DES MOINES, Iowa --The Iowa Department of Economic Development (IDED) recently approved more than $600,000 in funding to Kemin Foods to expand research and development of products aimed at women's health and improving the lives of diabetes sufferers and overweight people.
The financial assistance in the form of a grant and royalty-based investments comes from the Advanced Research and Commercialization (ARC) program. Kemin Foods is within one of the state's targeted industries--life sciences.
"We're proud to have proven ourselves to be good stewards of public moneys supporting meaningful, valuable research and we look forward to producing more rewarding results," says Jerry Newman, Ph.D., Kemin Foods vice president of research and development. "We've taken great strides to promote long-term eye health with FloraGLO® lutein and we've made great progress toward a break-through weight loss solution. We're confident we can continue to leverage our technology to help diabetes sufferers and improve women's health."
The investment consists of a $253,000 grant supporting research and development of women's health and weight loss products and a $427,500 royalty-based investment supporting research and development of new products to defend against Type II Diabetes.
"Companies like Kemin Foods help us show the world Iowa is a leader in biotechnology. Exciting research and development in life sciences is occurring throughout the state to improve human health and nutrition that will result in better lives for millions of people across the world," said C.J. Niles, Director of the Iowa Department of Economic Development.
The Des Moines-based Kemin Foods has successfully marketed FloraGLO brand lutein, a natural ingredient in more than 100 vitamin and dietary supplement, food and beverage products around the world, believed to promote long-term healthy eyes. FloraGLO is the only lutein product proven safe and approved for use in fortified foods applications.
Kemin Foods is part of Kemin Industries, Inc., which has manufacturing facilities in Iowa, Texas, Belgium, China, India, Singapore and Thailand. To learn more about Kemin Foods and FloraGLO brand lutein, visit www.keminfoods.com.