TUCSON, Ariz., April 12 /PRNewswire/ -- Niadyne, Inc., a company dedicated to the discovery and development of uniquely effective topical products, including products for the treatment and prevention of sun damage to the skin, today announced that Catterton Partners, one of the nation's leading consumer- focused private equity firms, has led an investment in the company. The proceeds will help fund Niadyne's scientific discovery efforts and commercial expansion. Terms of the transaction were not disclosed.
"We are delighted to announce our partnership with Catterton," said Elaine L. Jacobson, Ph.D., and Myron K. Jacobson, Ph.D., Niadyne's principal scientists and co-founders. "The resources that Catterton can provide will enable us to expand on the success of our 25 years of scientific discovery, and to develop exciting new commercial applications for our library of patented compounds."
"The Niadyne team has pioneered breakthrough science, particularly concerning the therapeutic effects of nicotinic acid on the skin, and also developed highly effective products based on their patented discoveries," said J. Michael Chu, managing partner of Catterton Partners. "We are excited to participate in this investment and are confident that there are significant opportunities in the market for skin care and other products based on the results of their scientific advancements."
As part of the transaction, Niadyne will operate as two divisions under the Niadyne, Inc. umbrella: Niadyne Development and Niadyne Commercial. Melisse Shaban will serve as chief executive officer of Niadyne, Inc., the overall brand, as well as CEO of Niadyne Commercial, a division dedicated to identifying commercial applications for patented Niadyne discoveries. Dr. E. Jacobson and Dr. M. Jacobson will continue to lead the scientific research division as officers of Niadyne Development, where Richard A. Brown, a Niadyne co-founder, will be CEO.
Ms. Shaban said, "This new partnership will enable Niadyne to continue its scientific discoveries on a broader scale and to create exciting new products with measurable benefits that will enhance people's lives. I'm confident that through the unique combination of Niadyne Development and Niadyne Commercial we will fully realize the company's tremendous growth potential."
About Niadyne, Inc.
Niadyne, Inc. is a company dedicated to the discovery and development of patented and clinically proven products, delivered via topical application, for the purpose of improving skin and hair conditions, including products designed to treat and prevent damage to the skin caused by sun exposure. Niadyne's principal scientists and co-founders, Elaine L. Jacobson, Ph.D., and Myron K. Jacobson, Ph.D., are professors at the University of Arizona College of Pharmacy and members of the Arizona Cancer Center. Niadyne products are based on more than two decades of biomedical research by the Jacobsons and their co-workers on the involvement of nicotinic acid and its bioactive form, nicotinamide adenine dinucleotide (NAD), in cellular DNA repair, energy metabolism and stimulation of leptin release. Their research has been continuously funded by the National Institutes of Health for more than 25 years and has resulted in more than 100 publications and numerous patents and patent applications. Additional information about Niadyne, Inc., and its technology platform can be found at http://www.niadyne.com/ .
About Catterton Partners
With more than $1.2 billion under management, Catterton Partners is a leading private equity firm in the U.S. focused exclusively on the consumer industry. Catterton's combination of investment capital, strategic and operating skills, and network of industry contacts has enabled it to become the most sought after private equity firm in the consumer sector. Catterton considers investments across a number of targeted consumer-industry "verticals": Food and Beverage, Retail and Restaurants, Consumer Products and Services, and Media and Marketing Services. Catterton's unique combination of value-added resources has resulted in the creation of numerous market leading companies, such as Build-A-Bear Workshop, PF Chang's China Bistro, Baja Fresh, Farley's and Sathers Candy Co., Titan Outdoor, Pharmaceuticals Holdings, Inc., Gold Coast Beverage Distributors, Odwalla, Inc., Wellness Pet Food, and Kettle Foods. Since being founded in 1990, Catterton has had one of the strongest investment track records in the consumer industry. More information about the firm can be found at http://www.cpequity.com/ .