American food giant Smithfield has launched a biosciences arm with a remit to find new ways of using by-products to advance medical health.
The multi-billion dollar company will use the new Smithfield Bioscience initiative to step up its work with pharmaceutical and nutraceutical companies, who use its by-products – derived from the meat production process – to make drugs for a variety of issues.
Smithfield Bioscience will allow the company to enter new areas of biotechnology, where it will help in developing manufacturing solutions and processes for organ development and regenerative medicines.
“Our commitment to innovation and sustainability stretches across all aspects of our company,” said Kenneth Sullivan, president and CEO of Smithfield Foods. “Smithfield Bioscience reflects these same values by finding new uses for byproducts that benefit the health and well-being of others.”
It is already working with 100 stakeholders: pharmaceuticals, technology organisations and academia, in the public-private Advanced Regenerative Manufacturing Institute (ARMI) “to develop next-generation technologies and manufacturing processes for cells, tissue and organ development,” the company said.
“Smithfield is a longstanding leader in sustainability and renewables with a broad geographic presence and strong manufacturing expertise. With these capabilities, our vertical integration and a reputation for transparency and quality, Smithfield Bioscience is well-positioned to help the U.S. medical and pharmaceutical industry achieve significant, scalable developments in biologics,” added Courtney Stanton, vice president of the new Bioscience Group for Smithfield Foods.