Prenexus Health raised $23 million to expand production capacity of its PreneXOS prebiotic ingredient.
Prenexus Health (Gilbert, AZ), a manufacturer of organic prebiotic ingredients, announced a $15 million first close on its series B financing, which in addition to other financing related to this close, totals over $23 million in expansion financing. Proceeds will be used to significantly expand production capacity at the company’s Gilbert, AZ manufacturing plant. Prenexus uses a novel process to produce certified-organic XOS (xylo-oligosaccharide) from US-grown organic sugar cane.
"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 with in supplement, food, beverage and companion animal applications," said Michael Bush, CEO of Prenexus Health, and former CEO of probiotics leader Ganeden, in a press release. "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."
Investors in the funding round included CIBUS/ADM Capital, Continental Grain, Coalescence Partners, DSM Venturing, ONCE Ventures (Otsuka's new venturing arm), and PeakBridge. William Hood & Company acted as Prenexus Health's exclusive financial advisor for the transaction.
Judge denies CRN’s motion for preliminary injunction but its lawsuit against NY state will proceed
April 23rd 2024The judge in CRN's lawsuit against NY state's law banning the sale of weight management and muscle building supplements to minors has denied its motion for a preliminary injunction, but determined that CRN has standing to sue on behalf of its members.
Arla Foods to acquired whey nutrition business from Volac International
April 22nd 2024Arla Foods Ingredients has reached an agreement to acquire Volac’s Whey Nutrition business through a purchase of shares in Volac Whey Nutrition Holdings Limited and its subsidiary, Volac Whey Nutrition Limited and Volac Renewable Energy Limited.