Guelph-Based Nutrasource Secures $2 Million from BDC Capital for R&D
GUELPH and KITCHENER, June 3, 2019—BDC Capital’s Growth and Transition Capital division provided a $2-million non-dilutive facility to fund research and development at Guelph-based Nutrasource Pharmaceutical and Nutraceutical Services, a global contract research organization providing regulatory, R&D, clinical trials, and analytical testing solutions for the health product and food sectors. Founded in 2002, Nutrasource helps companies gain market access by developing regulatory strategies, validating product claims, generating clinical research, and providing market guidance at all stages of the supply chain. The company has notably developed third-party certification programs for fish oils, probiotics and non-GMO products, along with a unique concept-to-claim platform for global clinical and regulatory programs.
BDC Capital is advancing funds for Nutrasource’s R&D expenditures that are eligible under the Government of Canada’s Scientific Research and Experimental Development (SR&ED) tax incentive program. The loan’s flexible terms are tied to the refund the company will obtain at a later date through the program, the timing of which may vary. This is the third such SR&ED facility provided to Nutrasource by BDC Capital and the sixth financing altogether.
“BDC Capital has been a long-time supporter of Nutrasource’s vision and strategy of becoming the world leader in nutrition-based claims validation science,” says William Rowe, Nutrasource’s President and CEO. “This funding is mission-critical for Nutrasource to further its global reach by developing additional core service offerings to support its customers.”
This transaction was led by Mark Lunick, Director, Growth and Transition Capital, for Southwestern Ontario. “The high growth of the supplements and non-GMO foods markets and the concurrent need to verify the claims made by these products are strong drivers that play in Nutrasource’s favour,” says Lunick. “Nutrasource’s deep in-house expertise and extensive network of specialized external labs for niche testing will enable the company to take advantage of the rapid expansion of its markets as it seeks to maintain its own consistently strong growth.”
About Nutrasource Pharmaceutical and Nutraceutical Services
Nutrasource is a full-service contract research organization that helps health companies bring products to market with strong science and regulatory confidence. Through our vertically integrated service platform, Nutrasource provides international regulatory, clinical, and product testing solutions for dietary supplements, pharmaceuticals and everything in between. www.nutrasource.ca
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.