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
New York (PRWEB) February 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," 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.
About Southridge LLC
Southridge LLC is a diversified financial holding company offering a wide range of products and services, including Fund Management, Investment Banking, Merchant Banking, Wealth Management and Business Solutions. For more information please visit http://www.southridgellc.com.