Prolacta Bioscience Closes $12 Million Funding Round
5/23/07 – Monrovia-based Prolacta Bioscience, a biotech company that provides the only commercially available human milk fortifier made exclusively from human milk for infants in the neonatal intensive care unit, announced today that it has secured more than $12 million in funding. It also says that former Baxter Bioscience president John Bacich has been named chairman of the board.
Alta Partners led the financing and was joined by DFJ Frontier, Arcturus Capital, DFJ Mercury, Funk Ventures, Phillip Capital, Gideon Hixon Fund and Draper Associates, according to Prolacta. The company says Alison de Bord, director at Alta Partners, joined the board in connection with the financing.
Prolacta says it currently sells the first and only human milk fortifier, made from 100 percent human milk, for use in the neonatal intensive care unit. Fortifier is added to a mother’s own milk, or to donor milk, which is critical for a preemie or sick baby’s ability to grow and develop.
The new funding will support greater commercialization and sales of Prolacta’s successful product line, as well as the development of additional products that meet the specific nutritional needs of these critically ill and premature infants, according to the company.
Alta Partners – www.altapartners.com
Prolacta Bioscience – www.prolacta.com
