NORWOOD, Mass., June 7, 2021 /PRNewswire/ -- entrinsic
bioscience (EBS) announced that it has secured $49 million in non-dilutive growth capital from
Jefferies Group LLC's subsidiary, Jefferies Funding LLC
(Jefferies). The event follows Series A and B raises, including
multiple rounds of investment from Johnson & Johnson INNOVATION
| JJDC. Aon Plc's Intellectual Property Solutions also played
an important role in helping to secure key Collateral Protection
Insurance to support the financing.
Groundbreaking Platform Poised to Disrupt
Multiple Consumer Health and Therapeutic Markets Secures
$49M in Financing
"Our platform represents a new modality for creating functional
ingredients and active pharmaceutical ingredients (APIs) that are
highly efficacious, safe, and cost effective," said EBS CEO
Stephen Gatto. EBS is pioneering an
innovative approach to protein and ion channel modulation that
originated from a $40 million
NASA|BARDA grant. "This financing greatly accelerates the numerous
commercialization efforts already underway with leading OTC, CPG,
and therapeutic companies."
Jefferies acted as sole lender to EBS. Aon Plc, using its
proprietary intellectual property (IP) valuation platform to value
EBS' IP portfolio, arranged for an IP Collateral Insurance policy
for Jefferies, collateralized by EBS' IP portfolio. Insurers
involved include Allianz, Aspen,
and Markel.
CFO Mario Wanderley summarized
the transaction: "We are very proud to have a firm of Jefferies'
caliber backing us. Our insurance policy-backed deal was made
possible by the significant value and broad applications of our
intellectual property portfolio, which was subject to great
scrutiny and due diligence by our financing partners who concluded
that the facility amount represents a fraction of the value of our
IP."
Immediate applications include programs for GI, Airway Diseases
and Skin. "Our platform has proven to translate from discovery
through demonstrated human efficacy, and fundamentally disrupts the
perceived limits of functional ingredients and API innovation to
protect, maintain, and restore health and wellness. It is a
blueprint for serial innovation," commented Gatto.
"Through our innovative valuation platform and Collateral
Protection Insurance, Aon is helping to provide innovative growth
companies, like EBS, with a path to non-dilutive growth capital
that preserves the ownership and value for their founders and early
investors," said Lewis Lee, CEO,
Aon's IP solutions. "It was a pleasure to assist the teams at EBS
and Jefferies in connection with their insurance-backed financing,
which unlocks the value in EBS' IP."
About entrinsic bioscience
entrinsic bioscience (EBS) combines its proprietary IP
platform and discovery engine to deliver next generation
functional ingredients and Active Pharmaceutical
Ingredients (APIs) designed to address multiple consumer health
conditions and serious disease states.
EBS was the first to discover that precise, patented
combinations of small molecule amino acids can modulate targeted
Epithelial Transmembrane Proteins (ETPs) via cell
signaling. Through proprietary biomapping and
electrophysiology techniques, EBS' platform harnesses the body's
natural signaling mechanisms to protect, maintain, and restore
health and wellness across a range of GI, respiratory, and skin
conditions. Recent partnerships include leading OTC
consumer health companies, the world's largest CPG company, and a
category leading global functional beverage company. EBS' first
commercialized product, enterade Advanced Oncology formula, is an
oncology supportive care product clinically proven to
significantly reduce the side effects of chemotherapy and radiation
treatment. It has been used successfully by over 40,000
patients.
About Jefferies
Jefferies Group LLC (www.jefferies.com) is the largest
independent, global, full-service investment banking firm
headquartered in the U.S. Focused on serving clients for nearly 60
years, Jefferies is a leader in providing insight, expertise and
execution to investors, companies and governments. The firm
provides a full range of investment banking, advisory, sales and
trading, research and wealth management services across all
products in the Americas, Europe
and Asia. Jefferies' Leucadia
Asset Management division is a growing alternative asset management
platform. Jefferies Group LLC is a wholly owned subsidiary of
Jefferies Financial Group Inc. (NYSE: JEF), a diversified financial
services company.
About Aon
Aon plc (NYSE: AON) is a leading global professional
services firm providing a broad range of risk, retirement and
health solutions. Our 50,000 colleagues in 120 countries empower
results for clients by using proprietary data and analytics to
deliver insights that reduce volatility and improve
performance.
Contact entrinsic bioscience:
Stephen Gatto
Chief Executive Officer sgatto@entrinsic.com
781-352-5459
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