Tyrell, Inc. Completes $28 Million Private Equity Financing
July 11, 2008
HOUSTON, Texas, July 11, 2008 — Tyrell, Inc, the creators of Zeno, an innovative hand-held medical device used in the treatment of acne, today announced that the company has closed a $28 million round of equity financing. The investment was led by Santé Ventures and Catterton Partners, and joined by existing investor Austin Ventures. Tyrell will use the funds to support expanded distribution of the Zeno line as well as to support new product introductions.
Kevin Lalande, Managing Partner for Santé Ventures and Michael Farello, partner at Catterton Partners will join the company’s Board of Directors.
“Tyrell has developed a plan to develop consumer products around their proprietary ClearPoint technology in various product categories,” said Mr. Lalande. “They have achieved category leadership in Acne Care and are poised to repeat that success in other skin care segments. We at Santé Ventures have followed this company since inception and we are pleased to have the opportunity to become an investment partner.”
“Tyrell has built both a brand and a product line which provides a platform for growth,” said Mr. Farello. “By focusing on increasing retail velocity and new product introductions, Tyrell is poised to become a major player in the emerging Personal Medical Device category and in personal care more broadly.”
Blaine Wesner, General Partner at Austin Ventures will continue as a member of the company’s Board of Directors. He noted:
“We continue to be very impressed with the management team at Tyrell as well as the innovative technology being commercialized in the Zeno product line.”
Walter Klemp, President and CEO of Tyrell closed by saying, “The founders of Santé Ventures have broad healthcare investment experience and we are honored that they have chosen to lead this financing round. Catterton Partners brings a breadth of investment expertise in the consumer industry making them an ideal investment partner at our current stage. The addition of these two very experienced investment firms to our highly regarded original investment partners is testament to the progress achieved by the company and the unique investment opportunity Tyrell represents.”
About Tyrell, Inc. and Zeno®
Established in Houston, Texas, in September 2002, Tyrell, Inc. is the leading pioneer in the category of personal medical devices. The company was formed to develop and launch Zeno, a product set to revolutionize over-the- counter treatment of acne pimples. Utilizing proprietary ClearPoint technology, Zeno electronic medical devices apply sustained heat therapy to destroy the bacteria that causes common acne, dramatically reducing the healing time of pimples. The Zeno acne product line includes Zeno MD, Zeno PRO, Zeno and Zeno Mini. For more information, visit www.myzeno.com
About Santé Ventures
Santé Ventures is a specialized venture capital firm founded in 2006 by a group of partners with deep healthcare investment and operations experience. In addition to capital, the firm provides its portfolio executives with additional healthcare domain expertise, an extensive network of relationships and singular industry focus. Santé invests exclusively in early-stage companies developing innovative new medical technologies and healthcare services. For more information, please visit www.santeventures.com
About Catterton Partners
With more than $2.3 billion under management, Catterton Partners is a leading private equity firm in the U.S. focused exclusively on the consumer industry. Since its founding in 1990, Catterton has leveraged its investment capital, strategic and operating skills, and network of industry contacts to establish one of the strongest investment track records in the consumer industry. Catterton invests in all major consumer segments, including food and beverage, retail and restaurants, consumer products and services, and media and marketing services. Catterton has led investments in companies such as Wellness Pet Food, The Worth Collection, Build- A-Bear Workshop, P.F. Chang’s China Bistro, Fekkai and Kettle Foods. More information about the firm can be found at www.cpequity.com
About Austin Ventures
Austin Ventures, with $3 billion dollars under management across nine funds, has provided startup and growth capital to emerging companies for over twenty years. We partner with exceptionally talented entrepreneurs and operating executives to build valuable businesses in a variety of technology and service industries. We invest nationally but maintain a particular focus on Texas, where we are the region’s most active investor. Our team of investment professionals works with companies at every stage of the funding lifecycle, from initial seed investments, through startup and growth capital, to management-led buyouts and recapitalizations. Austin Ventures brings a long-term investment perspective, broad experience in building high-growth companies, and access to an unparalleled network of entrepreneurs and executives. Visit www.austinventures.com for more information.