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L-Nutra, a nutrition tech company, is looking to close on a $100 million Series D round this year, CEO Joseph Antoun tells Axios Pro exclusively.

Why it matters: The company expanded the round from its initial $75 million target to fuel "rapid growth" of its medical nutrition division.

By the numbers: Los Angeles-based L-Nutra has so far raised $47 million of the $100 million goal.

It has raised $105 million to date, and its pre-money valuation hovers around $350 million, Antoun says.

L-Nutra is on track to generate $60 million in gross sales this year and expects to be EBITDA positive in 2026.

What we're watching: L-Nutra is considering going public in one to three years, the CEO says.

Catch up quick: Investors include Moderna CEO Stéphane Bancel and Los Angeles private equity firm Brentwood Associates.

How it works: Since its founding in 2009, L-Nutra has grown into a multi-division company spanning consumer longevity and health care.

It launched Prolon in 2016, a consumer division that includes its flagship product, Prolon 5-Day Fasting Mimicking Diet, which it claims supports deep cellular rejuvenation through patented nutrition technology.

Since 2016, its suite of consumer products now includes a variety of intermittent fasting and longevity foods intended to help people nourish their bodies and age well.

What they're saying: "What we figured out is a way to nourish the body while keeping the cells in a fasting mode," Antoun says.

Zoom in: The company also offers L-Nutra Health, a medical division offering precision nutrition programs designed to support remission in type 2 diabetes and metabolic disease.

L-Nutra products and programs have been tested in 47 human trials, and outcomes include weight loss with muscle protection and less reliance on medications, per the company.

What's next: L-Nutra is testing clinical nutrition programs designed to treat autoimmune diseases and cancer.

Exclusive: L-Nutra targets $100M Series D

Its pre-money valuation hovers around $350 million.

Illustration of $100 bills being twirled on a fork.

L-Nutra, a nutrition tech company, is looking to close on a $100 million Series D round this year, CEO Joseph Antoun tells Axios Pro exclusively.Why it matters: The company expanded the round from its initial <a class="gtmContentClick" data-vars-link-text="$75 million target" data-vars-click-url="https://www.axios.com/pro/retail-deals/2024/08/27/l-nutra-ipo-series-d-raise" data-vars-content-id="cfa6757b-b754-4906-a4fc-0b30d8fd3af4" data-vars-headline="Exclusive: L-Nutra targets $100M Series D" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/retail-deals/2024/08/27/l-nutra-ipo-series-d-raise" target="_self">$75 million target</a> to fuel &quot;rapid growth&quot; of its medical nutrition division.

Exclusive: L-Nutra targets $100M Series D

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