Novagevity to Develop Canada’s First Plant-Based Meal Replacement Beverage, Receives $300k from ACOA
Tuesday, July 21, 2020 – Halifax, Nova Scotia — Novagevity Incorporated will receive $300,000 from the Atlantic Canada Opportunities Agency (ACOA) to accelerate their launch of plant nutrition products to optimize human health, nutrition, and recovery. The funding was announced today by Andy Fillmore, Parliamentary Secretary to the Minister of Infrastructure and Communities and Member of Parliament for Halifax, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA.
Novagevity co-founders Dr. Mary Lynch and Gregg Curwin are developing plant-based meal replacement beverages for people with various medical conditions and for those looking to optimize their nutrition.
Novagevity’s proprietary formulation is based on the principles of Medical Nutrition Therapy, an evidence-based approach to treating chronic conditions using tailored nutrition plans. The novel product will offer the universal benefits of using scientifically backed ingredients that are plant-based, organic, and allergen-free.
“Novagevity is a great example of the world-leading research and product development that is happening right here in Nova Scotia,” said MP Fillmore. “The Government of Canada is pleased to partner with the Novagevity team on its innovative nutritional products.”
“There is a significant unmet need for an organic, plant-based, meal replacement that can be tolerated by patients with medical conditions,” said Dr. Lynch. “We look forward to providing our patients a vegetarian option that actually tastes good.”
Novagevity’s focus is on delivering quality nutrition to persons who need it the most. Research shows that malnourished patients stay in hospital 2-3 days longer and have a higher probability of readmission within 30 days.
“The immediate opportunity to disrupt the food, nutraceutical, and pharmaceutical industries with one product is extremely exciting,” said Mr. Curwin. “The involvement of numerous local agencies, including ACOA, has been critical in our ability to succeed.”
In addition to its project with ACOA, Novagevity is working in partnership with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), Natural Products Canada, Nova Scotia Business Inc, Saint Mary’s University Entrepreneurship Centre, Mount Saint Vincent Nutrition Lab, The Labs at Innovacorp, and BioNova.
Both Dr. Lynch and Mr. Curwin have founded and exited previous ventures, including Panag Pharma and Truleaf, respectively. Together, they plan to launch Novagevity’s commercial brand, Sperri, later in 2020. Their first product will be available in multiple flavours and appropriate for most conditions. The Company plans to develop follow-up meal replacement beverages for specific medical groups. For more information visit Novagevity.ca