Athyrium is exclusively focused on the healthcare sector which allows for a deep understanding of business opportunities. We invest across all sub-sectors including biopharmaceuticals, medical devices and products, diagnostics, and healthcare services. We will also invest in areas that utilize similar skills and expertise such as animal health and industrial biotechnology.
We believe our deep sector knowledge and experience allow us to be thoughtful about how to add value and how to respond to more challenging circumstances.
We are long term investors in businesses and long term partners with entrepreneurs. We rely on substantial due diligence to gain a complete understanding of a situation or opportunity and invest based on sound fundamentals.
We prefer to invest in clinically meaningful products or services, especially ones that improve patient outcomes and reduce overall healthcare expenditures.
We prefer to invest directly in a company or situation where our capital will help to create value for our partners and ourselves.
Athyrium’s goal is to partner with industry participants to craft transactions that meet our investment objectives while providing flexible and creative capital solutions to the Industry.
The Athyrium team's roots are in the private equity business and this informs how we approach opportunities. We value our reputation and believe that a successful investment requires a good outcome for ourselves AND our partner company. To that end, we attempt to structure investments which align the interests of the various stakeholders.
Our process usually starts with a conversation with management, sometimes under confidentiality. A favorable initial review and business terms discussion leads to a term sheet that usually includes an exclusivity period. Completion of detailed due diligence and IP review allows for final legal documentation and funding of the investment. Overall, the average process takes 4 to 8 weeks.
Athyrium is also open to working on a specific transaction alongside a management team by providing acquisition financing towards a particular asset or opportunity.
Capital raising is an exhausting and sometimes frustrating process. Athyrium recognizes that prolonged financing processes can be very disruptive to management teams. We also recognize that it can be very frustrating to receive unclear or no feedback on an investment opportunity. We strive to quickly assess opportunities and rapidly provide feedback to management teams. We also recognize that certain opportunities (e.g., acquisitions) are time sensitive and believe our process is compatible with such situations.
Our capital base is committed in dedicated funds and we are backed by some of the largest pension plans and endowments in the world. Our access to long-term capital and flexible mandate allow us to customize capital solutions around a company's specific needs and constraints such as repayment schedule, equity dilution or senior debt carve-out.