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Athyrium Capital Management

Athyrium Capital Management, LP is a principal investment firm specializing in structured capital investments with a focus on loans, notes, convertible securities, preferred stock and other equity, royalties, royalty-backed debt or other structured instruments. It seeks to invest in the healthcare sector and healthcare verticals including biopharma, life sciences, diagnostics medical devices and products, healthcare information technology, and healthcare services. It prefers to invest globally with a focus on North America, Europe, Asia, and Australia. Athyrium Capital Management, LP was founded in 2008 and is based in New York, New York.
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Nisha Desai

Associate

ND

Nick Diamantoni

Associate

Jeffrey Ferrell

Managing Partner

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Sam Helfaer

Principal

Laurent Hermouet

Partner

AH

Andrew Hyman

COO and General Counsel

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Uttam Jain

Partner

MF

Michelle Fang Jordan

VP

MK

Miller Kampa

Associate

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Mark Kavulich

Partner

KM

Kristoffer Mack

Associate

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Michael O'Brien

Senior Associate

CP

Courtney Paul

VP, Investor Relations and Associate General Counsel

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Trevor Perry

Associate

Richard Pines

Partner

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April Pun

Senior Associate

HS

Hondo Sen

Partner

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Erina Shan

Associate

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Elin Strong

VP, Finance

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Justin Summers

Associate

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Michael Tischler

Senior Associate

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Patrick Vink

Senior Advisor

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Paul Wakefield

CFO

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Sean Wang

Associate

37 past transactions

Osmotica Pharmaceutical is a global specialty pharmaceutical company with a proven history of developing commercially successful pharmaceutical products. The Company uses its proprietary osmotic technology platform and with strategic partners develops and commercializes high quality pharmaceutical products.

Recro Pharma Inc.

Post in 2019
Recro Pharma is a clinical-stage specialty pharmaceutical company developing non-opioid therapeutics for the treatment of pain, initially in the post-operative setting. The company's lead product, an intranasal formulation of Dexmedetomidine, or Dex, has completed a Phase Ib placebo-controlled trial demonstrating pain relief. It was founded in 2007 and headquartered in Malvern, Pennsylvania.

Recro Pharma Inc.

Post in 2017
Recro Pharma is a clinical-stage specialty pharmaceutical company developing non-opioid therapeutics for the treatment of pain, initially in the post-operative setting. The company's lead product, an intranasal formulation of Dexmedetomidine, or Dex, has completed a Phase Ib placebo-controlled trial demonstrating pain relief. It was founded in 2007 and headquartered in Malvern, Pennsylvania.

Sound Physicians

Private Equity Round in 2018
Sound Physicians are dedicated to supporting our hospitalist and post-acute physicians in providing the very best quality care by partnering seamlessly with our partners. Physician founded, led, and managed, Sound Physicians has more than 1,000 hospitalist and post-acute physicians providing inpatient care to more than 70 hospitals and a growing number of post-acute care centers around the U.S.

uMotif

Series B in 2022
UMotif is a scalable and engaging patient-centred data capture platform for modern research. The platform provides patient-facing technology to capture data for clinical research initiatives and also captures compliant, validated patient-generated e-consent, eCOA, ePRO, PROM, and PREM data for researchers and clinicians, allowing pharmaceutical companies to capture rich health data across a range of conditions.

Pharmaceutics International

Venture Round in 2016
Pii is a science-driven contract development and manufacturing company providing dosage form development and cGMP manufacturing services to the global pharmaceutical industry. Pii’s vision is to be the benchmark in pharmaceutical product development outsourcing. They strive to do this with their mix of broad scientific capabilities, seasoned talent, attentive customer service and an exceptional quality record. By providing extensive technical capabilities and a high level of customer service, Pii continues to grow with new and repeat business. This has resulted in a balanced client base of major multinational and virtual pharmaceutical companies located across the globe.

