SAN FRANCISCO and NEW YORK, Aug. 15, 2017 (GLOBE NEWSWIRE) -- BioQ Pharma Incorporated (“BioQ”), a privately held specialty pharmaceutical company, today announced that it has secured new financing of up to $55 million from Madryn Asset Management, LP (“Madryn”), an alternative asset management firm focused on investments in innovative healthcare companies. The proceeds of the investment will be used by BioQ to support product commercialization, scale-up manufacturing and operations, and continue new product development.
BioQ is focused on the development and commercialization of ready-to-use infusible pharmaceutical and biological products. The Company’s infusion platform is intended to address some of the most pressing unmet needs in infusion today: cost, medication error, sterility, efficiency, and patient quality of life. BioQ’s vision is to set a new standard of care in the presentation and administration of large volume infusible pharmaceuticals and biologicals via its proprietary pre-filled, unit-dose infusion systems that can be deployed quickly and conveniently at the point of care with one touch.
“We believe BioQ’s platform technology has the potential to radically transform the delivery of infusion medicine through improved safety, enhanced convenience, and decreased costs—game-changing enhancements that epitomize the types of companies, products, and technologies we invest in,” said Avi Amin, Managing Partner of Madryn. “Our funding will assist the Company in commercializing its innovative infusion systems globally through its expanding network of strategic commercial partnerships. We have strong conviction in BioQ’s future prospects and look forward to supporting the company over the long term.”
“As we embark on our next stage of growth, we are pleased to partner with Madryn, a respected alternative investment firm with a deep understanding of the specialty pharmaceutical landscape and the value proposition of our technology offers to providers, patients, and payors,” said Josh Krisel, Chief Executive Officer of BioQ. “Their extensive experience working with management teams across the healthcare sector provides us with even greater resources and expertise to strategically grow our business, while their collaborative approach to structuring this investment provides us with the flexibility we need to scale our global operations rapidly and efficiently. We welcome Madryn as a new institutional member of our strong and growing investor base.”
BioQ employs a de-risked commercial strategy in which it is the innovator and manager at the hub of a network of supply, manufacturing, and commercial partners. The Company intends to draw proceeds from the investment to expand existing commercial operations, support anticipated near-term regulatory approvals, and advance earlier-stage development activities.
About BioQ Pharma
BioQ Pharma Incorporated is a privately held specialty pharmaceutical company focused on developing and commercializing ready-to-use infusible pharmaceuticals. The Company’s infusion platform is intended to address some of the most pressing unmet needs in drug infusion today: cost, medication error, sterility, efficiency, and patient quality of life. BioQ Pharma’s vision is to set a new standard of care in the presentation and administration of infusible pharmaceuticals via the Company’s proprietary unit-dose infusion systems that can be deployed quickly and conveniently at the point of care with one touch. The Company is ISO13485 certified. BioQ Pharma’s commercial collaborators and strategic partners include Novartis’ Sandoz unit, Cipla, Lee’s Pharm, Lunatus, Galen Limited, Pharma Mart, and West Pharmaceutical Services. Credo 180 served as exclusive placement agent to BioQ for the Madryn transaction. For additional information, please visit www.bioqpharma.com.
About Madryn Asset Management, LP
Madryn Asset Management, LP is a leading alternative asset management firm that invests in innovative healthcare companies specializing in unique and transformative products, technologies, and services. The firm draws on its extensive and diverse experience spanning the investment management and healthcare industries, and employs an independent research process based on original insights to target attractive economic opportunities that deliver strong risk-adjusted and absolute returns for its limited partners while creating long-term value in support of its portfolio companies. For additional information, please visit www.madrynlp.com.
BioQ Pharma Contact Information: Josh Kriesel President and CEO 415-336-6496 Ron Pauli Chief Financial Officer 415-889-7707 Media: Stephanie Carrington Integrated Corporate Relations, Inc. (ICR) stephanie.carrington@icrinc.com 646-277-1282
