CULT Food Science signs MOU with a medical food manufacturer
by CM Staff
Culinary medicine is core to Peqish's competitive strategy, which combines evidence-based medical science with cooking.
TORONTO — CULT Food Science Corp., an investment platform with a focus on cellular agriculture that is trying to advance the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, announces that it has entered into a Memorandum of Understanding with Peqish Group, Food & Hospitality Inc. with the intent to enter into a Strategic Collaboration Agreement. Pursuant to the basic terms outlined in the MOU, each entity has agreed to exchange CA$250,000 worth of each other’s common shares and to enter into a joint venture for the purpose of developing cellular agriculture food products that adhere to the guiding principles of culinary medicine as established by Peqish.
Culinary medicine is core to Peqish’s competitive strategy, which combines evidence-based medical science with cooking. Medical foods are those that are specially formulated and intended for the dietary management of a disease that has distinctive nutritional needs that cannot be met by normal diet alone. The Joint Venture is expected to pursue clinical trials to validate products developed by Peqish and CULT. Peqish has agreed to provide its insights, industry network and knowledge in the culinary medicine and clinical areas, as well as access to its team of clinical and scientific experts for the clinical trials, which both Peqish and CULT believe are vital in the process of developing new products. Conversely, CULT shall be responsible for design research, new ideation and validation, program management, recruitment and investment with respect to the Joint Venture.
The MOU also proposes that Dr. Marotta will join CULT’s scientific advisory board. As CEO of Peqish, Dr. Marotta is an experienced executive and serial entrepreneur with a demonstrated history of success. He has experience in business, operations, product development and science with a sound clinical understanding of Personalised Medicine, Drug and Biomarker Development, Health and Wellness (Food), Autoimmunity, Gastroenterology, Pathology and Oncology.