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Irish biotech firm Nuritas raises €39m in Series B funding

The firm, founded by Dr Nora Khaldi, will use the money for US expansion.

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Dr Nora Khaldi, founder and CEO, Nuritas

Dr Nora Khaldi, founder and CEO, Nuritas

Dr Nora Khaldi, founder and CEO, Nuritas

Nuritas, the biotechnology company founded by the Irish scientist Dr Nora Khaldi, has closed a $45m (€39.3m) Series B funding round, bringing to €65.5m the total raised.

The round was led by Chicago-based Cleveland Avenue. Other early investors include U2’s Bono and The Edge, as well as Salesforce CEO Marc Benioff.

The company is currently involved in researching the discovery and development of plant-based bioactive peptides.

“It has been a landmark year, resulting in the expansion of our peptide portfolio, growing the commercial team and developing key global partnerships,” said Dr Khaldi, who is also CEO of Nuritas. “Our new investors bring a wealth of invaluable expertise, and this latest round will help to build our US headquarters, continue to expand our team, scale our platform to discover more life-changing ingredients and accelerate our route to market.”

Nuritas says that it has established the world’s largest peptide knowledge base. Peptides are smaller versions of proteins with the same nutritional power but with added specific properties. Many of these, Nuritas says, are highly valuable to humans but have not yet been harnessed for their full potential.

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