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Sale of Empirical Bioscience, Inc. to Fortis Life Science, LLC
Year: 2021
Sector: Healthcare
Terms: Not disclosed
Based in Grand Rapids, MI, Empirical Bioscience Inc. (“Empirical Bioscience”) offers molecular biology solutions, including custom assay development, CDMO services, and the contract development of speciality enzymes.
Its core offering includes: (i) the supply of custom enzymes and mastermix, (ii) manufacturing of proprietary enzymes, (iii) the supply of private label assay kits, and (iv) the supply CLIA laboratory reagents.
Growth capital fundraising for DCN Diagnostics, Inc.
Year: 2020
Sector: Healthcare
Terms: Not disclosed
DCN Diagnostics, Inc. (“DCN Dx”) is a leading specialist developer of lateral flow technology. Based in Carlsbad, CA, it offers a full suite of consulting, design, development and manufacturing solutions to clients seeking to develop lateral flow assays, mainly for diagnostics applications.
DCN Dx’s CDMO services cover all stages of the creation of a new lateral flow assay, including: (i) education courses, (ii) assay and test strip conceptualisation and feasibility analysis, (iii) product regulatory path guidance, (iv) prototyping and development, (v) assay optimisation and verification, and (vi) gap and full manufacturing.
Sale of IdentiGEN Ltd. to Merck & Co., Inc.
Year: 2020
Sector: Healthcare
Terms: Not disclosed
Pegasus Capital has advised Insight Acquisition Holdings Ltd. (“IdentiGEN”) on the sale of the business to Merck Animal Health, a division of Merck & Co., Inc. Dublin-based IdentiGEN is a global leader in DNA-based animal traceability solutions for livestock and aquaculture. Its DNA TraceBack® solution enables beef, pork, poultry and seafood products to be reliably traced through the food supply chain.
The acquisition of IdentiGEN will enable Merck Animal Health to provide end-to-end animal traceability solutions.
Transfer of Stablelab to Zoetis Inc.
Year: 2019
Sector: Healthcare
Terms: Not Disclosed
Pegasus Capital has advised Epona Biotech Ltd. on the transfer of its Stablelab diagnostic blood test to Zoetis Inc., the world’s leading animal health company.
. Zoetis Inc. will manufacture, market and distribute Stablelab, thereby immediately giving the test significantly increased global coverage in the equine health market.
Venture capital fundraising for Neurent Medical Ltd.
Year: 2018
Sector: Healthcare
Terms: Not Disclosed
Pegasus Capital advised Neurent Medical Ltd. (“Neurent Medical”) on a EUR 9.3 million venture capital fundraising led by Fountain Healthcare Partners and Atlantic Bridge Capital.
Led by founders Brian Shields and David Townley, Neurent Medical is developing a device for the treatment of rhinitis, an inflammatory disease of the nose.
Aalto Bio Reagents Ltd. Recapitalisation
Year: 2018
Sector: Healthcare
Terms: Not Disclosed
Pegasus Capital has advised Dublin-based lifesciences company, Aalto Bio Reagents Ltd. on a recapitalisation of the business. The transaction has enabled existing shareholders to exit, management to take an increased stake in the business, and has provided a stable base for the continued growth of the business. Ulster Bank Ireland funded the transaction.
Aalto Bio Reagents Ltd. Is a supplier of in-vitro diagnostics products to global pharmaceutical and diagnostic research laboratories.
Venture debt fundraising for Longboat Clinical Ltd.
YEAR: 2017
SECTOR: Healthcare
TERMS: Not disclosed
Longboat Clinical Ltd. ("Longboat Clinical") is a healthcare technology company that provides cloud-based clinical trial and patient engagement solutions to the pharmaceutical sector.
Pegasus Capital advised the company on a debt and equity fundraising that included a venture debt investment by Harbert European Growth Capital Fund. The funding will be used to accelerate the development of the business.
Sale of Tucana Health Ltd. to 4D Pharma plc
YEAR: 2016
SECTOR: Healthcare
TERMS: EUR 12,000,000
Tucana Health Ltd. ("Tucana Health") is an early-stage diagnostics company focused on using microbiome signatures to diagnose irritable bowel syndrome. It is a spin-out company of University College Cork.
Pegasus Capital advised on the sale of the business to 4D Pharma Plc.; a therapeutics company listed on the London Stock Exchange. Tucana Health will integrate with 4D Pharma Plc.'s proprietary MicroRx platform which enables the rapid selection of bacteria that have a therapeutic effect in specific diseases.
Sale of Oxford BioSystems Ltd. to BioVendor Laboratorni Medicina a.s.
YEAR: 2015
SECTOR: Healthcare
TERMS: Not disclosed
UK-based Oxford BioSystems Ltd. ("Oxford BioSystems") supplies in-vitro diagnostic products and research tools for clinical, industrial and research laboratories.
Pegasus Capital advised on the sale of the business to Czech Republic-based BioVendor Group to facilitate the retirement of the company's founder.
Management buy-in of Aalto Bio Reagents Ltd.
YEAR: 2014
SECTOR: Healthcare
TERMS: Not disclosed
Founded in 1978 by brothers Peter and Aidan O'Boyle, Aalto Bio Reagents Ltd. ("Aalto Bio Reagents") is a leading provider of raw materials to the in-vitro diagnostics industry and to research laboratories globally. The company is particularly focused on rare tropical diseases including the zika, chikungunya and dengue virus.
To facilitate the retirement of Aalto Bio Reagents' founders, Pegasus Capital identified a new management team and advised on a management buy-in transaction.
Sale of Cappella Peel Away Inc. to Stentys SA
YEAR: 2014
SECTOR: Healthcare
TERMS: Not disclosed
Cappella Medical Devices Ltd. is an Irish-based vascular medical device company. Its proprietary Peel Away sheath deployment system is used to deploy self-expanding stents with great accuracy.
Pegasus Capital advised the company on the sale of Cappella Peel Away Inc., which holds a global and perpetual licence to the Peel Away technology for coronary stent applications, to French-based Stentys SA, a medical device company listed on the Euronext stock exchange in Paris.
Fundraising for Embo Medical Ltd.
YEAR: 2014
SECTOR: Healthcare
TERMS: EUR 3,000,000
Embo Medical Ltd. ("Embo Medical") is an early stage medical device spin-out company of the National University of Ireland, Galway. It is focused on developing technology to shut down blood flow in blood vessels.
In 2015, Pegasus Capital subsequently advised Embo Medical's founding shareholders on the USD 43.5 million sale of the company to CR Bard Inc.
Sale of GenCell BioSystems Ltd. to Becton, Dickinson & Company
YEAR: 2014
SECTOR: Healthcare
TERMS: EUR 135,000,000
GenCell BioSystems Ltd. ("GenCell BioSystems") is an innovative lifesciences technology company. Its CLiC system fully automates library preparation for next-generation DNA sequencing using proprietary composite liquid cell technology.
Pegasus Capital advised on the sale of the company to US-based Becton Dickinson & Co. a major global healthcare and lifesciences leader.
The sale will enable GenCell BioSystems to commercialise its technology on a global basis under the Becton Dickinson & Co. umbrella.
Fundraising for GenCell BioSystems Ltd.
YEAR: 2013
SECTOR: Healthcare
TERMS: USD 5,000,000
GenCell BioSystems Ltd. ("GenCell") is an innovative lifesciences technology company. Its CLiC system fully automates library preparation for next-generation DNA sequencing using proprietary composite liquid cell technology.
Pegasus Capital advised on the company on a series A fundraising with private investors. The funds raised were used for research & development and to fully commercialise GenCell BioSystem's technology.