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Efficas, Inc. Closes Series A Round Of Financing


10/19/2005 5:10:57 PM

SAN FRANCISCO, April 20 /PRNewswire/ -- Burrill & Company announced today their investment in Efficas (http://www.efficas.com/). Efficas is an early stage biotechnology company that discovers, and through partnerships, develops and markets natural bioactives destined for inclusion in functional and medical foods, dietary supplements, pet products, and cosmeceuticals. The Company is strategically located in Boulder, CO, with ready access to the local expertise available from Colorado's biotechnology corridor.

Efficas is partnering with market leading consumer package goods companies having powerful marketing savvy in the emerging health and wellness market. Efficas is also assembling crucial assets for its two- pronged discovery strategy. Internally, Efficas has novel and proprietary assays and natural product libraries The Company is also actively in-licensing and acquiring early clinical and pre-clinical stage natural bioactives and seeks to be the commercialization partner for companies and research institutions with science based bioactives. Over the next few months, Efficas will also fill out its research and development, business development, and marketing infrastructure with veterans from the nutrition, pharmaceutical, and consumer package goods industries. Mark Braman, President and CEO of Efficas, said, "The investment made by Burrill, Prolog, and Great Spirit Ventures is a strong endorsement of Efficas' approach to the development, clinical validation and commercialization of bioactives targeted at the rapidly expanding health and wellness market."

"We're pleased to have led the Series A funding for Efficas, one of our promising portfolio companies. This round of financing will allow Efficas to advance its pipeline of bioactives in the indication areas of obesity, diabetes, and allergy, as well as enabling the Company to expand its discovery infrastructure. Efficas is poised to become the premier discovery and development engine supplying science-based bioactives to the nutraceuticals industry," commented G. Steven Burrill, CEO of Burrill & Company, a San Francisco-based life sciences merchant bank.

"We see that Efficas provides an important science-driven discovery capability for leading consumer packaged goods companies that is not being provided through their internal activities. As the worlds of nutrition and life-sciences converge, a new generation of health and wellness products will emerge from clinically proven bioactive compounds," said William Rosenzweig, Managing Partner of Great Spirit Ventures.

Burrill & Company's Nutraceuticals Capital Fund LP was a seed investor in Efficas, along with Prolog Ventures, of St. Louis, MO. The seed investors were joined in this Series A Round of financing by Great Spirit Ventures, LLC, of Grand Rapids, MI. Burrill's Nutraceuticals Capital Fund LP invested $2.3 Million of the $5 Million Round.

Burrill & Company

Burrill & Company is a life sciences merchant bank, focused exclusively on companies involved in biotechnology, pharmaceuticals, diagnostics, human healthcare and related medical technologies, wellness and nutraceuticals, agricultural technologies, and industrial biotechnology (biomaterials/bioprocesses).

Venture Capital

The Burrill family of venture capital funds, with over $510 million under management, includes the Burrill Life Sciences Capital Fund, the Burrill Biotechnology Capital Fund, the Burrill Agbio Capital Fund and its successor -- the Burrill Agbio Capital Fund II, and the Burrill Nutraceuticals Capital Fund.

Strategic Partnering

Burrill & Company assists life science companies in identifying, negotiating and closing strategic partnerships between large and small companies providing access to resources, technologies or collaborations essential for executing their business plans.

Burrill & Company also works with major life science companies to spinout internal assets and capitalize on their value, ranging from the outright sale of products or businesses to creation of new companies to exploit these assets. Burrill uses its extensive network to help companies identify, assess and capture ("spin-in") products and companies strategic to building their businesses.

We have completed more than 25 strategic partnerships with a value in excess of $1.5 billion.

Biotech 2004/Burrill Datacenter

Burrill & Company's annual analysis of the "State of the Industry" has been an important part of the biotech industry's view of itself over the last 18 years. Biotech 2004 -- Life Sciences: Back on Track, is a perspective on where the industry has been and is going, and was released in March of 2004. In addition, the newly created Burrill Datacenter is an online source for keeping up-to-date information from the biotech industry at your fingertips, including data from Biotech 2004. To order Biotech 2004 or to subscribe to the Burrill Datacenter, visit our website at http://www.burrillandco.com/ or call 415-591-5400.

Prolog Ventures, LLC

Prolog Ventures is an early-stage venture capital firm specializing in life sciences and related information technologies. Its managers have more than 50 years of experience in all aspects of new-enterprise development. Prolog is an active, hands-on investor, and works closely with its portfolio companies on refining strategy, sharpening execution and building strong management.

Great Spirit Ventures

Great Spirit Ventures (GSV) is an early-stage strategic investment firm focused on the areas of health, wellness and nutrition with a particular interest in consumer branded products. GSV manages strategic investment capital for the A.M. Todd Group, a 135 year-old specialty ingredient company with global dimensions. AMTG has expertise in flavor system design, functional ingredients and specialty agriculture.

Burrill & Company

CONTACT: Mandy Jones of Burrill & Company, +1-415-591-5405, or fax,+1-415-591-5401, or mandy@b-c.com; or Mark Braman of Efficas, +1-303-652-2147,or fax, +1-303-652-3339, or mbraman@efficas.com


Read at BioSpace.com


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