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March 7, 2018

Convexity Scientific Closes Equity Investment

FAIRFIELD, Conn., March 07, 2018 (GLOBE NEWSWIRE) — Convexity Scientific Inc., a life sciences company committed to bringing the best user experience to patients through innovative design and distribution of medical devices, announced today that it has closed an equity investment in a round led by Connecticut Innovations, Benslie Limited and Stonehenge Growth Capital.

The company will use the funding to accelerate go-to-market activities with a significant expansion in sales hires and marketing efforts. Convexity’s business strategy leverages its unique ability to develop health care products with innovative design and superior ease of use. The company’s first product, a nebulizer for the treatment of asthma, chronic obstructive pulmonary disease and other respiratory illnesses, is notable for its extremely small size, light weight and simplicity of use.

“We believe Convexity’s nebulizer is a game-changer,” said Benslie Partner Henry Weinstein. “It sets a new standard in both the domestic and international markets, and its distribution is highly scalable.”

“Convexity’s core focus on design and accessibility of function for all ages is disrupting the market of solutions for respiratory illnesses and contributing to a better quality of life for those who suffer from them,” said Jared Talisman of Stonehenge Growth Capital. “Stonehenge is proud to partner with this Connecticut-based company to accelerate their leadership in the market and to allow them to make key additions to the team.”

“We are very excited about the future of Convexity Scientific and are delighted to partner with our new investors,” said Ralph Finger, M.D., Convexity’s Chairman.

About Convexity Scientific Inc.

Convexity Scientific Inc. is a life sciences company committed to bringing the best user experience to patients through its innovative design and distribution strategies. Its first medical device, a handheld nebulizer used to treat respiratory diseases, was recently cleared by FDA. For more information, visit https://convexityscientific.com/.

About Connecticut Innovations

Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm, providing funding and strategic support to early-stage technology companies. In addition to equity investments, CI provides grants that support innovation and collaboration through CTNext, and connections to its well-established network of partners and professionals. To learn more, visit http://ctinnovations.com/.

About Benslie Limited

Benslie is an investment vehicle of EMC2 Fund Ltd, which has several venture capital investments in the United States and Israel.

About Stonehenge Growth Capital

Stonehenge Growth Capital, a subsidiary of Stonehenge Capital Company LLC, provides venture capital, private equity and mezzanine debt to private companies led by experienced management teams with a passion for innovation and the pursuit of high-growth opportunities. The Growth Capital team has invested over $1 billion in small and medium-sized businesses across venture capital, private equity and debt funds since 1993. To learn more about Stonehenge Growth Capital, please visit http://www.stonehengecapital.com/.

 

Original published via Nasdaq GlobeNewswire:  https://globenewswire.com/news-release/2018/03/07/1417700/0/en/Convexity-Scientific-Closes-Equity-Investment.html