ENGLAND – Phynova, an Oxford-based life science company has raised €10 million (US$10.83 million) in its latest funding round led by DSM Venturing, the investment arm of Dutch nutrition and health company, Royal DSM
Phynova intends to use the funding to further progress Reducose, its blood-glucose technology to commercial scale. Reducose is a Phynova’s patent-protected ingredient which which addresses the global issue of excessive blood-glucose levels.
According to the company, the technology is easily added to foods and drinks at the manufacturing stage or taken as a food supplement to mitigate excessive blood-glucose levels, that can lead to severe conditions such as diabetes, obesity and cardiovascular disease.
Phynova explains that Reducose reduces the impact of high-glycaemic sugars, as well as other carbohydrates, on the body by reducing the absorption of sugars and other carbohydrates in meals by up to 40% and has undergone rigorous safety and human efficacy testing.
Phynova said the investment will support the company current efforts towards fulfilling significant commercial orders for the Reducose technology in Europe, China and North America.
DSM Venturing is joining a list of Phynova’s current shareholders including Unicorn Asset Management. Following the investment Dr. Rob Beudeker, Investment Director at DSM Venturing, will be joining Phynova’s Board. DSM Venturing currently has over 35 companies in its portfolio.
Robert Miller, Chief Executive of Phynova, said: “DSM is a high-calibre cornerstone investor and it being represented on Phynova’s Board is testament to Phynova’s developing position with its unique, proprietary plant-derived products.
“The interest in science-based natural products for maintaining and improving health already has a significant worldwide market and is set to grow substantially. We have had a formal collaboration agreement with DSM since 2018 and now they wish to invest as the company progresses Reducose to commercial Success.”
Dr. Janita Good, co-head of Life Sciences, at leading European law firm, Fieldfisher, who guided Phynova through the deal commented;
“Life Sciences is a key sector for Fieldfisher and I’m delighted to have been involved on this monumental deal. Making Reducose available through foods as an ingredient and as a supplement could revolutionise the management of excessive blood-glucose levels for those affected by it.
“This project is a particularly complex strategic investment involving multiple shareholders, but after months of dedication by all those involved, I’m pleased to see DSM and Phynova in partnership.”
The company derives the product white mulberry leaves (Morus Alba) and is part of Phynova’s stable of natural healthcare products developed from active compounds found in plants.