BOULDER, Colo.--(BUSINESS WIRE)--PanTheryx, Inc. (“PanTheryx”), a global medical nutrition company based in Boulder, Colorado, announced today that it has entered into a $53 million financing with Pegasus Capital Advisors, L.P. (“Pegasus” or the “Firm”). PanTheryx will use the proceeds to support the global commercial launch of its infectious diarrhea product, DiaResQ®, to aggressively drive its ongoing research and development program, and for other strategic initiatives including acquisitions. Terms of the transaction were not disclosed.
Pegasus is a private equity firm founded and led by Craig Cogut. Since inception in 1996, Pegasus has invested across five private equity funds and currently manages approximately $1.8 billion in assets. The Firm’s principal investment theme is providing strategic growth capital to companies within the middle-market focused on global resource scarcity, particularly energy, waste, food, water and health & wellness.
PanTheryx is dedicated to improving global health through the development and commercialization of medical nutrition products that target the gastrointestinal microbiome. The company’s flagship product, DiaResQ®, addresses acute infectious diarrhea, a leading cause of death worldwide among children under the age of five. It was recently named in the Reimagining Global Health report as one of the 30 leading healthcare innovations with great promise to transform global health by 2030 and to help accelerate progress toward new health targets proposed in the United Nations Sustainable Development Goals.
As a Pegasus portfolio company, PanTheryx will have access to Pegasus’ operating advisors, a diverse and specialized team of differentiated business and health science experts, who will provide PanTheryx management with unbiased counsel, expansive thinking and access to new global relationships.
“With its seasoned and talented management team and innovative, proprietary technology, PanTheryx was an ideal addition to our sustainable living portfolio” said Craig Cogut, Pegasus Chairman and President. “We view PanTheryx as the cornerstone of our life sciences and microbiome strategy and a platform through which we can partner with other innovative companies that are reimagining traditional approaches to health and wellness.”
Said Mark A. Braman, President and CEO of PanTheryx, “It became evident from our very first meeting with the Pegasus team that we shared a common passion for the vast potential of nutrition driven interventions to solve major global health issues. This alignment of vision and mission made Pegasus the ideal strategic partner for us.”
This announcement follows several recent milestones for the company. Dr. Mark Grabowsky, a global health expert in disease prevention and child health, joined the company in December to direct expanding relationships with U.S. health agencies, foreign ministries of health and nongovernment organizations. This past September, PanTheryx announced a multi-country supply and licensing agreement with Dr. Reddy’s Laboratories Ltd. (NYSE: RDY), a leading global pharmaceutical company.
DiaResQ® is now available in the United States on Amazon.com and at Passport Health clinics throughout the country.
About PanTheryx:
Founded in 2007, PanTheryx is a global medical nutrition company based in Boulder, Colorado, and is dedicated to improving global health and quality of life through innovative life science. Utilizing its broad-based proprietary technology platform, PanTheryx is focused on the development and commercialization of medical nutrition products that target the gastrointestinal microbiome. The company’s lead product addresses acute infectious diarrhea, a leading cause of death worldwide among children under the age of five. For more information, log on to: www.pantheryx.com and www.diaresq.com.
About Pegasus Capital Advisors:
Pegasus is a private equity firm founded and led by Craig Cogut. Since inception in 1996, Pegasus has invested across five private equity funds and currently manages approximately $1.8 billion in assets. The Firm’s principal investment theme is providing strategic growth capital to companies within the middle-market focused on global resource scarcity, particularly energy, waste, food, water and health & wellness.