Gurnet Point Capital Invests in Pronutria's Series C Financing
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Pronutria Biosciences Inc., a biotechnology company pioneering a new therapeutic modality to mediate amino acid biology, today announced that Christopher A. Viehbacher, Managing Partner, Gurnet Point Capital, will join Pronutria's Board of Directors. In addition, Gurnet Point Capital has made an investment in Pronutria, the fund's first announced investment, completing Pronutria's Series C financing. The terms of the investment were not disclosed.
"We are honored to have Chris join our board and are thrilled to welcome Gurnet Point into our investor syndicate," said Robert Connelly, President and Chief Executive Officer at Pronutria. "As one of our industry's most seasoned and visionary leaders, Chris' contributions will be a critical, guiding factor as we continue to build a transformative biotechnology company."
Mr. Viehbacher commented: "At Gurnet Point Capital, we are seeking to partner with companies who have the long-term vision and drive necessary to create truly transformational products. I've followed Pronutria for several years and am continually impressed by the potential of their platform and their progress as they establish an entirely new class of therapeutic and nutritional products. I look forward to participating in the company's continued growth as a member of Pronutria's Board of Directors."
"The addition of Chris to the Board and his active involvement with the company signal a watershed moment for Pronutria," said Noubar Afeyan, Chairman and Co-founder of Pronutria Biosciences, and Senior Managing Partner and CEO of Flagship Ventures. "We have a leadership team and a Board with an unparalleled track record for envisioning and delivering breakthroughs that advance science and bring new solutions to patients. Chris' participation will be invaluable as we continue down the path to commercialization."
About Christopher A. Viehbacher, Managing Partner, Gurnet Point Capital
Christopher A. Viehbacher is the former CEO of Sanofi. During his six year tenure, Sanofi completed over $30 billion of acquisitions, including Genzyme. Prior to Sanofi, Viehbacher spent 20 years with GlaxoSmithKline, ultimately as President of GSK's North American pharmaceutical division. He was a Member of the Board of Directors of GSK plc and Co-President of GSK's Portfolio Management Board. Viehbacher began his career with Price Waterhouse Coopers and qualified as a Chartered Accountant.
Viehbacher has been Chairman of the Board of the Pharmaceutical Research and Manufacturers of America (PhRMA), as well as President of the European Federation of Pharmaceutical Industries and Associations. He has received France's highest civilian honor, the Legion d'Honneur.
About Gurnet Point Capital
Led by Christopher A Viehbacher, Gurnet Point Capital is an investment fund that enables established healthcare and life science businesses to accelerate growth and achieve their long-term vision. Its goal is to build successful companies that will be compelling forces in the future of healthcare. It was founded by Waypoint Capital, the business enterprise for the managers and advisers of the funds and investments associated with its Chairman, Ernesto Bertarelli, the former CEO of Serono, and his family.
About Pronutria Biosciences
Pronutria Biosciences is pioneering new nutritional and therapeutic modalities: amino acid biologics. Amino acids (AA) are known as the "building blocks of life," and are fundamental regulators of health. The entire body, ranging from microscopic cells to organs, is dependent on tightly controlled AA homeostasis. More than 2000 disorders are linked to differences in AA metabolism and transport. The dysregulation of AAs cause and/or drive the onset of a number of conditions. Using insights from a clinically validated body of evidence, Pronutria Biosciences is developing first-in-class therapeutic and nutritional solutions to these conditions with a focus on amino acid biology. This novel approach allows us to precisely target biology that was previously inaccessible, providing a unique opportunity to address a variety of serious nutritional and medical conditions, such as muscle, metabolic, neurological, and hepatic disorders. Founded by Flagship VentureLabs, privately-held Pronutria Biosciences is based in Cambridge MA. For more information, please visit www.pronutriabio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151015005515/en/ Source: Pronutria Biosciences Inc. To read more People News articles, click here.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151015005515/en/
Source: Pronutria Biosciences Inc.
To read more People News articles, click here.