Moolec Science SA

Good morning and welcome to Mulek Science's second quarter 2024 conference call. My name is Stefania Shepkov of ICR Strategic Communications and Advisory. During this conference call, all participant lines will be muted until after the management's remarks when there will be a question and answer session. Please also note that today's session is being recorded. Today, Mulek announced its second quarter fiscal year 2024 business highlights. The document is now available on the company's investor relations website at ir.mulekscience.com. This morning, you will be hearing from Gaston Palladini, Chief Executive Officer and co-founder of Mulek Science, together with Jose Lopez-Lacube, Chief Financial Officer, and Amit Dhingra, Chief Science Officer. Hank Hugenkamp, Chief Product Officer, will also be joining the subsequent question and answer session to be held immediately after the business update remarks. In today's call, we will be referring to a presentation that is available on the company's investor relations website. Moving on to slide two. This conference call is mainly for informational purposes. And during this call, the company will be making forward-looking statements regarding future events and results, which are not historical facts and include, but are not limited to, statements about the company's beliefs and expectations. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks are included in the company's annual report on Form 20F filed with the SEC, also available on the company's investor relations website. Now, moving to slide three, I would like to turn the call over to MULEC's CEO, Gaston. Please go ahead.

Thank you, Stephanie, and good morning, everyone. I am glad to present to our attending audience our last business update. As we have been doing over the last couple of conferences, today's agenda will address three different topics. First, I will give a quick review of Bullock's strategy pillars for value creation. Second, Amit will walk you through our last scientific and operational developments. And finally, Jose will present our financial highlights from Q2. Here, I would like to take the opportunity to introduce our framework for value creation. Let's move now to a slide five. This framework not only organize, but also illustrate the way in which we are creating value for all of our stakeholders. we have refined our current business strategy into four foundational pillars. Allow me to provide a more detailed overview. Number one, product development. This pillar includes research and development, product creation and improvement, and associated processes to ensure the highest standard of food and environmental safety and quality. Our primary focus is on developing disruptive solutions using innovative technology for the food industry. Number two, patent portfolio. Our strategy objective is to evolve into an IP powerhouse. R&D is feeding our portfolio and will incorporate a wide spectrum of patents that covers methods, processes, and applications. We continuously screen the market to identify the most valuable geographic areas for our IP efforts, ensuring our assets align with market demands. Third, regulatory pathway. We possess deep knowledge and expertise in navigating regulatory approval processes, such as those with the FDA and the USDA in the United States, among, of course, other territories as well. Our objective is to navigate the regulatory landscape swiftly and efficiently, maintaining compliance while minimizing time to market. Number four, strategic alliances. Building a strategic partnership with leading industry players is crucial to accelerate and complement our business. These alliances are pivotal for the exchange of technology, expertise, and industrial processes, ultimately enhancing our competitiveness in the market. This framework is our roadmap for planning and execution, providing a comprehensive and focused approach to achieving our objectives. Before I hand over to Amit to discuss operational progress, let's move to slide number six, where we will examine the status of our pipeline. As illustrated, most of the projects maintain their status with notable internal progress in GLASSO and SOIL-1. However, I would like to highlight the exceptional advancement in year one project, specifically in progression in product development. Now I leave you with Amit Dhingra, Murex Chief Science Officer, who will provide a true overview of our technical and operational advancement.

Thank you, Gaston. Greetings to all of you. We will move now to slide eight. I'm excited to present our technical and operational milestones. We continue to make progress on our PiggySwipe platform. We are getting ready to harvest the fourth generation or T4 seeds in April this year. In the meantime, our team performed analysis on the stability of the porcine myoglobin gene, The gene is no longer segregating, which means that it is genetically stable in the selected lines. I am also excited to share that the integration of the bovine myoglobin gene has now been confirmed in several first generation T1 or second generation T2 seeds, indicating that the myoglobin gene is being stably integrated across the generations. Moving now to slide nine, I'm excited to provide an update on Mulex prototyping division using our novel yeast platform. Our objective is to identify high value applications for a yeast strain that's new to the food industry. This platform not only finds value for a novel microorganism, but also paves the way for future target molecules to be economically viable by distributing overhead costs across multiple products. Specifically, we have found traits in this yeast strain which allowed us to adapt standard processing techniques to produce an iron supplement that's novel to the market. Preliminary data is promising, indicating that this supplement could approach the efficacy and cost efficiency of traditional animal-derived nutritional supplements, particularly in terms of iron absorption. A regulatory pre-submission meeting was held with the FDA. We feel encouraged to continue our efforts. On to slide 10. Our immediate focus is on scaling our production. We plan to produce successive batches at the pilot level, ultimately increasing the capacity to 1,000 liter batches. These larger batches will allow us to create standardized prototypes, which will be thoroughly characterized. The insights gained from the characterization will be instrumental in finalizing our safety dossier and more precise cost computations. Additionally, we aim to leverage any surplus material by offering our samples to potential partners and stakeholders. Now, I will pass on the presentation to my colleague and our CFO, Jose. Thank you.