The Spanish startup CIRCE Scientific continues to make progress in improving the product and has just closed a round of financing worth 1.7 million euros. The company is specialized in the use of co-crystallization technology to develop nutraceutical ingredients with scientifically improved properties (such as increased bioavailability, stability and solubility).
The capital increase has had the presence of the current shareholders and has meant the entry into the company of new national and international investors.
With the funds raised, CIRCE Scientific will continue to develop its go-to-market strategy, cover its needs for short-long term financing and will meet its growth forecasts.
“We are looking to fuel the company’s industrial growth and begin manufacturing commercial batches of our first ingredient, pterovite, for launch in the United States. As well as accelerating the registration and entry into new markets after signing new distribution contracts with strategic partners”explains Fernando Barrera Barceló, CEO and co-founder of the company.
“It will also help us to launch new clinical studies with the ingredients developed in different areas of health, to industrially scale up the beta-Sitosterol cocrystal for its production and market launch, in addition to reinforcing R&D in other ingredients that we have in portfolio”adds the entrepreneur.
Marketing of pterovite
And it is that, after years of research, the company faces a new phase in the development of its improved nutraceutical ingredients, starting with the marketing plan for its main ingredient, pteroviteas of the first quarter of 2023.
As detailed by Fernando: “Pterovite is a cocrystal of pterostilbene. That is, a new solid form that improves the properties of standard pterostilbene. By joining it with another molecule in the same crystal (that’s a cocrystal), the properties that depend on its crystalline form are changed. So Pterovite is a pterostilbene crystal with a second molecule that enhances its properties.”
“The launch of Pterovita in the US market is our priority, in response to the increased implementation of Pterostilbene and our recent approval of a self-grass evaluation. We also plan to launch it in the European and Asian markets in the coming years”.
At the same time, in 2023 they plan to launch a second ingredient on the market, which is beta-sitosterol cocrystal, whose solubility has been significantly increased.. “We also continue to develop the rest of the ingredients and the plan is to launch two more in 2024”Barrera points out.
