Vero Biotech announced an investment of $30 million from Petrichor Healthcare Capital Management that will be used for commercialization of Vero’s Genosyl DS tankless inhaled nitric oxide system. The company recently announced that it had received FDA approval for the third generation Genosyl DS for delivery of iNO to increase oxygenation in newborn infants with pulmonary hypertension.
Petrichor Partner Patrick Lally said, “Vero Biotech has rapidly established itself as a leader in neonatal intensive care through the commercial success of Genosyl DS, with its tankless system representing the first innovation in the delivery of inhaled nitric oxide approved by the FDA in 20 years. We have been impressed with Vero Biotech’s commercial growth in addition to its commitment to continued innovation, evidenced by the recent FDA approval for its third-generation product design. The Vero Biotech team is dedicated to addressing the unmet needs of respiratory disease specialists who treat persistent pulmonary hypertension of the newborn, a serious condition in term or near-term newborns that affects 100,000 neonates each year. We look forward to supporting the Vero Biotech team in their pursuit of better neonatal patient care.”
Vero Biotech CEO and President Brent V. Furse commented, “This funding represents our commitment to the continuous development of the Genosyl Delivery System, as well as to neonatal intensive care and the acute care hospital community in providing solutions to the challenges they face. We are grateful for the partnership with Petrichor, the confidence they have placed in Vero Biotech, and their recognition of our commercial success to date and strategies for further expansion.”
Read the Vero Biotech press release.
