Ironic Biotech, a Swedish startup, has raised $1 million in a pre-seed round to develop a new generation of plant-derived proteins containing iron, which can be transformed into supplements with no side effects. These patented compounds have iron absorption rates similar to those of meat, and are extracted through precision fermentation at a research laboratory at the University of Lund in Sweden. The funding round is led by Nordic Foodtech VC, a Finnish-based venture capital firm that supports sustainable agriculture and food tech solutions.
The team behind Ironic Biotech plans to expand its production capacity beyond pilot volumes and trial new production systems to meet the increasing demand for iron supplements. Iron is crucial for human growth and development, as it is used to make proteins that carry and store oxygen in the body. Iron deficiency affects over 2 billion people globally, leading to various health issues such as fatigue, headache, and chest pain. Women, in particular, are at risk of iron deficiency due to menstrual blood loss, making them a primary target demographic for iron supplements.
Current iron supplements on the market are based on inorganic iron, which is poorly absorbed by the body, leading to side effects such as dizziness, stomach pain, and nausea. Ironic Biotech aims to address this issue with its plant-derived iron compounds, which are produced using precision fermentation and have shown to have no side effects in preliminary studies. The company’s liquid iron product can be made into various formats, including powder, frozen, or granulated, and can be used as a food ingredient to fortify food products.
Despite being a newcomer in the startup ecosystem, Ironic Biotech has received endorsements from the Royal Swedish Academy of Engineering Sciences and has won multiple awards for its early achievements in health and food tech. CEO Nélida Leiva Eriksson, who holds a PhD in protein design and molecular biology, founded the company in 2020 after experiencing severe anaemia herself. She believes that women are more likely to address the issue of iron deficiency, as they are more likely to experience the debilitating effects of the condition.
Leiva Eriksson envisions Ironic Biotech’s plant-derived iron solution to be a game-changer in the food and supplement industry, offering a sustainable and effective alternative to traditional iron supplements. The company is working on partnerships with food companies to incorporate its product into various food products, such as orange juice and milk beverages. With the increasing demand for iron supplements worldwide, especially among women and the elderly, Ironic Biotech aims to launch its biobased solution by 2025 and make a significant impact on global health.
In conclusion, Ironic Biotech’s innovative approach to producing plant-derived iron supplements has the potential to revolutionize the way iron deficiency is addressed globally. By utilizing precision fermentation to extract organic iron compounds, the company aims to offer a sustainable and effective alternative to traditional iron supplements that have been associated with unwanted side effects. With the support of Nordic Foodtech VC and plans for expansion, Ironic Biotech is well-positioned to make a significant impact on the health and well-being of people worldwide, particularly women who are most affected by iron deficiency.
