Geltor, Inc Update

Agronomics (LSE: ANIC), the leading listed company in the field of clean food, is pleased to announce that its portfolio company Geltor, Inc. ("Geltor") has received a 'No Questions' Letter from the US Food and Drug Administration ("FDA"), confirming the Generally Recognized As Safe ("GRAS") status of its PrimaColl® ingredient - the world's first biodesigned vegan collagen polypeptide.

Geltor is a California-based biodesign company producing sustainable, animal-free proteins through precision fermentation. This regulatory milestone enables the company to advance its commercial expansion into global nutrition and wellness markets.

Jim Mellon, Executive Chair of Agronomics, commented:

"This FDA recognition marks a pivotal moment for both Geltor and the broader field of sustainable protein innovation. Collagen is a multi-billion-dollar global market still dominated by animal-derived products. As demand continues to rise, PrimaColl represents a meaningful step toward producing this essential ingredient without dependence on industrial agriculture, offering a more ethical, traceable and environmentally responsible alternative. Agronomics see these kinds of biotechnological advances as key to building a more secure and resilient global food system, fully aligned with our mission to back companies driving the transition to clean, sustainable food."

Agronomics first invested in Geltor on 21 February 2022, and to date has invested a total of £7.2 million, which, subject to audit, is currently carried at approximately £237,617. This position represents around 0.16% of Agronomics' most recently reported Net Asset Value of £145.3 million as of 30 June 2025.

The full announcement is set out below, with no material changes:

Geltor's PrimaColl® Becomes First Biodesigned Collagen Polypeptide Cleared for Food & Beauty, Redefining Longevity Inside and Out

FDA GRAS clearance (no questions letter) and global topical availability position PrimaColl® as the first commercially viable biotech-derived collagen alternative spanning beauty, wellness, and nutrition.

Geltor, the leader in biodesigned proteins for beauty and wellness, today announced the commercial arrival of PrimaColl®, the first and only biodesigned collagen polypeptide available for both ingestible and topical applications. As the first collagen to be added to the FDA inventory since 1999, its FDA "Generally Recognized as Safe" (GRAS) clearance in the U.S. and worldwide topical availability, PrimaColl® represents a major milestone for the collagen category and a turning point for science-backed longevity ingredients.

PrimaColl® is designed to mimic an amino acid sequence of avian Type 21 collagen, making it ideal for food and nutrition applications. First introduced in 2021 and successfully scaled to full commercial production in 2022, PrimaColl® has already proven the industrial viability of biodesigned proteins. Now, with FDA clearance and large-scale economics, PrimaColl® delivers a single collagen solution across two massive markets - food & beverage and beauty & personal care.

Why PrimaColl® Matters Now

InsightAce Analytic values the beauty ingestibles market in 2024 at $4.2 billion, underscoring the accelerating demand for beauty-from-within solutions where PrimaColl® is uniquely positioned to lead.

Consumers are increasingly seeking proactive, science-backed solutions that support living better for longer. Collagen sits at the center of this movement. PrimaColl® offers brands and consumers a future-proof alternative, with precision design, high purity, reliable, and consistent supply.

• Ingestible: Clinical studies have shown that daily consumption improves skin elasticity, firmness, and moisturization, while also reducing wrinkle depth.
• Topical: Shown to promote collagen and support skin renewal. For hair, it enhances hair manageability via film-forming properties that reduce frizz and resist humidity. Available globally for beauty and personal care applications.
• Inclusive & Sustainable: Produced through precision fermentation, PrimaColl® is 100% animal-free, certified Vegan, Halal, Kosher, and non-GMO.

"PrimaColl® has received the FDA's 'no questions' response to its GRAS notification, making it the first biotech collagen to achieve this milestone. With its proven scalability and ability to serve both food & beverage, as well as beauty & personal care applications, it represents a pivotal step forward at the intersection of beauty, wellness, and longevity. I am excited to see the transformative products our partners will create with it," said Alex Lorestani, CEO and Co-founder of Geltor.

Availability

PrimaColl® is now open for sampling and formulation. Brands and formulators can experience it firsthand at California Suppliers' Day, October 29-30, Booth #479, schedule a meeting at sales@geltor.com, or request samples at www.geltor.com/primacoll.

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