Sweden-based Ironic Biotech secures €1M to tackle global iron deficiency and anemia crisis

Ironic Biotech, a Swedish biotech startup, announced that it has secured €1M in a pre-seed round of funding. Helsinki’s Nordic Foodtech VC led the investment.

The startup has discovered a new generation of plant-derived proteins rich in bioavailable iron, produced via precision fermentation, promising no side effects. These proteins offer potential as ingredients in food or supplements.

Ironic Biotech will use the funds to drive R&D work, expand its patent portfolio, and optimise the production process. The team is also seeking collaborations with food and supplement industry partners.

Louise Heiberg, Investment Director at Nordic Foodtech VC, says, “New ingredients like this enable the food industry to tackle a global health problem with new products. Worries about iron uptake are also a significant barrier to reducing the use of red meat in the Western diet.”

“Putting a fundamental innovation like this to work takes effort, talent, and a bit of time. As an early investor, we work tightly with the team to build a solid foundation for success.”

Helping people who suffer from iron deficiency and anemia

According to a statement from Ironic Biotech, iron deficiency affects up to 25 per cent of the global population, causing severe exhaustion, fatigue, heart palpitations, learning disabilities, and anemia. 

These symptoms often attributed to various diseases or life circumstances, contribute to the widespread underdiagnosis or ignorance of iron deficiency and anemia.

Dr Nélida Leiva Eriksson, founder of Ironic Biotech, says, “We want to help 2 billion people to prevent and recover from iron deficiency and anemia. The lack of iron is partly responsible for the performance gap between males and females, as women naturally lose iron regularly.”

“The situation is widely unaddressed – a sad story that applies to many female health issues, iron deficiency not being an exception. I know what lack of iron can do to a person, as I was one of the millions of women suffering from it.”

As red meat consumption declines due to environmental and health concerns, iron deficiency becomes more prevalent, especially among women embracing plant-based diets. 

Meanwhile, existing iron supplements often trigger side effects, as our bodies struggle to absorb over 90 per cent of the iron they contain, leading to digestive issues, nausea, and potential organ damage.

For severe cases of anemia, iron infusion therapy is often prescribed, involving direct injection of iron into muscles or blood vessels. However, accessibility remains a significant barrier due to its exorbitant cost, ranging from 2,000 to 4,000 euros per treatment.

Ironic Biotech’s patented compounds offer a breakthrough in iron supplementation, having no side effects associated with current iron supplements. Tasteless and stable at room temperature, these compounds are “perfect” for incorporation into food and supplements.

With absorption rates comparable to meat-based iron, they address iron deficiency effectively, catering to consumers with inadequate dietary iron intake. 

Moreover, they also provide a solution for companies seeking to align their products with plant-based diets, thereby tackling the iron efficiency challenge.

Founder Eriksson adds, “Our team wants to empower women and put an end to the tiredness and fatigue caused by iron deficiency. I refuse to believe that being a woman should mean constantly feeling drained. I am determined to provide a solution that truly works.”

Brief about Ironic Biotech

Ironic Biotech aims to alleviate iron deficiency and anemia affecting 2 billion individuals worldwide.

The company was founded in 2020 by Dr Nélida Leiva Eriksson, a PhD in protein design and molecular biology and has worked as a visiting fellow at Harvard and the University of Essex. 

In 2023, Eriksson teamed up with Eskil Åhlin, a former Sony global business developer, and Hans Holm, an innovation “pioneer” with over 30 years in food ingredients and dietary supplements.

The Swedish startup says, “At Ironic Biotech, we believe in science and human values. We use biotechnology to develop innovative and effective solutions for iron deficiency and other health issues.”

“We are transparent about our methods and results, and we uphold the highest standards of integrity and ethics. We are also committed to gender equality and social responsibility, both within our company and in the communities we serve.”