Progenity Announces Closing of $125 Million Financing for Prenatal-Women’s Health Genetics and Gastrointestinal/Inflammatory Bowel Disease Precision Medicine
Progenity Inc., a private biotechnology company, announced today the completion of a privately placed $125 million Series B financing comprising equity and debt. The financing was led by a fund managed by an existing investor, Athyrium Capital Management.
“We are grateful for the continued support of our existing investors, and we welcome the new investors to the Progenity team,” said Harry Stylli, Executive Chairman and Founder, Progenity Inc. “The net proceeds from this financing will be used to accelerate development of our transformative gastrointestinal (GI) platform targeting diagnostics and therapeutics for the GI tract, including precision molecular diagnostics tools, precision therapeutics, microbiome analytics, and consumer health nutrition. In addition, the proceeds will be used to enhance our menu and service offerings to our physician clients in the Prenatal and broader Women’s Health market on a national scale. We shall continue to invest in new assets to strengthen our internal innovation and commercial efforts.”
“We are excited to continue to support Progenity's growth in patient-focused diagnostics and therapeutics,” said Jeffrey A. Ferrell, Managing Partner, Athyrium Capital Management. “The platform the team has built is a testament to the Company's vision in Women's Health and the promise of their growing Oncology and Gastroenterology franchises. With this financing, we believe that the company will be well capitalized to execute on its internal pipeline and business development opportunities.”
Progenity is a biotechnology company with a market-leading presence in Women’s Health molecular testing and a pipeline of proprietary tests and therapeutic applications under development. Progenity has a portfolio of innovative technologies and tests for pre-eclampsia, genetic carrier testing, inheritable cancer genetics, liquid biopsy and noninvasive prenatal testing (NIPT), all designed to support clinicians in providing excellent patient care. Progenity is using a transformational platform to target therapeutic agents to the GI tract and has the potential to deliver proteins orally. Further, the company is developing a portfolio of powerful precision molecular diagnostics, such as small intestine bacterial overgrowth (SIBO), microbiome analytics for both the upper and lower GI tract, and consumer health nutrition applications. With a focus on GI diseases that affect over one third of all Americans, including irritable bowel syndrome, fatty liver disease, inflammatory bowel disease, and gastrointestinal cancers; Progenity’s outpatient diagnostic and therapeutic approaches are designed to provide compelling new medical management options. For more information on Progenity’s Prenatal and Women’s Health business, visit progenity.com.
About Athyrium Capital Management
Athyrium Capital Management, LP (“Athyrium”) is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. As of September 30, 2017, Athyrium had over $3.5 billion of assets under management. The Athyrium team has substantial investment experience in the healthcare sector across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals, including biopharma, medical devices and products, and healthcare focused services. The team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.
CG Life for Progenity
Erik Clausen, (781) 608-7091
Sumit Aggarwal, CFO, (760) 494-1755
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Project Bronze: Sale of the Pradera European Retail Fund 2 Portfolio18.1.2018 02:38 | Tiedote
An affiliate of MCAP Global Finance (UK) LLP ("MCAP") has completed the acquisition of a portfolio of six shopping centres in Spain and Italy, totalling 90,000 sqm (the “Bronze Portfolio”). Terms of the transaction were not disclosed. Formerly owned by the Pradera European Retail Fund 2 (the “Fund”), managed by Pradera, the Bronze Portfolio includes Formia: Itaca Shopping Centre, a 23,000 sqm shopping centre fully let and anchored by a Panorama hypermarket, located approximately 90km northwest of Naples; and Viterbo: Tuscia Shopping Centre, a 17,000 sqm shopping centre fully let and anchored by Coop, Italy’s largest supermarket chain, located circa 80km northwest of Rome. The transaction provided an exit for the Fund’s unitholders. Pradera will continue to serve as asset manager of the Bronze Portfolio on behalf of MCAP. Accord Europe Limited served as the exclusive financial advisor to the Fund. MCAP was self-advised. ABOUT PRADERA Pradera is a market leading specialist fund and asset
CES Asia 2018 Call for Speaker Proposals Now Open18.1.2018 00:37 | Tiedote
