A former executive with a Columbia company is bringing a nutraceutical company to the University of Maryland’s BioPark in Baltimore — via Denmark.
Angela Tsetsis is president and CEO of Fluxome, which will join two dozen other companies at the Baltimore biomedical research park. Tsetsis is re-establishing the company’s U.S. headquarters; it previously had its U.S. office in Pennsylvania.
Fluxome produces a pure and natural form of resveratrol, a potent antioxidant also found in red wine, according to its website. The company has 25 employees, three of whom will work in the new Baltimore quarters.
“It felt like a home,” Tsetsis said of the university’s BioPark.
In a way, Maryland is a home to Tsetsis, who was vice president, corporate strategy at Martek Biosciences in Columbia for 19 years. The company, which makes omega-3 nutritional supplements, was sold last year to Royal DSM of the Netherlands for $1.1 billion.
Tsetsis said she was looking for a change when Fluxome offered its CEO position to former Martek CEO Steve Dubin. Dubin, who has known Tsetsis since they worked together at a machine tool business before Martek, recommended Tsetsis, she said.
She has been with Fluxome since April, spending 75 percent of her time in Denmark and the rest in the U.S.
“We were thrilled by the connection with Martek,” said Jim Hughes, vice president of research and development at the University of Maryland, Baltimore. “One of the natural evolutions of a company growing and being acquired is these spinoff leaders. We’re quite keen to keep those in Maryland.”
At the BioPark, Fluxome will focus on the company’s commercial and marketing operations, Tsetsis said.
“We started as a tech company where we used yeast in fermenting process to produce nutritional compounds,” she said of Fluxome. “We have several things in the pipeline.”
While BioPark officials are excited by the international expertise and culture that Fluxome brings there, Tsetsis said, the company will benefit from access to university facilities and interacting with a small-business community.
She said Fluxome still is looking for approval for its resveratrol product in key Asian markets, such as Japan.
SNBL Clinical Pharmacology, a Japanese company and 96-bed clinical pharmacology center, was the first company to move into the BioPark.
Hughes said Fluxome’s presence exemplifies the BioPark’s efforts to market itself and Maryland as a place to locate.
Tsetsis would not disclose the company’s revenues and referred to Fluxome as a “small startup.”
“We’re very excited to have found a home in the BioPark. We look forward to growing in the biotech community,” she said. “We want to be a leader in resveratol in the marketplace. We want to be out front with the messaging of its benefits, and we want to bring other quality nutritional products to the marketplace.”