PE Tech Report


Like this article?

Sign up to our free newsletter

Southridge provides equity capital to PuraMed BioScience

An affiliated fund of Southridge, an investment firm providing capital to publicly listed companies, has closed a private equity agreement for up to USD7.5m in equity financing with PuraMed BioScience.

"Southridge is very pleased to provide equity capital financing for this innovative market leader in the over-the-counter consumer market for alternative health remedies," says Stephen Hicks, founding principal of Southridge.

PuraMed BioScience was established to capture two opportunities. The first is to build a substantial business, beginning with three products developed by its founders: LipiGesic M for acute relief of migraine headaches, LipiGesic H for acute relief of tension headaches and PuraMed PM for insomnia.

Each of these is safe, effective and addresses a very large over-the-counter consumer market, collectively worth over USD2bn in the U.S.

The second opportunity is to establish a leadership position in the highly fragmented OTC natural and alternative health remedy market by introducing an alternative remedy line for common ailments.

Like this article? Sign up to our free newsletter