St. Renatus, LLC secures an additional $5MM in funding from Blue Ocean STR, LLC
Capital commitment to be used to help transition St. Renatus from a research company that developed the first Nasal Mist Technology for Dental Anesthesia toward a commercialization company
FORT COLLINS, Colo., March 18, 2014-- St. Renatus, LLC announced today that additional funding has been committed by Blue Ocean STR, LLC to assist St. Renatus with completing the New Drug Application (NDA) submission to the U.S. Food and Drug Administration (FDA). The $5 million investment will also support St. Renatus' transition to a commercialization company to market a new nasal mist anesthetic technology that it has been developing and testing for dental anesthesia for the past four years.
St. Renatus has completed all planned Phase 3 pivotal clinical trials for this investigative drug. It is preparing its data analysis for submission in 2014 to the FDA for use on adult and pediatric dental patients without the use of a needle injection.
"Blue Ocean was an early investor in St. Renatus, and we continue to be excited about the company's prospects," said Curt Richardson, co-founder and co-owner of Blue Ocean Holdings in Fort Collins, Colo. "We recognized the blockbuster potential of the St. Renatus investigative drug, which fits our investment strategy of supporting companies that can change lives and transform their industries."
Blue Ocean Holdings, LLC is a diversified investment management company with two primary portfolios focused on innovative business ventures and commercial real estate.
Blue Ocean Holdings' affiliated companies benefit from Richardson's proven model of successfully building companies. Along with investing, the company takes an active role in mentoring companies – Kurt Hoeven, the CEO of Blue Ocean Holdings, has joined the board of St. Renatus. His expertise in the management of numerous fast-growth companies in a variety of industries is an asset to St. Renatus.
"Blue Ocean's commitment to St. Renatus is an asset to a fast growing company looking at national distribution. We want to ramp up production and distribution quickly -- if our drug application is approved by the FDA. Often there is lag time in the expenses incurred during the ramp up versus sales revenue, therefore we are actively seeking additional private investors like Blue Ocean and new investors to support us financially during this exciting period," said Steve Merrick, Chief Executive Officer for St. Renatus, LLC.
ABOUT ST. RENATUS
St. Renatus, LLC was founded to develop a revolutionary innovation -- the world's first dental anesthetic administered through the nasal cavity designed for use in procedures involving most of the upper teeth with a goal of gaining FDA approval to commercialize and distribute the new product. St. Renatus' name comes from the patron saint of anesthesia and has Latin roots meaning "new beginning."
St. Renatus believes the benefits of its product will provide a better experience for doctors and qualifying patients. These benefits could include an accurate and sophisticated method to anesthetize the upper teeth topically, without the use of a dental needle injection.
For more information, please visit www.st-renatus.com or call 970.282.0156.
This document contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. The statements include expectations regarding the clinical studies and the potential for the drug product. They are based on St. Renatus' current intentions, beliefs and expectations regarding future events. St. Renatus cannot guarantee that the forward-looking statements will be accurate, though they do represent St. Renatus' judgment as of the date of this release. St. Renatus disclaims, however, any intent or obligation to update these forward-looking statements.
St. Renatus, LLC., 1000 Centre Avenue, Fort Collins, CO 80526
Toll Free: 1.888.686.2314
Jill Shoemaker, Vice President of Investor Relations
P: 970.282.0156 x16
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