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
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
FCF: Greenpeace Allegations Unfair and Deceptive26.5.2018 18:02 | Pressemelding
FCF Fishery, Co. President Max Chou today released the following statement regarding recent misleading Greenpeace human rights abuse allegations made against the company: “We realize that as one of the world’s largest marine products integrated supply chain service providers with more than 30 subsidiaries, fishing bases, and shipping agents around the world, we are a prime target for organizations seeking to garner publicity and those not fully aware of the latest development and improvements that are currently taking place in the fishery industry. However, in their efforts to curb egregious human rights abuses, we believe it is unfair and deceptive to lump our company in with those who condone cruelty and neglect of their laborers. “Although we recognize the meaningful work of Greenpeace in exposing and eliminating human trafficking and sustainability abuses, we are equally disappointed that they are implicating FCF in old incidents and cases that have since been in all instances addr
NBC Universal, Havas Group and Endemol Shine Discuss a Future with AI, Blockchain and VR at IBC201825.5.2018 18:20 | Pressemelding
As is fitting for the home of technical invention and innovation, IBC2018 will present a broad range of ambitious and timely elements to engage, inform and inspire content creators and owners from around the world that will visit the RAI, Amsterdam from 13-18 September 2018. The must-attend event includes fresh inspiring conference themes that will focus on innovative new platforms, audience engagement and interaction/immersion, as well as a wide-ranging exhibition that will encompass all the latest technologies from AI and VR to advanced cloud-based workflows. Registration for IBC2018 is now open at: https://ibc.itnint.com/IBC18/Online/RegLogin.aspx “The media landscape is evolving at an unprecedented rate, with new platforms, technologies and even new realities at our disposal that offer greater opportunities for content innovation and audience engagement,” said Michael Crimp, CEO, IBC. “IBC is preparing an outstanding programme of conference sessions, forums and exhibition features
Pavilion of France at the 16th International Architecture Exhibition – La Biennale di Venezia25.5.2018 09:26 | Pressemelding
The concept for Infinite Places , developed by the Encore Heureux team, led by the architects Nicola Delon, Julien Choppin, and Sébastien Eymard, presents places produced by new and inventive processes that generate architectural processes of value. This exhibition project, which considers the territory as a whole, highlights initiatives on the part of civil society and communities that embody a certain free spirit of experimentation and the possibilities opened up by architecture. These projects are expressions of programmatic freedom and generosity, and they live up to the theme of Freespace adopted by the two commissioners of the 16th International Architecture Exhibition – La Biennale di Venezia, the Irish architects Yvonne Farrell and Shelly McNamara. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180525005191/en/ French Pavilion Venice Architectural Biennale, copyright S. Scher Statement of the curators « Through the I
SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data25.5.2018 08:30 | Pressemelding
SIA, a European high-tech leader in payment infrastructure and services, and First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology, have signed an agreement for SIA to acquire First Data’s card processing businesses in parts of Central and Southeastern Europe for €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data. This acquisition by SIA provides card processing, card production, call center and back-office services, including 13.3 million payment cards, 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries: Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia. As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA. “This acquisition is in line with our strategy to
Westinghouse Accident Tolerant Fuel Development Moves Forward with Cooperation Agreement with ENUSA25.5.2018 06:00 | Pressemelding
Westinghouse Electric Company today announced that it will collaborate in the development of its EnCore® Fuel, the revolutionary accident-tolerant fuel (ATF) design, with ENUSA Industrias Avanzadas (ENUSA) through a Frame Cooperation Agreement (FCA). “This agreement serves to strengthen the technical and commercial relations between ENUSA and Westinghouse as we work to develop leading nuclear fuel technology,” said Torbjörn Norén, European Fuel Group and EMEA Fuel Delivery Director at Westinghouse. “Westinghouse’s work with ENUSA in the Spanish and European Fuel Group markets will help to facilitate agreements with customers to launch EnCore Fuel demonstration programs in their plants.” Under the terms of the agreement, the newly signed FCA establishes the framework that will regulate the different Joint Development Programs (JDPs) to be launched between both companies. The first JDP will evaluate the application of the segmented rod concept and develop models of ATF / EnCore fuel beha
BRIC HOLDING Offers Aimedis – ICO: Germany’s Leading eHealth Platform Goes Public25.5.2018 06:00 | Pressemelding
Since Wednesday, May 16, investors finally have a chance to claim their share of a unique success story, the international market roll-out of Aimedis, by purchasing AIM tokens: AIM tokens are now available with a 20% presale bonus PLUS a 5% early bird-premium only at the Czech investment house BRIC INVEST https://www.bric-holding.com/home_en.html! Aimedis aims to shape the future of healthcare by providing an advanced and fully operational platform, secured by blockchain and supported by AI, that enables patients to take control, secure the exchange of their medical data, access the best healthcare providers, get advice, prescriptions, personal health upgrades and to become part of the health revolution. And we are not talking about the future: The revolutionary Aimedis platform is already deployed as a live working system and is already in use in major hospital groups in Germany! By issuing 300 million AIM tokens at a nominal value of 0,12 USD each, the Aimedis consortium will raise c