VERO Biotech Inc., a commercial-stage healthcare company focused on neonatal critical care and the acute care hospital community, announced today the successful completion of a $30 million financing with Petrichor, a prominent healthcare-focused growth capital provider.
The funds will be used to further develop and commercialize VERO Biotech’s GENOSYL Delivery System (DS), a tankless inhaled nitric oxide (iNO) delivery system. The FDA has authorized the third version of the GENOSYL DS, which represents a breakthrough in iNO technology that benefits both clinicians and patients. Petrichor Partner Patrick Lally has joined the VERO Biotech Board of Directors. The financial terms were not disclosed.
GENOSYL (nitric oxide) gas, for inhalation, is indicated to improve oxygenation and reduce the need for extracorporeal membrane oxygenation in term and near-term (>34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with ventilatory support and other appropriate agents.
VERO Biotech Inc. is a privately held company headquartered in Atlanta, Georgia focused on saving lives, alleviating suffering, and improving health economics in the neonatal intensive care and the acute care hospital communities.
Petrichor partners with world-class healthcare managers and businesses to provide customized investment structures and support. The Petrichor team has completed over 125 investments representing more than $6 billion in invested capital and has held over 50 board seats.
Petrichor maintains a deep in-house understanding of healthcare products and services, including scientific, technical, and commercial expertise. This healthcare expertise, together with a breadth of experience investing across sectors, geographies, and capital structures, provides a unique combination to help build successful companies.