COLUMBIA, Md., Jan 13, 2005 (BUSINESS WIRE) -- Advanced BioNutrition Corp. (ABN), a leader in developing functional ingredients and technologies to improve animal and human health and wellness, today announced that it has completed a second round of private equity financing, raising $7.5 million. The company will use proceeds from this Series B financing round to expand applications for its new MicroMatrix ingredient delivery technology, continue development of new disease prevention products, and to build sales of its DHA and ARA nutritional products.
ABN's proprietary and unique MicroMatrix technology allows the encapsulation of active ingredients such as probiotic bacteria for the extension of food applications, including use in infant formula. ABN's technology makes possible the oral delivery of a wide range of bioactive molecules, such as vaccines, enzymes, hormones, and peptides, as well as probiotic bacteria and prebiotics.
DHA (Docosahexaenoic Acid) and ARA (Arachidonic Acid) are recognized as essential fatty acids in animal and human nutrition.
ABN's Series B round, which was led by SAM Equity Partners Ltd. and BASF Venture Capital GmbH, also included Arancia Industrial SA de CV, as well as ABN's Series A round investors, Sherbrooke Capital, Eastbourne Capital Management L.L.C., the Maryland Dept. of Business and Economic Development, and a private investor.
"While our MicroMatrix technology was developed to meet immediate needs in the area of aquatic nutrition, we see exciting applications in delivery systems for active ingredients in human applications," said David J. Kyle, ABN's President and CEO. "This investment is a testament to the strength of ABN's unique, proprietary technology. We have put together an excellent syndicate of investors whose expertise will benefit us as we grow our business."
"We are excited to have this opportunity to be involved in the success of ABN," said Walter Locher, Principal, Sam Equity Partners, Ltd. "ABN's MicroMatrix technology offers broad applications in functional foods for animals and humans, while the company's DHA and ARA products will enable the sustainable production of Organic seafood. This will result in safer seafood products by eliminating the need for fishmeal and fish oil in aquaculture feeds, and the contaminants they potentially carry."
"We believe that ABN's technologies will play an important role in developing new, innovative aquaculture products and will improve the quality of life for humans and animals through functional nutrition," said Patrick Huebler of BASF Venture Capital America, Inc.
ABN was founded in late 2001 by Dr. David J. Kyle, a co-founder of Martek Biosciences Corporation (MATK). ABN previously raised $6 million in a Series A financing that allowed it to establish its technology, sales, marketing and operations infrastructure efforts designed to develop nutritional products to promote health and control disease in the fields of aquaculture and agriculture.
Advanced BioNutrition is a leader in developing functional ingredients and technologies to improve animal and human health and wellness. The company is headquartered in Columbia, MD. www.abn-corp.com
SAM Equity Partners Ltd. is a wholly owned subsidiary of SAM Sustainable Asset Management AG (www.sam-group.com), an independent asset management company based in Zurich, Switzerland.
About BASF Venture Capital GmbH
BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, and participates in startup companies by providing venture capital to open up new growth potentials. Investment is channeled toward companies that can demonstrate successful applications for their product developments as well as market demand. BASF also supports these companies with its expertise. Further information on BASF Venture Capital GmbH is available on the Internet at www.basf-vc.de. Further information on BASF is available on the Internet at www.basf.com.
Having participated through its wholly owned subsidiary Arancia International Inc, Arancia Industrial SA de CV (www.arancia.com.mx) is a private company based in Guadalajara, Mexico. A corn refiner for 75 years with successful international joint venture experience, Arancia today operates in enzymes, textile rental services, and transportation, and is an investor in related businesses as it seeks to grow operations in biotech, agroindustry, and logistics services.