Veloxis

Post in 2018
Veloxis Pharmaceuticals, Inc develops MeltDose technology that offers absorption and bioavailability of select orally administered drugs. It offers ENVARSUS XR, tacrolimus extended-release tablets. The company was founded in 2007 and is based in Cary, North Carolina. The company operates as a subsidiary of Veloxis Pharmaceuticals A/S.

Zealand Pharma

Post in 2014
Zealand Pharma A/S, a biotechnology company, engages in the discovery and development of peptide-based medicines in Denmark. It has a portfolio of medicines in development stage focusing on gastrointestinal and metabolic diseases. The company markets lixisenatide under the brand names of Adlyxin, Lyxumia, Soliqua 100/33, and Suliqua. Its product pipeline includes glepaglutide, a long acting GLP-2 analog, which is in Phase 3 clinical trials for the treatment of short bowel syndrome; and dasiglucagon, a stable glucagon analog for the treatment of severe hypoglycemia in diabetes and congenital hyperinsulinism, as well as for use in dual-hormone artificial pancreas for automated diabetes management. Zealand Pharma A/S has collaboration agreements with Sanofi-Aventis Deutschland GmbH; Boehringer Ingelheim International GmbH; and Beta Bionics, Inc. to initiate home-use trial of the iLet bionic pancreas with dasiglucagon for autonomous bihormonal treatment of type 1 diabetes, as well as research agreement with Orbit Discovery Ltd. and Torrey Pines Institute for Molecular Studies. The company was founded in 1997 and is headquartered in Copenhagen, Denmark.

Apollo Endosurgery, Inc.

Debt Financing in 2015
Apollo Endosurgery was founded upon the initial work of the Apollo Group, an international think tank of world-renowned gastroenterologists and surgeons from five leading universities (Mayo Clinic, Johns Hopkins, Medical University of South Carolina, University of Texas Medical Branch-Galveston and Chinese University-Hong Kong.) Disappointed with the pace of innovation in therapeutic flexible endoscopy, the Group assembled in 1998 (Timeline) with the goal to advance the new discipline; their specific focus was the use of long, flexible instruments deployed through a natural orifice in order to diagnose and potentially treat gastrointestinal disorders.
Puma Biotechnology, Inc., is a development stage biopharmaceutical company that acquires and develops innovative products for the treatment of various forms of cancer. The Company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seeks to further develop those drug candidates for commercial use. The Company is initially focused on the development of PB-272 (oral neratinib), a potent irreversible tyrosine kinase inhibitor, for the treatment of patients with HER2 positive metastatic breast cancer.

Verenium

Series A in 2012
Verenium possesses integrated, end-to-end capabilities in pre-treatment, novel enzyme development, fermentation, engineering, and project development and is moving rapidly to commercialize its proprietary technology for the production of cellulosic ethanol from a wide array of feedstocks, including sugarcane bagasse, dedicated energy crops, agricultural waste, and wood products. In addition to the vast potential for advanced biofuels, a multitude of large-scale industrial opportunities exist for the Company for products derived from the production of low-cost, biomass-derived sugars.

ArisGlobal LLC

Private Equity Round in 2019
ArisGlobal is the visionary technology company that is transforming the way today’s most successful Life Sciences companies develop breakthroughs and bring new products to market. Our end-to-end life sciences platform, LifeSphere®, integrates our proprietary Nava® cognitive computing engine to automate all core drug development functions. Designed with a long-term perspective that spans more than 30 years, LifeSphere® boosts efficiency, ensures compliance, delivers actionable insights, and lowers total cost of ownership through multi-tenant architecture. Headquartered in the United States, ArisGlobal has regional offices in Europe, India, Japan and China.
Revance Therapeutics, Inc., a biopharmaceutical company, engages in developing and commercializing products and treatments in dermatology and aesthetic medicines. Its products include RT001, a physician-applied topical botulinum toxin type A (BoNT-A) for cosmetic, hyperhidrosis, and dermatologic indications. The company was formerly known as Essentia Biosystems, Inc. Revance Therapeutics, Inc. was founded in 2002 and is based in Mountain View, California.

