A Bit of Info re our 44% subsidiary14 Jun 2024 18:04
And its biggest customer
Thanks to Bk2011 for highlighting
June 12 (Reuters) - The owners of Seed Health, one of the few profitable U.S. biotechnology startups, are exploring a sale of the probiotics maker that could value it at more than $1 billion, according to people familiar with the matter.
Seed, which is owned by its founders and co-chief executives Ara Katz and Raja Dhir, as well as venture capital investors, is soliciting acquisition offers with advice from investment bank Centerview, the sources said.
The company expects to generate around $200 million in revenue in 2024, up from about $140 million last year, the sources added, requesting anonymity because the matter is confidential.
Spokespeople for Seed Health and Centerview declined to comment.
Seed is known for its flagship two-in-one DS-01 capsules that support gut, dermatological, cardiovascular and nutritional health. Last month the company launched a vaginal synbiotic, VS-01, to promote the health of the vaginal microbiome.
The microbiome is the collection of microorganisms, like bacteria and viruses, that live in a body or environment.
The Venice, California-based company sells directly to consumers and has both adult and children's supplements. It uses clinical trials to validate its formulas.
Katz and Dhir started the company in 2015 and are the largest shareholders. Investment firm The Craftory led a private financing round in Seed in 2021.
Large consumer health and vitamins companies have snapped up nutritional supplement makers in recent years. Last year, Pharmavite bought women's health company Bonafide, which also has vaginal microbiome-focused products, for $425 million. Also last year, Sanofi acquired vitamins company Qunol for an undisclosed amount.
Formed in 2015 - basically one product - raised a large sum in 2021 (can't remember but think c $60m) and can't remember initial funding but did have a number of high profile investors and whilst a private US company
that's the way to do it!
We have a number of products, rebranded on a number of occasions now, and as FriedmanSowell notes
continue to hide in the shadows after company formed in 2012 and listing in 2014 and of course a disastrous opti wealth destroying, dividend in specie, listing of PBX on aquis
mol
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