Cyclopure Announces Series B Funding and Selection by C&EN as Top 10 Start-Up
Published on by Trudi Schifter, CEO and Founder AquaSPE in Business
Cyclopure Announces Series B Funding and Selection by C&EN as Top 10 Start-Up
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ENCINITAS, Calif., Nov. 11, 2019 /PRNewswire/ -- Cyclopure, Inc., a leading innovator in water purification technologies and the developer of DEXSORB™ filtration products, has announced new funding in a Series B round led by principal investor Dr. Irwin Jacobs. Investment proceeds of $4+ million will be used to accelerate commercialization of the company's eco-friendly DEXSORB® adsorbents. This funding, together with financing from its earlier Series A and SBIR grants from the National Science Foundation and the National Institute of Environmental Health Sciences, brings Cyclopure's total capital raised to over $10 million.
"We can't thank Dr. Jacobs enough for his commitment and support of Cyclopure's efforts to develop novel solutions to make safe and affordable drinking water available in the home," said Cyclopure Chief Executive Officer, Frank Cassou. "Irwin and his wife Joan care deeply about community health issues. We appreciate their belief in our mission to restore home tap water to drinking water quality for the benefit of personal health, family incomes and the environment."
"It is exciting to see a technology with the potential to address many of the challenges that we face today," commented Dr. Jacobs. "Access to affordable and safe water is fundamental to healthy communities. It also can reduce reliance on single use plastics; a major environmental problem. Sustainable use of water resources and healthy ecosystems are increasingly under stress from changes in global environmental conditions. We are pleased to support innovation that targets these problems."
Selected today by American Chemical Society's C&EN magazine as one of the 2019 Top 10 Start Ups to Watch, Cyclopure has developed a line of DEXSORB adsorbents that have demonstrated excellent performance in the removal of microtoxins now present in tap water, including Per- and Polyfluoroalkyl Substances (PFAS), like PFOA and PFOS. A growing number of these contaminants are linked to cancer, brain and nervous system damage, developmental defects, fertility problems and endocrine disorders.
Cassou continued, "Dr. Jacob's financing support comes at an opportune time for Cyclopure as we just announced the launch of a DEXSORB-based home water test kit for PFAS, our first commercial product using DEXSORB adsorbents. We are planning a series of new test kit and purification products between now and Fall 2020. Commercially, we want to use our smart and sustainable science to offer a suite of solutions to restore tap water to a level of trust with households. Environmentally, we want to help close the window on single use plastics as a water source – it's bad for the pocketbook, unreliable in quality and awful for the environment. We're old school; we think 'drinking water' should be drinkable."
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