Pronutria Biosciences Inc., a biotechnology company pioneering first-in-class medicines for serious conditions linked to amino acid imbalances, announced today that it has completed a $42.5 million investment by Nestlé Health Science.
The proceeds from this financing will help to fund the ongoing rapid transformation of the company from a unique and revolutionary platform to late stage clinical candidates in several disease indications.
“We are delighted with the support from Nestlé Health Science and recognition of the rapid progress we have made towards the clinic with several lead candidates,” said Robert Connelly, President and CEO of Pronutria. “We intend to demonstrate the breadth of our technology by expanding the existing muscle, neurological and liver disease programs.”
“We are forging an innovation frontier for nutritional therapy in healthcare and the paradigm-changing science at Pronutria is a perfect fit for our goals of improving patient health with new approaches that have broad application,” said Greg Behar, Nestlé Health Science CEO. Alongside the investment he will join the Pronutria board of directors.
“Our experience with Nestlé Health Science is that they are an excellent and committed partner with an innovative vision of the future of patient care,” said Dr. Noubar Afeyan, CEO of Flagship Ventures, and co-founder and Chairman of Pronutria. “We look forward to working closely with them to expand this relationship for generating meaningful patient and economic value.”
Source: Pronutria
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