COLUMBIA, MD – Advanced BioNutrition Corp., which has developed a number of animal nutrition products, has raised more than $900,000 of a targeted $1.2 million debt and warrants raise, according to a regulatory filing. The company previously raised $20 million in backing from investors who include the Sea Change Investment Fund, Sherbooke Capital, Emerald Technology Ventures (formerly SAM Equity Partners,), BASF Venture Capital GmbH, and Arancia Industrial SA de CV, and individuals.
When the company raised its $7.75 million C round in June 2007, Jason Winship, Managing Principal of the Sea Change Investment Fund, said, “ABN has developed an alternative to fish meal and fish oil with significant long-term economic and environmental advantages. We believe ABN will help the global aquaculture industry profitably reduce its dependence on wild forage fisheries.”
The company’s AquaGrow product lines based on a sustainable algae-based form of the long chain polyunsaturated fatty acid – docosahexaenoic acid (DHA).
As a single ingredient, or in combination with other key essential fatty acids, the AquaGrow products have been shown to completely replace the need for fishmeal and fish oil when added to other sustainable protein sources for the cultivation of shrimp and certain fin fish.
ABN’s proprietary MicroMatrix technology allows the encapsulation of active ingredients such as probiotic bacteria for the extension of food applications, including use in infant formula.
The technology makes possible the oral delivery of a wide range of bioactive molecules, such as vaccines, enzymes, hormones, and peptides, as well as probiotic bacteria and prebiotics.
The company also received funding from The Maryland Department of Business and Economic Devel0pment, Eastbourne Capital Management, and Jan Investment, S.A.
The company disclosed the latest raise in a filing with the U.S. Securities and Exchange Commission.
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