Circe Scientific Closes a Round of €1.7 Million to Enter the US Market

Circe Scientific raises capital. The Spanish company specializing in the use of co-crystallization technology to develop nutraceutical ingredients has closed a financing round of €1.7 million, with which it hopes to enter the United States commercially.

The financing round has been attended by the current shareholders and has led to the entry into the company of new national and international private investors, whose identities the company has not revealed.

With the funds raised, Circe Scientific will continue to develop its go-to-market strategy and meet its short- and long-term financing needs. “We seek to boost the company’s industrial growth and start manufacturing commercial batches of our first ingredient, Pterovita, for its launch in the United States,” explained Fernando Barrera, CEO and co-founder of the company.

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Circe Scientific will launch two more ingredients in 2024

“It will also help us to launch new clinical studies with the ingredients developed in different areas of health, to industrially scale the beta-Sitosterol cocrystal for its production and market launch, in addition to reinforcing research and development (R&D ) in other ingredients that we have in our portfolio,” added Barrera.

After years of research, the company is entering a new phase in the development of its enhanced nutraceutical ingredients, beginning with Pterovita’s commercialization plan beginning in the first quarter of 2023.

“The launch of Pterovita in the US market is our priority, responding to the increased implementation of Pterostilbene; We also plan to launch it in the European and Asian markets in the coming years,” added the manager.

At the same time, in 2023 the company plans to launch a second ingredient on the market, which is beta-sitosterol cocrystal, whose solubility has been increased. “We also continue to develop the rest of the ingredients and the plan is to launch two more in 2024,” said Barrera.

Currently, Circe Scientific is at a key moment, since they are going from being a scientific R&D company, which only works on ideas or research projects, to a company that has already managed to develop those ideas and turn them into viable products. that can be brought to market.

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(Featured image by Belova59 via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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