Listed BSF Enterprise has raised £15 million equity fundraise as it looks to accelerate commercialisation across its three core technology areas – lab-grown leather, corneal repair and cell culture media supplements.
The fundraise is backed by Blackstone Mercantile Group, which the Newcastle-based company described as a major milestone in executing its growth strategy.
The new capital is intended to fast-track the rollout of its tissue-engineered materials portfolio, with investment targeted at scaling products, strengthening IP and deepening partnerships across its subsidiaries.
A significant portion of the funding will go towards expanding BSF’s lab-grown leather (LGL) technology.
This includes the commercial launch of Elemental X, a proprietary platform designed to integrate bioengineered cellular structures into new leather applications.
The company also plans to bring its first revenue-generating LGL products to market, initially targeting the ultra-luxury segment and pursuing direct sales with design-led partners.
BSF added that investment will be used to deepen commercial relationships, expand its intellectual property portfolio and recruit and retain key scientific, commercial and operational talent.
Around £500,000 of the raise will be allocated to BSF’s corneal repair subsidiary, Kerato, to support a liquid cornea veterinary trial alongside a Canadian government grant that will cover 50% of the required funding.
Kerato expects to begin collecting animal data in early 2026, with the grant also supporting medical device advancement and early regulatory engagement.
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Funding will also support 3D Bio-Tissues’ (3DBT) growth in food-safe cell culture media components.
The business said the investment will help drive marketing and sales of CytoBoost REVIVE – a recently launched media additive designed to restore biological materials from low-temperature storage.
CytoBoost REVIVE has shown the ability to improve cell revival post-cryostorage by up to 100%.
BSF also said it is in active discussions with prospective acquisition and joint-venture targets.
The company sees M&A as a route to speed up innovation, widen its technological footprint and strengthen its commercial pipeline.
“We are hugely excited by the potential Blackstone Mercantile Group’s investment provides to BSF’s subsidiary companies,” said BSF CEO, Che Connon.
“The funds will accelerate the commercial and technological roadmaps of LGL, Kerato and 3DBT and will support their further independent fundraising activities during 2026.
“In addition, they provide the resources to allow BSF to deliver against its strategic goals to acquire, invest in, or enter joint ventures with promising complementary companies to expedite their development and time-to-market. We look to the future with renewed confidence and enthusiasm.”
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