Monday, July 22, 2024
HomeFunding FL-based LactaLogics Secures $92 Million Funding

[Funding alert] FL-based LactaLogics Secures $92 Million Funding

LactaLogics, a pioneer in human milk-based nutrition, is announcing its successful closure of over $92 million in financing. This milestone will enable the company to complete its state-of-the-art facility for the production of human milk-based fortifiers and standardized donor milk.

LactaLogics, a pioneer in human milk-based nutrition, is announcing its successful closure of over $92 million in financing. This milestone will enable the company to complete its state-of-the-art facility for the production of human milk-based fortifiers and standardized donor milk.

The benefits of human milk for infant development are extensively documented in scientific literature. Yet, its availability is constrained in neonatal intensive care units (NICUs) and once a baby is home, formula is often the sole option for supplemental feedings. This creates a significant gap in nutritional choice for clinicians and parents alike.

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Through innovative large-scale manufacturing, leveraging their proprietary Gentle-UHT™ processing technology, LactaLogics is expanding access to human milk, ensuring a reliable supply of critical nutrition.

Funding sources include:

USDA Food Safety Loan: Supported by Magnolia Bank, LactaLogics is building resilience in critical infant nutrition supply chains by collecting excess milk from donors throughout the United States, processing it in Florida, and distributing it to hospitals and families.

US Department of Energy CPACE Loan: Underwritten by Pace Equities and with significant support from the State of Florida, St. Lucie County, and the City of Port St. Lucie, LactaLogics is strengthening American manufacturing while responsibly stewarding our energy resources.

Private Investors: Supported by McCarvill Capital Partners, numerous private investors, dedicated to advancements in manufacturing and healthcare technology, have joined LactaLogics to invest in building a strong nutritional foundation for all infants.

Glenn Snow, CEO and co-founder of LactaLogics said, “From the outset, our focus on getting more human milk to babies has never wavered, This new facility stands as a testament to the individuals who have helped this mission and will empower generous mothers with surplus breast milk to safely support infants in need. For the first time, at-risk infants will have access to human milk, from premature birth until mom can successfully meet her breastfeeding goals.”

Wendy Mueller, CFO of LactaLogics said, “This financing marks a pivotal moment for LactaLogics, It reflects a combined effort of both government and private sectors, seeing the need to empower families across America with nutritional choice. By bridging the gap in nutritional options available, we’re not only addressing a pressing healthcare challenge but also laying the groundwork for healthier future generations.”

Jerry Spruill, senior vice president of Magnolia Guaranteed Lending said, “It is gratifying to provide long-term support for the mission and the purpose of this organization. We are excited about the possibilities surrounding this project and the overall impact LactaLogics will have on infants, their families, and the medical field, Magnolia Bank is proud to partner with unique businesses like LactaLogics who need an adaptive and innovative lender.”

The funding will be used to implement the company’s human milk processing technology at its 71,000-square-foot facility located in Port St. Lucie, Florida.

About LactaLogics

LactaLogics, In 2012 they discovered that almost all premature infants in hospital NICUs do not receive the lifesaving benefits of an exclusive human milk diet. A commonly accepted belief is that human milk is expensive and in short supply, but they continue to be overwhelmed by the presence of moms with excess milk who want to help babies in need. They set out to find a solution that connected these moms to premature and at-risk infants in need, changing lives forever.

Read also – PA-based Formlogic Secures $20Million in Funding

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