Dermira

Post in 2018
Dermira is a specialty biopharmaceutical company focused on bringing innovative and differentiated products to dermatologists and their patients. Dermira’s portfolio of five product candidates targets significant market opportunities. It was founded in 2010 and headquartered in Menlo Park, California.
Puma Biotechnology, Inc., is a development stage biopharmaceutical company that acquires and develops innovative products for the treatment of various forms of cancer. The Company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seeks to further develop those drug candidates for commercial use. The Company is initially focused on the development of PB-272 (oral neratinib), a potent irreversible tyrosine kinase inhibitor, for the treatment of patients with HER2 positive metastatic breast cancer.
Kala Pharmaceuticals is developing novel treatments for diseases that affect mucosal tissues. The company's proprietary mucus penetrating particle technology dramatically improves drug distribution and pharmacokinetics by uniformly coating the mucosal surface with biocompatible, drug-loaded particles. Kala's formulations achieve high, sustained local drug concentrations with reduced systemic exposure and are delivered in a patient friendly format. The company's research efforts have demonstrated successful in vivo proof-of-concept in mucosal organs such as the respiratory tract, eye, and cervicovaginal tract, enabling diverse product opportunities that target significant clinical unmet need. Kala is focused on advancing an internal pipeline of products through human proof-of-concept, while establishing R&D collaborations with select partners to improve products in their pipelines.
Portola Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis, and other hematologic disorders and inflammation in Europe and the United States. Its lead product Andexxa, an antidote for the treatment of rivaroxaban and apixaban under the Ondexxya Brand. The company offers Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients for an acute medical illness. It also develops cerdulatinib, an investigational oral, dual spleen tyrosine kinase, and janus kinases inhibitor for the treatment of hematologic cancers; and Syk inhibitors. Portola Pharmaceuticals, Inc. has collaboration agreements with Bristol-Myers Squibb; Pfizer Inc.; Daiichi Sankyo, Inc.; Bayer Pharma, AG; Takeda, Ora, Inc.; Astellas Pharma Inc.; and Janssen Pharmaceuticals, Inc. The company was founded in 2003 and is headquartered in South San Francisco, California. As of July 1, 2020, Portola Pharmaceuticals, Inc. operates as a subsidiary of Alexion Pharmaceuticals, Inc.
Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland, and listed on the SIX Swiss Exchange (SIX: BSLN). Through the integrated research, development and commercial operations of its Swiss subsidiary Basilea Pharmaceutica International Ltd., the company focuses on providing innovative pharmaceutical products in the therapeutic areas of bacterial infections, fungal infections and oncology, targeting the medical challenge of rising resistance and nonresponse to current treatment options.

SynCardia Systems, Inc.

Funding Round in 2013
SynCardia Systems, Inc., a medical technology company, focuses on developing, manufacturing, and commercializing the SynCardia temporary Total Artificial Heart (TAH-t) in the United States, European Union, and Canada. Its SynCardia TAH-t is an implantable system designed to assume the full function of a failed human heart in patients suffering from advanced heart failure. The company was founded in 2001 and is headquartered in Tucson, Arizona.

Retrophin

Post in 2014
Retrophin is a pharmaceutical company focused on the discovery and development of drugs for the treatment of debilitating and often life-threatening diseases for which there are currently no viable patient options. The Company is currently focused on several catastrophic diseases affecting children, including Focal Segmental Glomerulosclerosis (FSGS), Pantothenate Kinase-Associated Neurodegeneration (PKAN), Duchenne Muscular Dystrophy and others. Retrophin’s lead compound, RE-021, is scheduled to begin enrollment in a potentially pivotal Phase 2 clinical trial for FSGS during 2013.

OptiNose, Inc.

