Establishment Labs picks up $15 mln

Establishment Labs, a maker of breast implants, has secured up to $15 million in debt funding. The investors were Perceptive Advisors, JW Asset Management LLC and Relativity Healthcare Fund.



Establishment Labs, a global medical device company focused on breast implant technologies with a strong emphasis on product development and innovation, today announced a debt financing for up to $15 million with Perceptive Advisors and JW Asset Management, LLC. Also participating is Relativity Healthcare Fund, LLC, the family office investment vehicle for Allen Chao, founder and former Chief Executive Officer at Watson Pharmaceuticals, Inc.

“These funds strengthen our financial position, allow us to continue building momentum for Motiva Implants® in the international market, finalize our new state of the art manufacturing facility to meet increased product demand, and help fund the start of our United States Food and Drug Administration trials,” said Juan José Chacón Quirós, CEO of Establishment Labs. “We thank Perceptive Advisors and JW Asset Management for their ongoing commitment to our strategy.”

“We are excited to partner with Establishment Labs to support the growth curve of the company,” said Sam Chawla, Portfolio Manager at Perceptive Advisors. “We are committed to fueling innovation and Establishment Labs is the leader in innovation in its field with the potential to unlock significant long-term value.”

“We are pleased to further our relationship with Juan José and his team via direct investment in the debt financing,” said Jason Wild, President and Chief Investment Officer at JW Asset Management, LLC. “Establishment Labs is in the early stages of a truly transformative product development cycle, and JW Asset Management remains focused on our continued support for the company as they enter new markets.”

“I am excited to be partnering with Perceptive Advisors and JW Asset Management as they make this investment”, said Allen Chao, Ph.D., “I am looking forward to being part of Establishment Labs’ continued growth”

“This funding comes exactly one year from our original equity investment,” said Nick Lewin, Partner at Crown Predator Holdings. “It’s a testament to what Establishment Labs has accomplished in the past year that it now has this kind of access to capital. Breast implant technology has been vastly underinvested in over the past 25 years and the company’s efforts have proven that investment in the category leads directly to increased sales. Both patients and doctors highly value the improved safety, innovation, and aesthetic of Motiva Implants®, and we are confident that accelerated investment in this category will deliver outsized returns.”

About Establishment Labs:
Establishment Labs is a global, privately held, breast implant and medical technology company that designs, develops, manufactures and markets an innovative product portfolio consisting of advanced silicone-filled breast and body shaping implants ( Utilizing only the highest quality of medical grade silicones, the CE-marked Motiva Implants® line is rigorously scrutinized by professional Quality Engineers throughout the entire manufacturing process. All of its products are manufactured in full compliance with ISO and EU requirements, and are certified under the Medical Device Directive 93/42/EEC.

About Perceptive Advisors:
Founded in 1999, Perceptive Advisors is focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. Our dedicated team of industry experts uses a unique balance of scientific, technical and investment expertise to identify opportunities. Perceptive seeks to evaluate opportunities without biases by analyzing and weighing critical data and catalysts assessing the balance between market perception and reality. Perceptive manages approximately $2 billion across our strategies and has a long and successful track record.

About JW Asset Management, LLC:
JW Asset Management, a New York based registered investment adviser, is active in both public and private equity markets. Jason Wild, a registered pharmacist, is the firm’s Founder and Chief Investment Officer. JW Asset Management was founded in 2003 and has a strong history of finding opportunities within the healthcare sector.