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Rochester-based AeroSafe Global closes on $43M funding round
Rochester-based AeroSafe Global closes on $43M funding round
Rochester-based AeroSafe Global has closed on a $43 million funding round that will be used to support continued customer growth with product development and increased operational capacities, company leaders said.
The funding round was led by NewSpring, via NewSpring Healthcare, the firm’s dedicated, thesis-driven strategy focused on investing in companies that positively impact health outcomes across the care continuum.
Existing blue-chip health care investors, including Peloton Equity, Merck Global Health Innovation Fund, Hamilton Lane, Flexstone Partners, Wave Equity Partners and Escalate Capital, also participated in the round.
“We are thrilled to welcome NewSpring to the AeroSafe team,” said Jay McHarg, CEO of AeroSafe. “With their depth of knowledge, extensive experience and outstanding team, NewSpring is the ideal partner for AeroSafe at this time of explosive growth in existing and expanding markets.”
As part of the transaction, Pete Buzy will join the AeroSafe Board of Directors. Buzy is the former chairman of Gene Therapy at Catalent, Inc. and currently serves as an advisory partner for NewSpring’s dedicated health care funds.
“As demand for biologics and the timely, safe delivery of temperature-sensitive therapeutics continues to skyrocket, AeroSafe is redefining cold chain solutions by increasing visibility and responsiveness to avoid costly failures that result in lost drug inventory,” Kapila Ratnam, NewSpring general partner, said in a release. “Jay and his team have done a tremendous job developing a technology-enabled service to one of the pharmaceutical industry’s largest problems, and we’re thrilled to work alongside their entire team as we expand access to these critical services and take the business to new levels of growth.”
Aerospace is focused on safe, sustainable deliveries of therapeutics and works with more than 45 biopharmaceutical companies to deliver shipments to patients, providers, pharmacies and hospital systems in 85 countries.
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