Dairy Dialog podcast 143: Adventa Bioscience, Change Foods, Tate & Lyle
We also have our weekly look at the global dairy markets with Charlie Hyland at StoneX.
Animal-free dairy start-up Change Foods closes $2.1m seed round
Change Foods has closed an oversubscribed seed round of $2.1m, bringing the total capital raised to $3.1m.
Backed by investors including Plug and Play Ventures, Clear Current Capital, Jeff Dean, Canaccord Genuity, Better Bite Ventures, and Italian fund GERBER-RAUTH among others, the company is getting closer to launching its first product, animal-free cheese, in the US in 2023.
Driven by the mission to create a sustainable, thriving and kind food system, Change Foods honed in on animal-free cheese as its first product.
“People love cheese,” said CMO, Irina Gerry.
“Cheese is usually the last product holding consumers back from adopting a fully plant-based lifestyle, yet, cheese is second only to red meat (beef and lamb) in its carbon footprint.”
“Plant-based cheese alternatives have a taste and performance gap to animal-based dairy cheese, especially when it comes to stretch and melt,” said Change Foods founder and CEO, David Bucca.
“This is why we set out to make cheese without compromise. We harness the power of microbes instead of animals to create dairy foods that are indistinguishable from their animal-based predecessors on taste and texture, while delivering products that are more sustainable and better for you.”
Bucca and VP Sacha Baker relocated to the Bay Area earlier this month, finally meeting with COO, Luis Espinoza, and Gerry, in person for the first time.
“Change Foods is leveraging precision fermentation to produce real, animal-free cheese in a novel manner, setting them apart from others in the space,” said Steven Molino of Clear Current Capital.
“This differentiation, coupled with an impressive management team, leaves Change Foods uniquely positioned to reinvent the dairy landscape and further the transition to a more sustainable food system.”
“We’re excited to support Change Foods in their journey to disrupt one of the largest food segments in the world - bringing cheese to consumers without the cow. With their precision fermentation technology, we look forward to seeing them scale their technology in its entirety. Their team is also exceptional, with a wide breadth of experience and industry knowledge to bring their vision to the mass food market,” said Michelle Shi of Plug and Play Ventures.
"As very first investors in Change Foods, we have had the opportunity to watch all the R&D progress the company made since they launched. We are also impressed by the calibre of people David has been able to attract to the team. That made us confident to follow on with more investment several times," said Michal Klar and Simon Newstead, co-founders of Better Bite Ventures.
“As CEO of two SMEs active in international dairy trading for over 50 years, the dairy industry is both our heritage and our future. But we realize that the dairy ecosystem cannot and will not thrive if it remains static, which is why we have always been at the forefront of innovation in our sector and why we strongly believe that an investment in Change Foods is a sound investment in the future of our industry.
“Consumer preferences have expanded beyond traditional dairy products from cows and even beyond animal-derived dairy. That is why for GERBER-RAUTH, this new dairy ecosystem covers traditional animal-derived dairy, advanced plant-based alternatives, and new production technologies such as biomass and precision fermentation as well as stem-cell cultivation.
“We are certain that Change Foods, with its innovative industrial IP, open and global mindset, and dynamic, dedicated, and professional team of founding managers, will be among the key players to revolutionize our industry. At GERBER-RAUTH, we are committed to being a part of this revolution,” said Christian Pichler, chairman and CEO, GERBER-RAUTH Srl, managing director, L’INTERFORM Srl.
What are the next steps in the journey of Trulacta?
Are you working on other products as well?
Adventa Bioscience launches Trulacta human-milk supplement
Adventa Bioscience, a company dedicated to improving adult human health, has announced the launch of Trulacta, the world's first and only supplement made entirely of human milk.
Adventa has utilized advanced science and proprietary technology to create a supplement containing human milk bionutrients (HMBs), which the company said have been shown to support whole-body health.
Trulacta is composed of thousands of components found in human milk. The supplement's HMBs include human milk oligosaccharides (HMO), growth factors, immunoglobulins, macrophages and stem cells, as well as other enzymes and peptides. Adventa said the combination of the compounds has shown to aid the development of the immune system, protect from autoimmune disease, actively fight bacteria and allow the body to maintain and restore itself.
"All human bodies are made to recognize, accept and thrive on human milk bionutrients," said Peter Lamb, COO of Adventa Bioscience.
"Over 70% of the immune system resides in the gut and Trulacta is designed to support gut health while positively impacting overall immune health in ways that probiotics and prebiotics can't. Studies have shown a healthy gut can improve mental health, optimize digestion and lead to a more restful sleep."
75% of adults deal with gastrointestinal issues that range from ulcerative colitis to irritable bowel syndrome to Crohn's disease. Many others suffer from poor sleep, compromised immunity and anxiety.
"The advances in research and technology, as well as the significant progress in product development that we are making at Adventa, are providing hope and restoring lives," Lamb said.
Adventa conducted a limited pre-clinical study in fall 2020 with 84% of participants reporting positive results with regards to relief of gastrointestinal symptomatology as well as other inflammatory issues. Improvements in restless sleep, headaches and joint pain were also reported and may be explained by Trulacta's positive impact on neurotransmitters and inflammation. Because of these positive findings, Adventa is initiating full-scale clinical testing to begin by August 2021.
"Human milk is the natural powerhouse required for the healthy growth of humans at the most critical period of our lives," said Dr Daniel Crisafi, ND.A., Ph.D.
"Trulacta has now made it possible for adults to benefit from the precious nutrients and nutraceuticals in human milk to help support whole-body health."
Tate & Lyle’s expanded PROMITOR soluble fiber range
Tate & Lyle recently launched two new liquid versions of PROMITOR: PROMITOR Soluble Fiber W and PROMITOR Soluble Fiber 90L. These versions have been developed to make adding fiber to applications including confectionery, beverages and bars, easier and more cost effective.
This allows food and beverage manufacturers to make their products healthier, both reducing sugar and calories and fortifying them with fiber, while maintaining great taste, texture and consumer experience.
“These additions to our PROMITOR Soluble Fiber range bring all the existing benefits of PROMITOR that have helped make the product range so popular both for adding fiber to products and for lowering sugar and calories. They provide very high digestive tolerance, excellent acid, heat and process stability, consumer-friendly labelling options, and most importantly of all the ability to maintain great taste, texture and appearance in an extensive range of food and beverage applications,” said Susanna Palatucci, global head of health and wellness at Tate & Lyle.
Both new ingredients address specific needs in certain types of products. PROMITOR Soluble Fiber W, which contains a minimum of 85% fiber and less than 2% sugars, has a lower viscosity than comparable fiber ingredients and performs particularly well in confectionery products such as gummies. It can therefore be used for sugar reduction in mainstream confectionery or for fiber fortification in nutritional confectionery products.
PROMITOR Soluble Fiber 90L is a liquid version of Tate & Lyle’s existing 90% fiber powder ingredient, which, depending on the end-product and manufacturing set-up, can provide production efficiencies by avoiding the need to dissolve or handle powders. The ingredient has lower viscosity and is easier to handle and use than comparative products on the market.
“More than half of consumers are looking to increase their fiber intake, and around two thirds want to decrease their sugar intake,” said Michael Segal, health and wellness innovation director at Tate & Lyle.
“PROMITOR Soluble Fiber can help food and beverage manufacturers achieve both fiber fortification and sugar reduction, while maintaining the great taste and texture their consumers expect. By growing the PROMITOR family with these two new offerings, it is now even easier to incorporate the ingredient into a very broad range of applications.”
The PROMITOR W launch is focused on North America, and PROMITOR 90L on North America and Japan.