Post in 2018
OptiNose develops nasal drug delivery technologies and novel combination drug/device therapies. The drug delivery technologies are based upon a unique and patent-protected principal "Bi-Directional Delivery" which allows drugs to be more efficiently delivered to the nasal cavity. By applying its drug delivery technology, most of the dose is deposited beyond the nasal valve in the upper posterior two-thirds of the nasal cavity, unlike traditional devices. The OptiNose delivery devices have high dose reproducibility and avoid drug deposition to the lungs. In summary, technology fulfills the ideal requirements for nasal drug delivery. Clinical trials have shown that devices can provide a faster onset of action, greater effect with a lower dose, and reduced side effects. The company has offices in Norway and the UK.
Halozyme Therapeutics is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the insulin, cancer, dermatology and drug delivery markets. The company's product portfolio is based primarily on intellectual property covering the family of human enzymes known as hyaluronidases and additional enzymes that affect the extracellular matrix. Halozyme's Enhanze(TM) technology is a novel drug delivery platform designed to increase the absorption and dispersion of biologics. The company has key partnerships with Roche, Baxter, ViroPharma and Intrexon to apply Enhanze technology to therapeutic biologics including Herceptin®, MabThera®, immunoglobulin, Cinryze® and alpha 1-antitrypsin. Halozyme's Ultrafast Insulin program combines its rHuPH20 enzyme with mealtime insulins, which may produce more rapid absorption, faster action, and improved glycemic control. The product candidates in Halozyme's pipeline target multiple areas of significant unmet medical need.

InnoPharma

Debt Financing in 2013
InnoPharma, LLC. Founded in 2005, is a privately held pharmaceutical research and development (R&D) company, based in Piscataway, New Jersey.

Retrophin

Post in 2014
Retrophin is a pharmaceutical company focused on the discovery and development of drugs for the treatment of debilitating and often life-threatening diseases for which there are currently no viable patient options. The Company is currently focused on several catastrophic diseases affecting children, including Focal Segmental Glomerulosclerosis (FSGS), Pantothenate Kinase-Associated Neurodegeneration (PKAN), Duchenne Muscular Dystrophy and others. Retrophin’s lead compound, RE-021, is scheduled to begin enrollment in a potentially pivotal Phase 2 clinical trial for FSGS during 2013.

Clover Health

Series B in 2015
Clover Health is a provider of Medicare Advantage health plans to older Americans. The company operates a Preferred Provider Organization (PPO) platform to improve the quality of life of its members and physicians. Its platform utilizes patient-centered analytics and a dedicated care management team to identify potential risks and directly provide preventive care, thereby enabling patients and their health care providers to reduce avoidable spending as well as identify and manage chronic diseases. Clover uses sophisticated analytics and custom software to direct its own clinical staff to proactively fill in gaps in the care of its members.

VillageMD

Private Equity Round in 2018
VillageMD provides tools, technology, operations, and staffing support needed for physicians and organizations. The company offers management, clinical innovation, analytics, value-based contract negotiation and management, data platform, practice management, and physician network growth. It serves patients in Chicago, Georgia, Houston, Indianapolis, Kentucky, Michigan, New Hampshire, Northern Indiana, Austin, and other markets. The company was founded in 2013 and is headquartered in Chicago, Illinois.

Clover Health

Series A in 2015
Clover Health is a provider of Medicare Advantage health plans to older Americans. The company operates a Preferred Provider Organization (PPO) platform to improve the quality of life of its members and physicians. Its platform utilizes patient-centered analytics and a dedicated care management team to identify potential risks and directly provide preventive care, thereby enabling patients and their health care providers to reduce avoidable spending as well as identify and manage chronic diseases. Clover uses sophisticated analytics and custom software to direct its own clinical staff to proactively fill in gaps in the care of its members.

Progenity

Series B in 2017
Progenity, Inc. is a biotechnology company with an established track record of success in developing and commercializing molecular testing products, as well as innovating in the field of precision medicine. Progenity provides in vitro molecular tests designed to improve lives by providing actionable information that helps guide patients and physicians in making medical decisions during key life stages. The company applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity’s vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

SynCardia Systems, Inc.

