21 Aug 2024 — Food technology company De Novo Foodlabs receives new capital, bringing its total investment to US$4 million. With the new funds, the company can fast-track the commercialization of its precision fermented lactoferrin product, NanoFerrin, as an animal-free alternative to current lactoferrin sources without ethical and environmental drawbacks.
Lactoferrin is a globular glycoprotein found in milk and other mammalian secretions that plays a crucial role in infant development. Additionally, De Novo Foodlabs highlights its health benefits for adults, including improved immunity, brain health, iron absorption, gut health and longevity. Research shows the protein effectively alleviates aging-related changes with its antioxidant, anti-cellular senescence and anti-inflammation properties.
However, traditional extraction methods from cow milk encounter economic, sustainability and ethical challenges.
“The lactoferrin market has long been hindered by high prices and inconsistent supply,” illustrates Jean Louwrens, CEO and co-founder of De Novo Foodlabs. “Our team of leading scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough.”
“NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products.”
Investment achievements
Sustainable protein venture capital firm Joyful Ventures spearheads the latest funding. It follows earlier investments from Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science and Prithvi Capital, which brings De Novo Foodlabs’ total funding to US$4 million since the company started in 2021.
“De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures,” highlights Milo Runkle, general partner at Joyful Ventures and co-founder of the Good Food Institute. Runkle will join De Novo Foodlabs’ Board of Directors as part of the investment.
“Their advancements in precision fermentation technology and dedication to creating impactful alternatives to high-value animal-derived ingredients pave the way for scalable and profitable industry solutions.”
Lactoferrin market
De Novo Foodlabs highlights that the global lactoferrin market is projected to grow substantially in the coming years, offering opportunities for innovators and investors to enhance the supply chain and meet consumer demand.
Research supporting lactoferrin’s immunity-boosting benefits helps to drive this growth. Moreover, clinical trials indicate that bovine lactoferrin is as effective as iron treatment in patients with low hemoglobin without the adverse side effects of traditional iron supplements.
However, animal-free lactoferrin producer TurtleTree told Nutrition Insight that the supply of traditional lactoferrin is limited due to high manufacturing costs, with the available scarce supply focused on essential foods and beverages.
Animal-free versions, such as De Novo Foodlabs’ NanoFerrin and TurtleTree’s LF+, offer an alternative in this growing market.