Nu­ri­tas se­cures €30m in­vest­ment from EIB

The Irish Times - Business - - BUSINESS / NEWS - CHAR­LIE TAY­LOR

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.

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