Eat Beyond Portfolio Company TurtleTree Attracts Leading Cellular Bioprocessing Scientist

Rhea-AI Summary

Eat Beyond Global Holdings Inc. has appointed Dr. Aletta Schnitzler as the Chief Scientific Officer of its portfolio company, TurtleTree. Dr. Schnitzler brings 25 years of experience in laboratory science and has a proven record in cultured meat innovation. She will lead TurtleTree's cellular agriculture initiatives, focusing on enhancing R&D. Her expertise in developing cost-effective cell culture technologies is expected to be vital for achieving price parity with traditional animal products, thereby supporting the industry's growth.

Positive

• Appointment of Dr. Aletta Schnitzler adds significant expertise in cellular bioprocessing.
• Dr. Schnitzler's experience in cultured meat innovation is expected to strengthen R&D efforts.

Negative

• None.

TurtleTree appoints Dr. Aletta Schnitzler as Chief Scientific Officer

VANCOUVER, BC, Dec. 8, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced that its portfolio company TurtleTree has named Dr. Aletta Schnitzler its Chief Scientific Officer. Dr. Schnitzler has nearly 25 years of academic and professional experience in laboratory science research and development, including specialized experience in cellular bioprocessing.

Dr. Schnitzler has a successful track record working specifically with cultured meat innovation including research and development, manufacturing, product development, and business development. She will be responsible for directing TurtleTree's cellular agriculture plans working closely with all branches of the team to enhance global R&D efforts.

TurtleTree is a Singapore-headquartered biotechnology company that is using cell-based technologies to create sustainable food and dairy, including the production of valuable milk ingredients such as lactoferrin.

"Dr. Schnitzler will be a tremendous asset to the already impressive TurtleTree team," said Michael Aucoin, CEO of Eat Beyond. "TurtleTree continues to attract world-class talent with the company's bold technology and vision. In particular, we are excited to add someone to the team with her experience developing cost-effective cell culture media and reagents. This is a significant area that will help cultured products to ultimately reach price parity with animal-based products. This will be key to the viability of the industry."

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About Eat Beyond Global Holdings

Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/

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The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described in the risk factors in the Prospectus, and the schedules attached thereto, that are available on the Company's profile on SEDAR at www.sedar.com.

Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

Who is Dr. Aletta Schnitzler in relation to Eat Beyond Global Holdings Inc.?

Dr. Aletta Schnitzler has been appointed as the Chief Scientific Officer of Eat Beyond's portfolio company, TurtleTree.

What is the focus of TurtleTree, the company under Eat Beyond Global Holdings?

TurtleTree focuses on cellular agriculture, creating sustainable food and dairy products using cell-based technologies.

What is the significance of Dr. Schnitzler's appointment for the cultured meat sector?

Her role is vital for enhancing R&D and developing cost-effective cell culture media, which could help cultured products achieve price parity with animal-based products.

What date was Dr. Aletta Schnitzler appointed as Chief Scientific Officer?

Dr. Aletta Schnitzler was appointed on December 8, 2021.

What does Eat Beyond Global Holdings Inc. do?

Eat Beyond Global Holdings is an investment issuer focused on the global plant-based and alternative food sector, making equity investments in innovative food tech companies.