Salveo Capital, an alternative investment firm specialising in the legalised cannabis space, has acquired a minority equity interest in PathogenDx, a provider of DNA-based pathogen testing kits for the cannabis, botanical, food and agriculture industries.
Financial terms of the transaction have not been disclosed.
Founded in 2014, PathogenDx’s mission is to deliver disruptive testing technology and solutions to the cannabis, botanical, food and agricultural testing markets that provide breakthrough simplicity, and cost-effectiveness, at an adaptable scale for both large and small testing facilities. The company’s technology offers growers, processors, producers, consumers and ancillary service providers within the botanical, food and agricultural markets real-time data and information pertaining to the quality of their product. PathogenDx’s testing can be scaled for testing facilities of all sizes from an individual plant to large agricultural fields. PathogenDx’s technology provides customers with access to accurate real-time answers to determine if their plants or crops have been contaminated with fungi, moulds, viruses or mildew. The company is headquartered in Tucson, Arizona.
“With its cutting edge solutions and high quality products, PathogenDx represents an innovative and disruptive company that is changing the testing process for cannabis-related products as we know it,” says Jeffrey Howard, a Managing Partner at Salveo Capital. “We believe that as customers and growers continue to seek the latest and greatest methods to assure the utmost quality and purity in their product, the demand for PathogenDx’s services will continue to rise. We are thrilled to complete this investment and are very much looking forward to partnering with the entire PathogenDx team to drive further value into the business.”
“As we enter into the next phase as a company, it is critical that we have the strategic support in place to provide our customers with the premier products and services they have come to expect in the most simplistic and cost-effective manner,” says Milan Patel, Chief Executive Officer and Co-Founder of PathogenDx. “We are confident that Salveo’s investment and operational experience within the cannabis space will promote significant growth, help us expand into new markets, and continue to ensure the safest possible products from a human health standpoint. We are honoured to welcome Salveo as an investor and are eager to begin collaborating with their team.”
