On Jul 12, 2021 Biomilk attracted $2 million investments and agreed to collaborate with The Central Bottling Company, also known as Coca-Cola Israel, on research and development to expedite the arrival on the market of products based on cultured milk.

The Central Bottling Company is investing $2 million in Biomilk in exchange for an allocation of shares. Biomilk’s share price is up 7.75%, at NIS 5.35. At its opening price today, Biomilk had a market cap of NIS 223 million. Under the agreement, $1 million will be invested in Biomilk on the signing of a final agreement, and the remaining $1 million in accordance with milestones. For the initial $1 million investment, the Central Bottling Company will receive 522,000 shares in Biomilk, reflecting a price per share of NIS 6.4. The Central Bottling Company will also receive warrants with an exercise price of NIS 10.9 per share, exercisable within 24 months.

About the company: Biomilk is located in Israel. The startup is a groundbreaking food tech company that develops technology to produce cultured cow and breast milk. Biomlik shares are traded on the Tel Aviv Stock Exchange (TASE).  The company aims to produce 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 traditional product. BioMilk is also in the process of producing a lab-made replica for breast milk, which includes the production of complex carbohydrates found in human milk that support the development of the immune system.

The Central Bottling Company is a private Israeli maker and distributor of soft drinks, alcoholic beverages and dairy products. The firm has the Israeli franchise of Coca-Cola products from Coca-Cola International.

Company website: www.biomilk.com