AshHill Pharmaceutical Investments, LLC, a private equity fund focused on investing in innovative pharmaceutical and medical device companies, has opened their doors and is already in the process of investing in several cutting edge healthcare organizations.
The AshHill executive team includes leaders in medicine and business, among them Dr. Peter Milner, a board certified physician and cardiologist; David Buffenbarger, a certified public accountant; Steven Smith, an attorney that specializes in business law; and Eric Ott, an experienced investment management professional.
The stated goal of AshHill is to help both established and seed-stage companies overcome industry challenges and surpass business goals by providing necessary equity capital. These efforts allow innovative medical and pharmaceutical companies to expand, hire new employees and reach their potential to improve patient care. The firm’s primary focus is on companies that are working on areas of unmet medical need.
“We recognize the future of healthcare is focused on reducing cost, yet improving overall care. We look to invest in companies that have worked hard to find solutions that align with both, from a pharmaceutical company developing antibiotics to combat super-bugs to a medical device company offering a non-surgical alternative to a chronic illness affecting millions of people,” said Milner, president and CEO of AshHill. “Unlike other traditional venture capital groups, our organization is an advocate for public health, and we are committed to helping viable, yet early-stage companies that are working to find imperative healthcare solutions.”
Milner has co-founded several successful pharmaceutical and biomedical startups throughout the years including Optivia Biotechnology, a private company now recognized as a leader in the emerging field of transporter biology, ARYx Therapeutics (NASDAQ: ARYX) and CV Therapeutics (NASDAQ: CVTX), which was later acquired by Gilead for $1.5 billion in 2009.
The firm has a global reach, working with companies that span the globe from California to London, and has offices in Fort Thomas, Ky., in metropolitan Cincinnati, and Silicon Valley.
“As an organization, our biggest asset is having a team that has the know-how and experience necessary to be successful,” Smith said. “Peter has more than 25 years of medical experience and numerous patents, as well as strong connections to the industry as a whole. His expertise combined with other medical specialists and the rest of our team’s financial and business acumen gives us an incredible advantage.”
While the firm is open to investing in companies across all spectrums of development and approval stages, they are committed to finding companies that are generating products that have a significant impact. Recent investments include:
• SinuSys, located in Palo Alto, Calif., the developer of a medical device that offers a minimally invasive, office-based alternative to surgery to treat sinusitis, a condition affecting more than 37 million Americans.
• Heart Metabolics, located in London, U.K., a pharmaceutical company that developed a medication for the treatment of hypertrophic cardiomyopathy (HCM), a genetic condition that leads to the thickening of the heart wall. It is best known as a cause of sudden cardiac death in young athletes, affects about 10,000 Americans and has few treatment options currently available.
• Armetheon, a pharmaceutical company working on antibiotics to combat an epidemic of drug-resistant bacteria, or superbugs, that are frequent causes of serious infections, especially in the hospital environment.
“Our objective is to invest in companies that are working to meet these kinds of unmet medical needs,” Buffenbarger said. “We are a unique investment firm because each of us brings a specific industry skill set to the organization. We have a perspective that allows us to identify products with a great potential for profit, as well as great potential to improve public health.”
“SinuSys is a perfect example of the types of investments we are looking for as their device will help more than 21 million people who suffer from chronic sinusitis,” Buffenbarger said. “The need is great, so the decision to invest was unanimous.”
With each of these companies, AshHill is working with the leadership team, lending expertise on critical strategic initiatives, such as the FDA approval process for bringing the HCM medication to the U.S. market.
“We have laid the groundwork in terms of securing funds and finding companies that have tremendous potential to provide an incredible return on investment between late 2012 and late 2016,” Smith said. “Our focus in 2012 is to continue to protect our investments and raise sufficient capital to maintain this level of momentum.”
For more information regarding AshHill Pharmaceutical Investments, please visit their website or contact their office directly (859) 309-6224.
About AshHill Pharmaceutical Investments, LLC
AshHill (ashhill.net) is a private limited liability company focused on creating maximum value for its members by investing in companies that primarily develop innovative products and services in various stages of research, development and approval to serve the biopharmaceutical industry.