US-based prebiotic ingredient producer Prenexus Health has announced the closing of its Series B financing round at $15 million.
The funds raised, in addition to other financings related to this close, came to a total of $23 million to expand the production capacity for its PreneXOS ingredient at the company’s factory in Gilbert, Arizona. Sponsors in the fund include pharmaceutical company Otsuka’s new corporate venturing arm, ADM Capital, Continental Grain, Coalescence Partners, DSM Venturing, PeakBridge, and the organisation has retained William Hood & Company as its exclusive financial advisor to this deal.
“Prebiotics are the most exciting frontier in the rapidly evolving field of gut microbiome health due to their ability to feed beneficial bacteria already in the gut and their inherent stability makes them very easy to work within supplement, food, beverage and companion animal applications,” said Michael Bush, CEO of Prenexus Health. “Certified-organic, US-made PreneXOS is the ideal prebiotic because it works with a much lower daily dose than other prebiotics, like inulin and other oligosaccharides.”
Bill Misconish, Prenexus Health’s president and CFO, added: “The Gilbert facility will be best-in-class for manufacturing effective prebiotics. We look forward to being able to fulfil more of the unprecedented demand we are seeing for this ingredient”.
© FoodBev Media Ltd 2021
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