Feb 12 2010
Southridge
LLC ("Southridge"), an investment firm providing capital to publicly
listed companies, is pleased to announce that its affiliated fund has
closed a private equity agreement for up to $7.5 million 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”
“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,” said Stephen Hicks, founding principal of
Southridge LLC.
PuraMed BioScience was established to capture two unique opportunities.
The first is to build a substantial business, rapidly, 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 (OTC) consumer
market, collectively worth well over $2 billion in the U.S. Each product
will be unique in its class. 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.
Southridge seeks investments in emerging growth areas, domestically and
in international markets. Southridge has successfully participated in
providing over $1.7 billion in capital to companies in the United
States, the United Kingdom, China and Australia and well as others.