US-based AeroSafe Global has gathered an aggregate of $31.5m (£25.2m) growth capital from Peloton Equity and certain existing investors such as Flexstone Partners.

pharmadrug

Image: AeroSafe provides advanced packaging technology, data tracking and analytics to ship temperature-sensitive drugs and devices. Photo: courtesy of Thomas Breher from Pixabay.

AeroSafe intends to use the funding to optimise its sales and marketing activities, introduce additional value-added services and technologies, as well as expand into new geographies.

The company provides outsourced cold-chain-as-a-service (CCaaS) solutions for the customers in the pharmaceutical, biopharmaceutical, and medical device industries.

With more than 30 Fortune 500 pharmaceutical and healthcare customers, the company offers advanced packaging technology, cost-efficient re-use business model, and data tracking and analytics for the shipment of temperature-sensitive products such as drugs and devices.

The company also provides customers with a streamlined solution for the entire cold chain from manufacturer to end-user.

AeroSafe CEO Jay McHarg said: “Peloton’s expertise and network in the healthcare segment will bring additional resources, insights and business development opportunities to accelerate industry adoption of AeroSafe’s innovative products and technologies.

“This new financing round expands our team of blue-chip investors who enthusiastically support AeroSafe’s growth plans.”

AeroSafe provides a total turnkey solution ranging from design and testing to training and day-to-day management to ensure a seamless delivery of pay-per-use packaging and essential data, management, and logistics services.

It delivers cold chain services that result in zero temperature excursions for the customers in the bio-pharma industry.

According to the company, the global biopharmaceutical cold chain logistics market, currently at $15bn (£12bn), is growing rapidly due to advancements in biologics, vaccines, cell therapy products, and other drugs and devices that are produced to temperature specificity and require maintenance of that temperature range across the supply chain.

Peloton Equity partner Justin Yang said: “The market AeroSafe serves is massive and is becoming an increasingly important component of the global pharma supply chain. Peloton has been looking for differentiated growth companies in this space for a long time, and we are particularly impressed with AeroSafe’s re-use business model, product technology and customer service performance.”

Peloton Equity is a Connecticut-based private equity firm that majorly invests in the healthcare industry.