Bionutrics, Inc. Forms Alliance with AC HUMKO

Biopharmaceutical developer, Bionutrics, Inc., has announced an $8 million transaction with AC HUMKO Corp. of Memphis, TN, which includes the sale of $2 million of rice bran processing technology for AC HUMKO's use in North America.

As part of the alliance, Bionutrics will acquire interest in AC HUMKO's rice bran oil and rice-derived products business. AC HUMKO will supply the patented rice bran-derived Clearesterol ingredient used in Bionutrics evolvE product, a cardiovascular dietary supplement with cholesterol lowering and antioxidant properties.

AC HUMKO's CEO, Daniel Antonelli, will join the Bionutrics board of directors.

Back in February, Bionutrics and Novartis Nutrition entered into an agreement to work together with Novartis for the potential use of Clearesterol as a functional food ingredient. Novartis Nutrition made an investment in Bionutrics in exchange for worldwide rights to evaluate Bionutrics patented technology and rice bran-derived products.

AC HUMKO, the former edible oil processing division of Kraft Foods, is a leader in vegetable oil manufacturing and rice milling.

Bionutrics develops novel, biologically active compounds derived from natural sources, which have applications as ethical drugs, functional food ingredients and dietary supplements.