NuMe Health LLC, a New Orleans, LA-based biotechnology company developing prebiotic products for the dietary supplement and health food markets, has closed a $675k Series A-1 financing round.
The round, which was led by BVM Capital LLC, represents the first closing of a larger Series A funding. Ross Barrett, general partner at BVM Capital is also a director of NuMe Health.
The company intends to use the capital to expand its operations and develop its products, which, are derived from bioactive ingredients in edible plants and will initially target conditions involving diabetes, metabolism and the maintenance of healthy body weight.
NuME also hired Dean P. Stull, PhD, as CEO. He is replacing the company’s founding CEO Dale Pfost, who will continue as a director of the board. Dr. Stull was the founder and principal of Innovation Science, which provides consulting services for biotechnology, medical food and functional food companies and also serves as chairman of the board of Pyxant Laboratories, which provides bio-analytical services.
The company has moved into the newly opened New Orleans BioInnovation Center (NOBIC), a technology business incubator created to foster entrepreneurship within the New Orleans bioscience community.