Nuritas secures €30m investment from EIB
Nuritas, an Irish biotech company that uses data mining of molecules in food and food byproducts to identify supplements and new drugs, has secured €30 million.
Coming from the European Investment Bank (EIB), which is the financial arm of the EU, the investment will enable Nuritas to access funds as required to increase development of therapeutics in areas such as antiaging, anti-inflammatory and diabetes treatment.
“It is a hugely meaningful mark of confidence and support for Nuritas, as such a small percentage of applicants pass the extensive diligence criteria for a facility of this substance,” said chief finance officer Greg Stafford.
Nuritas, which was founded in 2014, uses big data techniques to discover peptides – molecules in food and food byproducts . The company says it can find these 10 times faster and 500 times more accurately than traditional methods while reducing costs significantly.
Nuritas has already developed and patented ingredients that can address global challenges as broad as inflammation, diabetes, and MRSA. Last month it announced PeptAIde, the first bioactive ingredient discovered and delivered through artificial intelligence.
Founded by Trinitytrained mathematician and bioinformatics specialist Nora Khaldi, Nuritas has previously raised €26 million. This is the first time the EIB has invested in an Irish biotech company.