Debt Financing in 2013
SynCardia Systems, Inc., a medical technology company, focuses on developing, manufacturing, and commercializing the SynCardia temporary Total Artificial Heart (TAH-t) in the United States, European Union, and Canada. Its SynCardia TAH-t is an implantable system designed to assume the full function of a failed human heart in patients suffering from advanced heart failure. The company was founded in 2001 and is headquartered in Tucson, Arizona.

TRIA Beauty, Inc.

Debt Financing in 2013
TRIA Beauty, Inc. develops and markets light-based therapeutic beauty systems for the consumer market. The company provides a diode laser hair removal system for home use. It offers its products through a network of retailers in California, Florida, Illinois, Louisiana, Minnesota, Nevada, New Jersey, New York, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington. TRIA Beauty, Inc. was formerly known as SpectraGenics, Inc. and changed its name to TRIA Beauty, Inc. in July 2008. The company was founded in 2003 and is based in Pleasanton, California.

TRIA Beauty, Inc.

Private Equity Round in 2013
TRIA Beauty, Inc. develops and markets light-based therapeutic beauty systems for the consumer market. The company provides a diode laser hair removal system for home use. It offers its products through a network of retailers in California, Florida, Illinois, Louisiana, Minnesota, Nevada, New Jersey, New York, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington. TRIA Beauty, Inc. was formerly known as SpectraGenics, Inc. and changed its name to TRIA Beauty, Inc. in July 2008. The company was founded in 2003 and is based in Pleasanton, California.

Secura Bio, Inc.

Debt Financing in 2019
Secura Bio is an integrated biopharmaceutical company committed to giving patients access to innovative therapies. Its a diagnosis of a serious illness can change life in an instant and finding treatment options is key. At Secura Bio, they see things differently. They develop and commercialize innovative medicines and life-changing products for the patients that need them most. Secura Bio was founded in 2019 and is headquartered in Las Vegas, NV, and has operations in the U.S. and offices in San Diego.
MEDICREA is a fully-dedicated spinal implant company focused on introducing reliable and innovative technologies to the global marketplace. With over 18 years of experience, MEDICREA provides a full range of patented products that are conceived, developed and manufactured to advance patient outcomes and support the work of medical professionals.

Agendia, Inc.

Private Equity Round in 2018
Agendia's molecular diagnostic technology provides cancer patients and their physicians with a glimpse into their genome, answers to the most pressing questions and enables personalized treatment plans. Agendia’s breast cancer tests were developed using an unbiased gene selection by analyzing the complete human genome. Agendia’s tests can help physicians assess a patient’s individual risk for metastasis, which patients may benefit from chemo, hormonal or combination therapy, and which patients may not require these treatments and can instead be treated with other, less arduous and less costly methods.

BioFire Diagnostics

Venture Round in 2012
BioFire Diagnostics is a privately held clinical diagnostics company based in Salt Lake City, Utah. Founded in 1990, the Company currently holds over 70 patents related to polymerase chain reaction (PCR), including rapid PCR cycling. The Company has used its extensive patent portfolio to successfully market nearly 200 products to the clinical, research and military markets.
BioCryst has over 80 employees spread across their two locations in Birmingham, Alabama and Durham, North Carolina. With expertise in drug discovery, clinical development and regulatory affairs, they continue to advance their compounds, peramivir, forodesine and BCX4208, and to generate new compounds from their own discovery engine—structure-based drug design.

BioFire Diagnostics

Venture Round in 2013
BioFire Diagnostics is a privately held clinical diagnostics company based in Salt Lake City, Utah. Founded in 1990, the Company currently holds over 70 patents related to polymerase chain reaction (PCR), including rapid PCR cycling. The Company has used its extensive patent portfolio to successfully market nearly 200 products to the clinical, research and military markets.