Moolec targets first molecular farming Nasdaq listing

June 20, 2022 |

In the UK, molecular farming pioneer Moolec Science plans to list on the Nasdaq through a business combination with special purpose acquisition company (SPAC) LightJump Acquisition Corp.

Moolec develops animal proteins in plants using molecular farming, a scalable, affordable, and sustainable technology that produces animal proteins using plants as small factories.  The transaction sets Moolec’s proforma equity value at $504 million, assuming no redemptions from shareholders of LightJump. Upon closing, the combined company is expected to be listed on Nasdaq under the ticker symbol “MLEC”.

Moolec’s first two products—chymosin SPC, a bovine protein expressed in safflower that has curdling applications in the cheese industry and gamma-linoleic acid (GLA), a nutritional oil technology sourced from Bioceres Crop Solutions—both use safflower as a carrier crop.  

Moolec expects to become the first molecular farming foodtech company listed on Nasdaq. The transaction is expected to close in the second half of 2022. Cash proceeds will primarily be used to accelerate the commercialization of late-stage products, expand R&D and regulatory approval efforts, add personnel, and fund organic and inorganic growth opportunities.

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Category: Chemicals & Materials

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