Nuritas closes €16m Series A round
21 December 2017 | 0
Dublin-based biotech company Nuritas has announced the close of a €16 million Series A funding round led by Chicago-based Cultivian Sandbox Ventures.
This brings the total invested to date to approx. €25 million, including early funding from U2’s Bono and The Edge, Salesforce CEO Marc Benioff, Singapore-based VisVires New Protein, angel investor Ali Partovi and Enterprise Ireland. The latest round of funding will support Nuritas’ global growth to address and solve many of the most pressing health issues of the day, including the diabetes epidemic.
Since launching in 2014, Nuritas has grown rapidly with its AI-powered peptide discovery platform, with applications spanning health and wellness, pharmaceuticals, agriculture and dermatology amongst others, attracting high-profile investors and partners, including BASF SE.
Nuritas uses a proprietary AI and genomics platform to rapidly analyze the billions of molecules and peptides in food to predict and identify how they impact specific health areas, molecular pathways or receptors. When compared to traditional discovery methods, the Nuritas platform has been shown to identify peptides ten times faster and 500 times more accurately while significantly reducing costs.
Recently, the company has turned its focus to diabetes. According to the International Diabetes Federation, an estimated 352 million individuals globally are living with pre-diabetes which is considered an early warning sign for diabetes. An estimated 34 million pre-diabetics globally move on to develop full blown diabetes each year. In the EU alone, 36 million people are estimated to have pre-diabetes.
“Bioactive peptides are known to play a role in managing diabetes and many other areas, but the current methods of identifying those that may work is time-consuming, inefficient and expensive,” said Emmet Brown, CEO, Nuritas.
“Our artificial intelligence platform has already disrupted this antiquated process by targeting, predicting and unlocking peptides that can positively impact in conditions like pre-diabetes while reducing the cost and time needed to find them. We’re excited to have Cultivian Sandbox and others join our mission to unlock these huge capabilities to improve human and animal health.”
Nuritas founder and chief scientific officer Dr Nora Khaldi said: “This investment will not only help us accelerate our route to market, explore new disease areas and grow our already strong team, but it will also push us even further in extracting the great potential of what our technology is capable of creating. What is so exciting is that the inflammation ingredient launching in the US next year is actually the first healthcare ingredient that has been fully discovered through the use of artificial intelligence.”