ByHeart, an FDA-registered baby formula manufacturer, recently received $8.25 million through the Redevelopment Assistance Capital Program (RACP).
This brings the state’s total investment to $10 million.
The funding, along with private investments, will allow ByHeart to create 50 new jobs and increase capacity. This also allows the company to feed an additional 250,000 babies within six months and an additional 500,000 babies, more than 15 percent of new births in the United States annually, within two years.
“We are in a period of unprecedented demand and are incredibly proud to be in a position – as both the first new infant formula manufacturer to be registered by the FDA in 15 years and as a company dedicated to farm-to-formula oversight and quality – to be able to pull levers to increase capacity and scale as quickly as possible to support parents during this challenging time,” ByHeart Co-Founder and President Mia Funt said.
The company’s first $1.75 million RACP investment allowed it to complete its canning line and dry blend area at its new facility in Reading.
ByHeart is the first new FDA-registered manufacturer to hit the market in more than 15 years and the fifth infant formula manufacturer in the United States.