BOULDER — PanTheryx Inc., a Boulder-based life-science company, announced on Tuesday that it has acquired two companies that process colostrum harvested from cows, a key ingredient in the company’s flagship nutritional product, DiaResQ.
PanTheryx has acquired Phoenix-based APS BioGroup and Bellingham, Wash.-based La Belle Associates, and it plans to expand manufacturing capacity at the plant in Phoenix.
Financial terms of the deal were not disclosed.
Last March, PanTheryx received $53 million from Pegasus Capital Advisors LP, a private-equity investment firm based in Greenwich, Conn. The acquisitions were funded through a follow-on investment in PanTheryx by Pegasus Capital.
PanTheryx’s headquarters is at 5480 Valmont Road, Suite 325. It plans to add several research and development, marketing, finance and accounting positions, according to a company spokeswoman.
DiaResQ provides nutrients beneficial for people with diarrhea to restore normal digestive function. Acute infectious diarrhea is a leading cause of death worldwide among children under the age of five, the company said.
Colostrum is a milky fluid produced by mammals the first few days after giving birth, before true milk appears. It contains proteins, carbohydrates, fats, vitamins, minerals and proteins (antibodies) that fight disease-causing agents such as bacteria and viruses.
“Colostrum has the ability to dramatically transform health and wellness globally, but its full potential has yet to be realized,” said Mark Braman, PanTheryx’s president and chief executive. “As a science-driven company, PanTheryx has the resources and capabilities to aggressively advance research to support expanded commercial opportunities. We plan to invest heavily to unlock the full potential of colostrum.”
Independent of future discoveries, the intelligence firm Future Market Insights expects colostrum market revenue to increase to nearly $2 billion by 2026.
“As the only colostrum manufacturer with multiple production facilities, the infrastructure of the combined companies gives us the ability to ensure the supply of high quality, responsibly sourced colostrum to support the long-term requirements of current and future customers of APS and La Belle, as well as PanTheryx’s needs,” Braman said. “We are firmly committed to realizing the full potential of colostrum. By acquiring APS and La Belle, we have created the premier colostrum company capable of servicing the market and all of its needs.”