CycloPure Completes $5 Million Fundraising
ENCINITAS, Calif., Feb. 19, 2019 /PRNewswire/ -- CycloPure, Inc., a leading innovator in water purification technologies and the developer of DEXSORBtm filtration products, today 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 DEXSORBtm 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 DEXSORBtm technologies can help protect the health of millions of people. Our DEXSORBtm 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 DEXSORBtm 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-MPtm 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, DEXSORBtm is ideal for use in water purification applications ranging from consumer point-of-use water filters to municipal drinking water plants.
About CycloPure
Founded in 2016, CycloPure is a materials science company and a leader in water purification technologies. The company's line of DEXSORBtm adsorbents are based on breakthrough technology that converts renewable cyclodextrins (derived from corn starch) into highly-adsorbent materials capable of eliminating micropollutants from drinking water. Flexible in design, CycloPure has developed two formulations, DEXSORB MP and DEXSORB PFAS, to address different problems of water treatment.
CycloPure's DEXSORB adsorbents can be produced in varying particle sizes, allowing for use across a broad spectrum of water purification applications. The company is working with global partners to produce and distribute its DEXSORB adsorbents to meet worldwide interest from manufacturers of home water filtration products, water treatment facility operators, food and beverage companies, and municipalities.
For more information about CycloPure, Inc. and its mission to make water safer with novel adsorption technology, please visit www.cyclopure.com or follow CycloPure at twitter.com/cyclopure, and facebook.com/cyclopure/. For Media Inquiries, contact Roy Berger at [email protected].
Contact: Roy Berger
Phone: (203) 858-3839
Email: [email protected]
SOURCE CycloPure, Inc.
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