DSM Venturing, part of Royal DSM, a global leader in nutrition, health, and sustainable living, is the cornerstone investor in Oxford-based Phynova’s €10m funding round.
Phynova is working towards fulfilling significant commercial orders for its Reducose technology in Europe, China and North America, which addresses the global issue of excessive blood-glucose levels, that can lead to severe conditions such as diabetes, obesity and cardiovascular disease.
Reducose is a patent-protected ingredient which is easily added to foods and drinks at the manufacturing stage or taken as a food supplement.
It is derived from white mulberry leaves (Morus Alba) and is part of Phynova’s stable of natural healthcare products developed from active compounds found in plants.
Reducose reduces the impact of high-glycaemic sugars, as well as other carbohydrates, on the body. It does this by reducing the absorption of sugars and other carbohydrates in meals by up to 40% and has undergone rigorous safety and human efficacy testing. Diabetes and pre-diabetes are a rapidly growing health issues with an estimated 1 billion adults affected globally. Converging societal trends, including public awareness of the impact of sugar on the body and wearable technology to measure blood glucose, are fuelling a huge market opportunity.
DSM Venturing is joining an impressive list of current shareholders including Unicorn Asset Management. Dr. Rob Beudeker, Investment Director at DSM Venturing, will be joining Phynova’s Board. DSM Venturing currently has over 35 companies in its portfolio.
Robert Miller, Chief Executive of Phynova, said: “DSM is a high-calibre cornerstone investor and it being represented on Phynova’s Board is testament to Phynova’s developing position with its unique, proprietary plant-derived products.
“The interest in science-based natural products for maintaining and improving health already has a significant worldwide market and is set to grow substantially. We have had a formal collaboration agreement with DSM since 2018 and now they wish to invest as the company progresses Reducose to commercial Success.”
Dr. Janita Good, co-head of Life Sciences at Fieldfisher, said,”Life Sciences is a key sector for Fieldfisher and I’m delighted to have been involved on this monumental deal. Making Reducose available through foods as an ingredient and as a supplement could revolutionise the management of excessive blood-glucose levels for those affected by it.
“This project is a particularly complex strategic investment involving multiple shareholders, but after months of dedication by all those involved, I’m pleased to see DSM and Phynova in partnership.”