Santa Barbara Nutrients

Santa Barbara Nutrients (SBN) is an early-stage social business developing science-backed products that enhance kidney health and resilience against disease using patented and patent-pending technology established at the University of California Santa Barbara.

SBN’s first product, KetoCitra®, was launched in November, 2021. KetoCitra® is a medical food and non-prescription product specifically designed for the dietary management of stages 1-3 of Autosomal-Dominant Polycystic Kidney Disease (ADPKD).

Venn’s PRI will further scientific research in the public interest by researching the impact of KetoCitra® on metabolic health as well its safety, tolerability, feasibility and overall efficaciousness for ADPKD patients. The PRI funds will be used solely to advance this research as well as scientific research through medical evaluations of KetoCitra® for other potential renal and antiviral indications.

What is ADPKD?

ADPKD is a life-threatening genetic disease that causes kidney enlargement and function loss over time.  The National Kidney Foundation explains that ADPKD causes numerous cysts, which are filled with fluid, to grow in the kidneys. These cysts can slowly replace much of the kidneys, reducing kidney function and leading to kidney failure.

Key Facts:

  • In the United States about 600,000 people have PKD,

  • PKD is the the fourth leading cause of kidney failure.

  • Men and women are equally at risk for the disease.

For most patients, no treatments are available to slow down the progress of the disease and the only approved pharmaceutical for the disease is available to just a small fraction of the most severe cases and when used, brings with it serious risks, side effects, and lifestyle impact.

Recipient Name:  Santa Barbara Nutrients
Corporate Form:  Delaware Public Benefit Corporation
Investment Sought:  $250,000 - $2,000,000
Entrepreneurs: Gregg Betz and Thomas Weimbs, PhD
Amount Raised to Date: $481,625

Overview of Investment Terms:

  • Convertible Note

  • 5-year term

  • Accrues simple interest at 4% annually

  • Trigger Scenarios…

    After 18 Months: Optional conversion to Series A Preferred equity at a previously set price per share;

    Qualified Financing with at least $1M in new proceeds:  Automatic conversion to same type of equity at the lesser of (a) the price paid by purchasers in the Qualified Financing; or (b) a previously set price per share.

    Change of Control before Qualified Financing: Greater of (a) 1.4 times the principal and accrued interest then outstanding; or
    (b) amount due if converted to common equity at a previously set price per share.