Multus and the EIC Accelerator: Lab-Meat Media Turns to Pharma

Cells grown for cultivated meat need a growth medium, a nutrient broth, and Multus Biotechnology's EIC project was about making it affordable and sustainable. The company was founded in 2020 by scientists and engineers from Imperial College London and is based at Imperial's White City campus. It designs cell culture media with AI and robotics, according to its website.

At the March 2022 cut-off the European Innovation Council selected Multus for a grant. No Horizon Europe grant appears on CORDIS; instead the company said in January 2023 that its $9.5 million Series A, led by Mandi Ventures, included a $2.5 million "equity-free grant from Innovate UK" awarded through the EIC Accelerator, and would fund a growth media production plant. Its filed accounts at Companies House show losses of £1.87 million in the year to March 2025 and £2.54 million in the year to March 2026.

Where Multus Stands Now

In July 2025 Multus launched Proliferum P, which it called the first commercially available animal component-free serum replacement for porcine fat stem cells. A month earlier it announced it was expanding into advanced therapy manufacturing, developing media for cells used to make antibodies, viral vectors and CAR-T therapies. Its website now lists advanced therapies and biologics alongside cellular agriculture. It has not published turnover or customer numbers.

The Technology: Cheaper Broth for Cells

Multus says most cell culture media in use still rely on formulations developed over 60 years ago, and uses automated experiments and machine learning to design new ones. In January 2024 it joined Quest Meat and University College London in a £1 million Innovate UK project to replace bovine serum and provide edible scaffolds for cultivated meat. The company has not published the cost per litre of its media or how close it has come to food-grade prices.

What the EIC Award Promised, and What the Record Shows

The award was for "a first-in-class growth medium" to make cultivated meat affordable and sustainable. There is no EU project record on CORDIS. The company launched media products and an ingredient partnership, but it has not shown a price reduction that would make cultivated meat affordable, and it now presents itself as a supplier to biopharma as well.

1. Commercial growth mediumLaunchedProliferum P, 2025.
2. Affordable cultivated meatNot shownNo cost data.
3. Production plantNot confirmedNo public update.
4. EU project recordNoneInnovate UK, per company.

The Money

Multus files abridged accounts without a profit and loss account, but its statement of changes in equity shows the losses. Accumulated losses rose from £4.08 million to £6.62 million in the year to March 2026. It received £2.11 million and then £384,198 under advance subscription agreements, money from investors that converts into shares later. Cash fell from £4.33 million to £3.13 million.

What Cannot Be Checked

Why Europe Should Care

The EIC selected a UK company working on cultivated meat. The company says the grant came from Innovate UK rather than the EU budget, and the company is now also pursuing pharmaceutical customers.

The Verdict

Multus and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.