CycloPure, Inc., a leading innovator in water purification technologies and the developer of DEXSORB™ filtration products, announced it has raised $3.5 million in an oversubscribed Series A round of financing. Investment proceeds will be used to accelerate commercialization of its eco-friendly DEXSORB™ adsorbents. This financing, along with $1.5 million in Small Business Innovation Research (SBIR) grants from the National Science Foundation, National Institutes of Health and Department of Defense, brings CycloPure’s total funding to $5 million.
“We are grateful to our investors and sponsors for supporting our efforts to develop novel treatments to make water safe,” said CycloPure Chief Executive Officer Frank Cassou. “They recognize how our DEXSORB™ technologies can help protect the health of millions of people. Our DEXSORB™ adsorbents target the toughest problems in water contamination – the removal of microcontaminants such as perfluorintated compounds (PFOA and PFOS) and residues of pesticides, pharmaceuticals and other chemicals. With this funding, we are tracking to launch our first DEXSORB™ product later this year.”
“It’s a pleasure to be involved with the CycloPure team”, said investor Irwin Jacobs, “It’s nice to support a technology that can save lives. Contamination of water by perfluorinated compounds has quickly grown to crisis levels.”
Derived from renewable corn-based cyclodextrin, CycloPure’s DEXSORB-MP™ represents a new class of adsorbents engineered to safely strip away hundreds of micropollutants including perfluorinated compounds (PFOA and PFOS), pesticides, and pharmaceutical compounds which contaminate much of the country’s drinking water. Soon to be commercially available in multiple formulations and particle sizes, DEXSORB™ is ideal for use in water purification applications ranging from consumer point-of-use water filters to municipal drinking water plants. Cyclopure’s proprietary cyclodextrin sorbent is patent protected (US9624314).
A recently granted follow-up patent (US10086360) describes the use of the same cyclodextrin-based adsorbents for sequestering flavorant compound(s) from beverages impacting palatability.