Digestiva, a Davis, CA-based food biotech company, closed its Series A equity financing round, raising $18.4m.
The round was led by Magdalena, with participation from UC Investments, and existing investors The March Fund and Astanor.
The company’s enzyme technology platform, initially discovered by co-founder Dr. Wilson Mak, in the lab of renowned UC Davis faculty member Dr. Justin Siegel, a leader in enzyme discovery, development, and design, focuses on the discovery and development of proprietary protease enzymes designed to address critical challenges in protein nutrition, functionality, and overall health. Digestiva’s proteases enhance protein bioavailability, allowing people and animals to maximize nutritional benefits from existing diets without increasing protein consumption. These science-driven solutions have the potential to address global malnutrition and promote sustainable nutrition by improving health outcomes and reducing environmental impact.
Alongside the successful Series A financing, Digestiva has entered into an exclusive manufacturing partnership with Magdalena. Under this agreement, Magdalena will enable the scale-up production of enzymes to help Digestiva reach its commercial milestones.
Led by John Melo, CEO, the company is currently executing multiple pilot projects aimed at accelerating commercialization and achieving initial revenue milestones. Its first precision protease enhances the processability, nutritional quality, digestibility, and bioavailability of proteins. This enzyme releases an optimal mix of amino acids and peptides, offering versatile applications in nutrition and protein processing. The protease technology has shown promise in pilot human studies and industrial processes, potentially revolutionizing the quality of protein ingredients from various plant and animal sources. Digestiva aims to commercialize applications in pet food, animal feed, and human nutrition markets. The company has developed a cost-effective production method using precision fermentation and has attained Self-Affirmed GRAS, making its first product market-ready.
FinSMEs
15/07/2024