Banking & Finance  March 30, 2016

PanTheryx lands $53M investment from Pegasus Capital Advisors

BOULDER — PanTheryx Inc. on Wednesday announced that it has received a $53 million equity investment from Pegasus Capital Advisors that will help boost the worldwide rollout of the Boulder-based company’s product that treats infectious diarrhea.

The cash infusion will help not only with ongoing product development but also PanTheryx’s intent to acquire other firms. President and chief executive Mark Braman said the company could close its first acquisition by the end of April, a move that will allow PanTheryx to bring its manufacturing — currently contracted out to sites in the United States and Malaysia — in-house.

“We’re certainly excited to have completed the transaction with Pegasus,” Braman said. “It will be a big help for the company going forward.”

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Braman said he couldn’t comment on the structure of the equity deal or whether the new investment by Pegasus represents a minority or majority stake.

Pegasus manages roughly $1.8 billion in assets, investing in companies focused on areas of global resource scarcity like energy, waste, food, water and health.

“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,” Pegasus chairman and president Craig Cogut said in a press release.

Founded in 2007, PanTheryx launched its flagship product, DiaResQ, last year in the United States in Passport Health Clinics, which offer advice, immunizations, vaccinations and travel insurance for those traveling abroad. In addition to rolling out internationally in Malaysia, Singapore and Brunei, PanTheryx also launched its product on Amazon earlier this month. The Amazon launch was key given that a large portion of PanTheryx’s business in the United States comes from international travelers.

“In most cases, consumers do a lot of planning when they’re making an international trip in particular,” Braman said. “It’s more of a planned purchase.”

He said retail distribution will start later this year and accelerate rapidly in the first quarter of 2017. Distribution to Mexico, the Philippines, Indonesia and Pakistan will all begin yet in the first half of this year, meanwhile.

PanTheryx has 17 employees, including 13 in Boulder. Braman said he expects the total number to grow by 15 to 20 people by the end of the year, with two-thirds of the new hires in the United States.

The privately held company doesn’t disclose revenue, but Braman said sales are going well so far and that, perhaps more importantly, initial feedback on effectiveness has been strong.

“We’re very encouraged by the results we’re seeing,” Braman said.

BOULDER — PanTheryx Inc. on Wednesday announced that it has received a $53 million equity investment from Pegasus Capital Advisors that will help boost the worldwide rollout of the Boulder-based company’s product that treats infectious diarrhea.

The cash infusion will help not only with ongoing product development but also PanTheryx’s intent to acquire other firms. President and chief executive Mark Braman said the company could close its first acquisition by the end of April, a move that will allow PanTheryx to bring its manufacturing — currently contracted out to sites in the United States and Malaysia — in-house.

“We’re certainly excited to…

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