FlyBlast files for bankruptcy: ‘It became clear that the focus on cultivated meat was going to kill us’

FlyBlast files for bankruptcy: ‘It became clear that the focus on cultivated meat was going to kill us’

Belgium-based startup FlyBlast, which genetically engineers black soldier flies to produce insulin and other high-value proteins, has filed for bankruptcy. Led by Johan Jacobs, who had an insect farming company for 10 years (Millibeter, which was sold to the now-defunct AgriProtein in 2019), FlyBlast ultimately failed because its initial strategy of targeting the nascent—and cash-strapped—cultivated meat industry was too risky, and it was not ab…