DUBLIN, Calif., July 9, 2013 /PRNewswire/
Today, Tria Beauty, Inc. announced the closing of $45.5 million in new equity financing and a new structured debt facility. This latest round of equity financing was led by Bay City Capital, and joined by new investors, AmorePacific Ventures and Athyrium Capital Management. All major existing investors including Aisling Capital, DeNovo Ventures, Morgan Stanley Alternative Investment Partners, Vivo Ventures and Technology Partners all participated in the equity financing. These funds will be used to launch multiple new laser devices for skincare, including the company's first device in the largest skincare segment - anti-aging. The funds will also allow the company to selectively expand distribution and accelerate its growth and operating plans.
"We are thrilled to welcome Bay City Capital, AmorePacific Ventures and Athyrium Capital as new investors, and appreciate the continued and unwavering support of our existing investors. This new financing reflects investor confidence and support of the company, our breakthrough skincare products built upon a proprietary portfolio of medical laser technologies, and our team's ability to build the Tria brand and drive consumer adoption and advocacy," commented Kevin Appelbaum, CEO of Tria Beauty, Inc. "In less than five years and in the midst of a troubled economy, Tria has grown from a nascent start-up generating its first revenues to the world's largest marketer of medical lasers for treating multiple skincare concerns. This financing will provide Tria with capital needed to continue to create breakthrough skincare products that deliver results never before available outside of a physician's office."
"Tria Beauty's high growth, professional-quality products and excellent management team attracted us to this global business. We are excited to support the company as it introduces multiple new products into large market segments worldwide," said Dayton Misfeldt, Investment Partner, Bay City Capital.
Tria Beauty also announced today the completion of an up to $45 million structured lending facility provided by Athyrium Capital. This new debt facility refinances existing debt and provides incremental, non-dilutive capital to the company. Wedbush Securities acted as strategic advisor to the company in the debt refinancing.
"We have been investors in innovative companies bringing disruptive medical technologies and services to the market for some time. We see in Tria a unique combination of best-in-class technology, superior product design and a management team capable of scaling Tria into a dominant, global skincare brand," said Dick Pines, Partner, Athyrium Capital Management.
About Tria Beauty, Inc.
Tria Beauty, Inc. creates laser and light-based skin care products that deliver professional results at home. The clinically proven Tria Hair Removal Laser is the first and only FDA-cleared hair removal system available for at-home use. It is also the only at-home hair removal device on the market that uses diode laser technology, the same leading technology used by thousands of physicians for delivering safe and effective hair removal in-office. The Tria Skin Perfecting Blue Light treats the bacteria in the skin that causes acne, and is clinically proven to rapidly clear acne breakouts and improve overall complexion. The Tria Skin Rejuvenating Laser treats multiple signs of a facial aging, is Health Canada licensed and CE marked for sale in Europe. Learn more about Tria Beauty's devices and other skin care products by visiting www.triabeauty.com.