The funds are expected to be used for product development and for commercializing the company’s prebiotic products for the dietary supplement and health food markets.
Prebiotics are non-digestible ingredients that serve as nutrients for beneficial GI bacteria.
Additionally, the company has also named Dean Stull as the new CEO.
Most recently, Stull worked as the founder and principal of Innovation Science, which provides consulting services for biotechnology, medical food and functional food companies.