Athyrium focuses on investment opportunities in the global healthcare sector broadly defined to include pharmaceuticals, biologics, biotechnology, specialty and generic pharmaceuticals, medical devices and products, laboratory and diagnostics products and services, healthcare services, and healthcare information technology.
Although each situation is unique, in general, Athyrium:
- seeks to invest $25 million to $150 million per transaction with the ability to scale-up opportunistically on select investments
- invests in both public and select private companies across all geographies
- prefers to invest in commercial-stage companies that sell products that have highly compelling clinical data and are cost effective
- prefers investment structures that provide material downside protection and produce current income
- values regulatory and IP protections
- is attracted to transactions that increase the collateral base (acquisitions, sales force expansion, R&D)
- possesses the capabilities to be the sole investor, lead investor, or part of a consortium
- desires to make multi-year commitments which can be increased over time
Athyrium also considers select special situations investments.