NuMe Health LLC, a new biotechnology company developing evidence-based prebiotic supplements for specific health conditions, debuted July 26 with its announcement of a Series A-1 financing. NuMe was co-founded by John Elstrott (Chairman of Whole Foods Markets) and serial biotech entrepreneur Dale Pfost. The New Orleans, La.-based company has hired Dean P. Stull as CEO. The $675,000 financing will be used primarily to support corporate and product development as the company prepares to commercialize its first prebiotic products for the dietary supplement and health food markets.
“The closing of this venture financing is an important milestone for NuMe Health that should enable us to accelerate the development and launch of our first prebiotic products,” said Stull. “This is an exciting time as scientists are uncovering the critical role that the bacteria which co-exist in our bodies play in health and disease. NuMe intends to be a leader in developing novel evidence-based prebiotic products to help prevent and manage common diseases, initially targeting conditions involving metabolism and the maintenance of healthy body weight.”
Before joining NuMe Health as CEO, Stull was the Founder and Principal of Innovation Science, which provides consulting services for biotechnology, medical food, and functional food companies. He also serves as Chairman of the board of Pyxant Laboratories, which provides bio-analytical services. Previously, Stull was Chief Scientific Officer of medical foods company Efficas, President of InB: Hauser Pharmaceutical Services, and President of InB: Paxis Pharmaceuticals, which he founded.
Stull is replacing NuMe Health founding CEO Dale Pfost, who continues as a Director of NuMe. John Elstrott, Chairman of Whole Foods Market and Clinical Professor of Entrepreneurship at Tulane University’s Freeman School of Business, continues as Chairman of NuMe Health.
The company also announced that it has moved into the newly opened New Orleans BioInnovation Center (NOBIC), a technology business incubator created to foster entrepreneurship within the New Orleans bioscience community.
Press release (pdf)