Dutch health ingredients company NutriLeads has closed a €6.5 million (US$7.7 million) Series B financing round, with contributors including DSM Venturing. Marking “a new phase for the company,” the second round of funding will specifically help commercialize Xtramune, the company’s flagship ingredient, to the US market by 2021. The carrot-derived fiber is touted as supporting immune function and resistance to respiratory infections.
“We unlock the goodness of crops by transforming natural compounds into sustainable, innovative ingredients with proven health benefits. We also partner with food and dietary supplement companies to bring our ingredients to the consumers,” Erik Dam, Co-Founder and Chief Business Officer of NutriLeads, tells NutritionInsight.
The company has obtained proof of concept for Xtramune in humans and “positive results” from a clinical efficacy trial involving a challenge with a common cold virus. In total, more than 800 subjects have so far participated in the research program, NutriLeads outlines.
Future ingredient projects
In addition to the Xtramune commercialization, two other ingredients from its portfolio are in the making. Currently, Project NL-02 is a crop-derived food ingredient that targets gut health. It is in the preclinical phase, in preparation for a proof of concept trial in humans.
Meanwhile, the third lead, Project NL-03, is under development to improve metabolic health through gut microbiome modulation and is currently in the discovery stage. Dam shares that information on these two projects will follow. Both these projects and Xtramune are potentially applicable for dietary supplements, functional foods, nutraceuticals and medical foods, according to the company.
Securing the funding
The Series B funding round is led by Icos Capital, together with Goeie-Grutten, and existing shareholders DSM Venturing, Oost NL, Shift Invest and Thuja. Initially founded in 2012, NutriLeads closed a successful seed financing round with an investor syndicate comprising Thuja Capital, DSM Venturing, PPM Oost and Shift Invest in 2015.
“Health ingredients are sought-after by food companies and their consumers. NutriLeads has impressed us by its professionalism, the quality of the work done and their network in the industry,” says Nityen Lal, Managing Director of ICOS Capital Management.
“We are confident that this is a worthwhile investment both for our limited partnerships and the consumers who will benefit from the health ingredients to be marketed,” he concludes.
This article is recently published by Anni Schleicher.