LactaLogics, a human milk-based nutrition pioneer, announced the successful closing of over $92 million in funding. This milestone enables the company to complete a state-of-the-art facility for producing human milk-based fortifiers and standardized donor milk.
The benefits of human milk for infant development are documented extensively in scientific literature. However, its availability is constrained in neonatal intensive care units (NICUs), and formula is often the only option for supplemental feedings after a baby is home. This creates a significant gap in nutritional choices for clinicians and parents alike.
With innovative large-scale manufacturing, utilizing its proprietary Gentle-UHT processing technology, LactaLogics expands access to human milk and ensures a reliable supply of critical nutrition.
The company’s funding sources include:
1. USDA Food Safety Loan—Supported by Magnolia Bank, LactaLogics builds resilience in critical infant nutrition supply chains by collecting milk surpluses from donors throughout the United States, processing them in Florida, and distributing them to hospitals and families.
2. US Department of Energy CPACE Loan – Underwritten by Pace Equities and with significant support from the state of Florida, St. Lucie County, and the City of Port St. Lucie, LactaLogics is strengthening manufacturing in the country while responsibly stewarding energy resources.
3. Private Investors – Several private investors dedicated to manufacturing and healthcare technology advancements joined LactaLogics to invest in building a strong nutritional foundation for all infants.
The funding will be used to implement the company’s human milk processing technology at its 71,000-square-foot Port St. Lucie, Florida facility.
KEY QUOTES:
“From the outset, our focus on getting more human milk to babies has never wavered. This new facility stands as a testament to the individuals who have helped this mission and will empower generous mothers with surplus breast milk to safely support infants in need. For the first time, at-risk infants will have access to human milk, from premature birth until mom can successfully meet her breastfeeding goals.”
– Glenn Snow, CEO and co-founder of LactaLogics
“This financing marks a pivotal moment for LactaLogics. It reflects a combined effort of both government and private sectors, seeing the need to empower families across America with nutritional choice. By bridging the gap in nutritional options available, we’re not only addressing a pressing healthcare challenge but also laying the groundwork for healthier future generations.”
– Wendy Mueller, CFO of LactaLogics
“It is gratifying to provide long-term support for the mission and the purpose of this organization. We are excited about the possibilities surrounding this project and the overall impact LactaLogics will have on infants, their families, and the medical field. Magnolia Bank is proud to partner with unique businesses like LactaLogics who need an adaptive and innovative lender.”
– Jerry Spruill, senior vice president of Magnolia Guaranteed Lending