The Consumer Technology Association (CTA) today announced that its Call for Speaker Proposals for CES Asia 2018 is now open. CES Asia seeks abstracts and speakers for the CES Asia conference program. Interested candidates, including subject matter experts from throughout Asia and across industries, have the opportunity to submit a conference proposal through February 14, 2018. Industry executives, futurists and visionaries in vehicle technology, financial tech, smart cities and other target technologies are encouraged to apply. Accepted proposals will be notified by April 2, 2018. Please review the full list of conference themes, submission guidelines and speaker overview before submitting. The CES Asia conference programming features over 30 conference sessions with more than 115 highly sought after industry experts from around the globe. CES Asia speakers present to an audience of high-level industry professionals, including 1,200 members of the global media. More than 40,000 people
STATS Announces Carl Mergele as Chief Executive Officer17.1.2018 20:04 | Tiedote
Today, STATS, the worldwide leader in sports data and intelligence, announced the hiring of seasoned software executive, Carl Mergele as Chief Executive Officer. Mergele has extensive experience leading and growing software companies, providing world class products and excellent customer service across a number of sectors. In November 2016, Mergele was a software executive of publicly traded NYSE-company Lexmark International, Inc. which was sold to a consortium of private equity investors for $3.6 billion, following a number of software acquisitions in the preceding four years. In addition to leading software companies as CEO, including Vista-owned companies, Mergele has served as a board member to nearly two-dozen corporate entities. Mergele will oversee the company’s next phase of growth, empowering STATS’ customers—the most innovative and successful sports teams, leagues, and brands—with the best data, intelligence and technology, giving them an edge over their competition. “I am t
Intersolar and Power2Drive Europe 2018: Solar Power Generates Mobility17.1.2018 18:40 | Tiedote
E-mobility is much more than just the clean mobility solution of the future. When electric vehicles are fueled by solar power, it also drives the deployment of photovoltaics forward. Intersolar Europe, the world’s leading exhibition for the solar industry, and Power2Drive Europe, the new exhibition for e-mobility and charging infrastructure, held June 20–22, 2018 in Munich, Germany under the umbrella of The smarter E Europe, will thus showcase the diverse prospects created for the environment by the combination of PV and e-mobility. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180117005988/en/ Solar Power generates mobility (Photo: Solar Promotion GmbH) Electric vehicles can be driven and charging stations can be fed with electricity from PV systems, making e-mobility a driver of the PV market. Ideally, electric vehicles are charged with solar power directly from the owner’s roof. For example, a PV system with a capacity of
Ascend Performance Materials Announces Price Increase for Nylon 6,6 Polymers, Compounds and Fibers17.1.2018 18:22 | Tiedote
Ascend Performance Materials announced today a price increase for its nylon 6,6 polymers, compounds and fibers due to escalating raw material costs. The price increase takes effect Feb. 1, 2018, and includes the following price changes: Materials Geography Price Increase Terms Nylon 6,6 polymers, compounds and fibers North America $0.10/lb. As contracts allow Non-contract business – price determined on an order-by-order basis Nylon 6,6 polymers, compounds and fibers Europe €0.20/kg. As contracts allow Non-contract business – price determined on an order-by-order basis Nylon 6,6 polymers, compounds and fibers Asia $0.22/kg. As contracts allow Non-contract business – price determined on an order-by-order basis Customers should contact their local sales representative for additional information. About Ascend Performance Materials Ascend Performance Materials is a global premium provider of high-quality plastics, fibers and chemicals and is the world’s largest integrated producer of PA66 r
Mavenir Announces Virtualized Media Breakout Controller, Bringing 5G Edge Architectures to Legacy Networks17.1.2018 17:00 | Tiedote
Mavenir, focused on transforming mobile network economics for Communications Service Providers, today announced its virtualized Media Breakout Controller (vMBC), a single white box routing platform that enables carriers to host virtual Routing, Firewall, and User plane data offload. Today’s networks, whether 3G, 4G or 5G, are under pressure to provide increased bandwidth in support of LTE and its frequency combinations, and reduce latency for network interaction, resulting in a continual need to increase capacity for traffic transported through the core of the network. Multi-Access Edge Computing standardization (MEC) is trying to resolve some of these issues by placing compute functionality at the edge but it is still mostly controlled from the core, based on conventional centralized architectures. The ability to scale network functionality using virtual elements and COTS HW platforms allows network functionality to be deployed at any location. Mavenir’s innovative solution offers the
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme