Turn Therapeutics – an innovator in advanced wound and dermatology solutions – announced a significant investment commitment from GEM Global Yield, a $3.4 billion private equity and alternative investment group.
This agreement provides Turn Therapeutics with a commitment of up to $75 million for the 36-month period following a public listing of the company’s stock. Through a share subscription facility, Turn Therapeutics will be permitted to place stock to GEM at intervals and in amounts determined by Turn’s management, with no minimum drawdown obligation.
Turn Therapeutics secured three FDA medical device clearances, achieved over 200,000 uses of its technology, and is currently in pursuit of multiple new drug approvals. And Turn Therapeutics launched a limited, private financing vehicle on a Regulation Crowdfunding exchange in May 2024 that enables individuals, in addition to institutional and accredited investors, to invest in the company.
GEM has a track record of supporting high-growth companies across various sectors, with over 590 completed transactions in 75 countries.
KEY QUOTES:
“This investment provides both capital flexibility and firepower. Our IL-31/36 inhibitor for eczema, as well as our onychomycosis program, are top priorities in the near-term. However, discoveries in additional areas, such as thermostable vaccine delivery, have proven highly worthy of additional inquiry. This partnership with GEM ensures that we won’t have to pick and choose how we can best serve patients.”
- Bradley Burnam, CEO of Turn Therapeutics
