleTree to accelerate going to market in this jurisdiction.

In the United States, TurtleTree is working with Sidley Austin LLP (leaders in novel foods regulation) to work with the U.S. Food and Drug Administration to go to market with TurtleTree’s corporate partners. Current feedback has been positive thus far, as TurtleTree’s products have obtained a bio-match with mammal milk and are considered a food grade product.

The capital invested by Eat Beyond will be allocated as follows: (i) 70% to fund payroll for the research and development of milk products; (ii) 20% to pay legal counsel for patent writing and intellectual property protection; and (iii) 10% to pay for equipment, supplies and other consumables for the research lab.