AeroSafe Global, a biopharmaceutical cold chain solutions provider, has successfully concluded a $43 million funding round.
Spearheaded by NewSpring through its healthcare fund, NewSpring Health Capital, this funding marks a pivotal moment in AeroSafe’s journey toward revolutionizing the safety and sustainability of pharmaceutical deliveries.
Distinguished healthcare investors, including Peloton Equity and Merck Global Health Innovation Fund, participated in this momentous round. The secured growth capital is strategically allocated to propel customer growth, foster innovative product development, and bolster operational capabilities.
With an unyielding commitment to ensuring secure and sustainable therapeutic deliveries, AeroSafe has firmly established itself as an industry leader.
Over 45 biopharmaceutical companies depend on AeroSafe’s expertise to facilitate millions of shipments to patients, healthcare providers, pharmacies, and hospital systems spanning 85 countries.
This funding reaffirms AeroSafe’s pivotal role in transforming the pharmaceutical supply chain into a more dependable and environmentally conscious system.
Strengthened Partnership with NewSpring
AeroSafe’s CEO, Jay McHarg, expresses enthusiasm for the partnership with NewSpring, citing their extensive experience and exceptional team as ideal complements for AeroSafe’s rapid growth trajectory across existing and emerging markets.
The funding round’s significance is further underscored by the appointment of Pete Buzy and Kapila Ratnam, Ph.D., to the AeroSafe Board of Directors.
Buzy, formerly the Chairman of Gene Therapy at Catalent, Inc., brings invaluable insights as an Advisory Partner for NewSpring’s healthcare funds.
Ratnam, a Partner of NewSpring with two decades of healthcare industry experience, also joins the board. Their expertise is set to guide AeroSafe’s strategic decisions adeptly.
Elevating Cold Chain Solutions
Dr. Ratnam emphasizes AeroSafe’s crucial role in meeting the burgeoning demand for biologics and temperature-sensitive therapeutics.
By offering augmented visibility and responsiveness, AeroSafe addresses the industry’s pressing challenges, averting costly failures that lead to inventory losses. The innovative technology-enabled services offered by AeroSafe effectively target a significant pain point in the pharmaceutical sector.
AeroSafe Global’s comprehensive ‘Cold Chain as a Service’ (CCaaS) encompasses advanced reusable thermal packaging, outsourced supply chain services, and a temperature monitoring control tower.
This comprehensive approach, embedded in a pay-per-turn hassle-free program, guarantees reliability and sustainability. Noteworthy is AeroSafe’s reuse program that substantially reduces carbon usage and landfill waste by 65 percent and 90 percent, respectively, compared to conventional Styrofoam containers.
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