The proceeds from this financing will fund further clinical development of Pronutria's first-in-class lead product candidates, including PN-107 for muscle wasting indications, as well as the advancement of the company's pipeline of therapeutics to treat many other diseases impacted by amino acid dysregulation.
Nestlé Health Science CEO, Greg Behar, who will be taking a seat on the Pronutria Board of Directors, commented, “Across our existing business in Consumer Care, Medical Nutrition and Novel Therapeutic Nutrition, we are forging an innovation frontier for nutritional therapy in healthcare. Pronutria is bringing a paradigm changing science with new clinical approaches addressing unmet needs that are associated with significant health economic costs. We see strong potential in the technology platform and this unique partnership, given our healthcare expertise, existing portfolio and global coverage.”
Pronutria, based in Cambridge, Massachusetts, was founded in 2011 and was selected as the hottest Healthcare Start-up by Forbes Magazine in 2015. Commenting upon the investment and the technology, President and Chief Executive Officer Robert Connelly, said, “We believe Nestlé Health Science can be an accelerator in taking our technology into transformational treatment across multiple conditions. Our research has revealed that amino acid dysregulation may cause and/or drive the onset of a number of serious conditions. We have shown the potential for these diseases to be mitigated or reversed by Pronutrein® proteins that deliver a specific profile of regenerative amino acids.”
About Pronutria Biosciences
Pronutria is pioneering first-in-class medicines to treat or cure serious conditions where cell homeostasis has been disrupted by amino acid imbalances. We achieve this by using a systems pharmacology approach to deliver disease-specific amino acid compositions that improve the function of biological pathways and regenerate health. This revolutionary new field has the potential to address critical unmet medical needs for the patients of more than 2,000 diseases where amino acids play a central role. We are developing the first oral biologics, derived from the food proteome, that deliver disease-specific amino acid compositions to restore balance in disease pathways, regenerating cell function and transforming lives. We have reimagined the discovery process by combining a proprietary platform of over one billion potential candidates with the tools and expertise to select and advance multiple lead candidates into human studies with unprecedented speed. Our platform is already validated across several indication areas with clinical-stage medicines in muscle, neurodegenerative and liver conditions. We are developing both therapeutics and nutritional supplements. The company was founded within VentureLabs, the Innovation Foundry at Flagship Ventures, and received additional funding from Fidelity Research & Management Group and Gurnet Point Capital. Pronutria Biosciences is based in Cambridge, MA. For more information, please visit www.pronutriabio.com .
This press release contains “forward-looking statements” regarding the development of amino acid biologics (Pronutriens). Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed.