DateJune 26th, 2019
PanTheryx Announces $50 Million Financing, Accelerates Development of its Novel Biologics and Medical Foods Candidates
As reported on Business Wire June 26, 2019
BOULDER, Colo.--(BUSINESS WIRE)--PanTheryx, a biotechnology company focused on addressing serious GI related health conditions, announced today that it has completed $50 million in new financing with Perceptive Advisors. Proceeds from the financing will be used to accelerate development of novel medical foods and biologics in the company’s pipeline as well as support expansion of its existing line of nutritionals, including its flagship product, DiaResQ.
“Many of the most debilitating diseases in the world are multifactorial, with challenges from pathogen exposure further confounded by immune dysregulation and imbalances within commensurate microbiota in the GI tract,” said Mark Braman, CEO of PanTheryx. “With this new backing from Perceptive, one of the leading healthcare investors, we have the resources to rapidly bring to market therapeutics that will greatly improve the standard of care and dramatically enhance the quality of life of patients suffering from GI conditions.”
PanTheryx’s pipeline includes novel candidates for addressing C. difficile infections, Crohn’s Disease, Ulcerative Colitis, and managing GI related side effects of cancer therapies. Rather than developing de novo molecules with a single target, the company’s candidates are being developed with bioactive backbones that contains multiple molecules with complementary mechanisms of action.
“PanTheryx’s approach of leveraging the immuno-therapeutic, anti-inflammatory and restorative fractions of bovine colostrum has the potential to revolutionize the way practitioners approach many of the difficult to treat GI conditions patients face today,” said Sam Chawla, portfolio manager, Perceptive Advisors. “Partnering with PanTheryx at this exciting time in the company’s lifecycle will allow them to accelerate the development of truly innovative therapies that we believe will fill significant unmet needs for many patients worldwide.”
Armentum Partners acted as financial advisor to PanTheryx. The Perceptive transaction brings the total financing raised by PanTheryx to $170 million.
PanTheryx is a biotechnology company committed to realizing the potential of novel interventions to address a wide range of serious GI microbiome related health conditions. The company creates first-in-class therapeutics, with products developed from its patented technology platform spanning the range of nutritional interventions to biologics. PanTheryx is also the premier supplier of bovine colostrum, which has extensive applications in health and wellness, including GI health. Founded in 2007, PanTheryx is headquartered in Boulder, Colorado and has production facilities in Phoenix, AZ and Ripon, CA. For more information, please visit PanTheryx.com.
About Perceptive Advisors:
Founded in 1999, Perceptive Advisors focuses on supporting progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare. The firm manages approximately $4 billion across its strategies, including approximately $1 billion focused in its credit opportunities vertical. The firm is headquartered in New York, NY.
For more information, visit www.perceptivelife.com.
Ryan Shay – Corporate Communications Marketing Manager