$25 million investment from Valkyrie will support clinical trials with ground-breaking, prescription-based hair growth product for men and women

PRESS RELEASE  UPDATED: APR 1, 2021 08:00 MDT

PARK CITY, Utah, April 1, 2021 (Newswire.com) - Investment and growth firm Valkyrie Group ("Valkyrie") has committed an investment of $25 million into Aneira Pharma, Inc. ("Aneira") to be used toward completion of its clinical trials. Aneira is developing a ground-breaking, prescription-based hair growth product for men and women experiencing hair loss. Valkyrie's decision to invest is the result of their experience with Aneira's founders and their successful backgrounds in building innovating products. It also meets Valkyrie's commitment to funding straightforward business investment strategies.

Chad Swensen, Founder and Managing Partner of Valkyrie, noted, "The untapped demand potential for a product like Aneira's is significant, particularly as we understand that the global hair loss market will continue to grow and is expected to exceed $12 billion in the next few years."

Valkyrie co-founding partner and former Goldman Sachs global investor Mark McGoldrick agrees. "This product can be a game-changer offering in the multi-billion-dollar hair growth market which today offers limited remedies for hair loss. Our partnership with Aneira allows us to play an integral role with this exciting company and adopt a straightforward investment strategy in an industry with an annual compounded growth rate that exceeds 5%."

The Aneira product currently in development, promises to produce results of newer, thicker and darker hair growth without unwanted side effects. When approved, the hair growth product will be Aneira's first product to market, although not the only product in their pipeline. The Company has plans for additional hair growth products for the underserved, but large markets. These include products being developed to regrow hair for patients that have lost hair due to illness and/or hair loss disorders. Additionally, Aneira is developing a formula for eyebrow growth and eyebrow thickening.

Aneira was founded by veteran biotech/pharmaceutical executives with a wide range of expertise. Co-founders John Wurst and Kenton Abel, Ph.D., are patent attorneys who have experience with both start-up and established biotech/pharmaceutical companies. Wurst served as lead patent attorney for LatisseÆ and other hair growth products before co-founding Aneira.

"We're pleased to have Valkyrie as our capital partner," Wurst said. "Valkyrie's extensive background and team give us the required capital and experience to help drive the expansive short-term and long-term growth of the company."

Abel formerly oversaw the patent portfolio and strategy for Botox® and was a co-founder of Bonti, Inc., a company acquired by Allergan for $195 million.