Thursday June 27, 2019 0 comments
BOULDER -- PanTheryx, a biotechnology company focused on addressing serious GI related health conditions, announced it has completed $50 million in new financing with New York-based 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, PanTheryx CEO.
“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, Perceptive Advisors portfolio manager.
“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.