TMCnet News
EMBR LABS SECURES $35 MILLION TO FUND MARKET EXPANSIONBOSTON, May 3, 2023 /PRNewswire/ -- Embr Labs, Inc, makers of Embr Wave®, the leading wearable to treat the symptoms of menopause, today announced that it has raised $35 million via intellectual property (IP)-based debt financing. Led by GT Investment Partners ("Ghost Tree Partners") in collaboration with Aon plc (NYSE: AON), the financing will fuel Embr's consumer growth strategy via retail and geographic expansion, improving even more lives with the power of temperature. The Embr Wave® wristband, using Embr's patented technology, delivers precisely calibrated cooling or warming sensations at the touch of a button for instant, discrete control over hot flashes and related menopause symptoms. Clinical research has shown that using Embr Wave gives you immediate relief from hot flashes and improves sleep. "Women today are seeking natural, non-hormonal alternatives to control their symptoms of menopause, and the Embr Wave is the solution they've been looking for," said Elizabeth Gazda, CEO of Embr Labs. "Through our partnership with Ghost Tree, Embr Labs is able to accelerate the fulfillment of our mission to provide this ground-breaking technology to women everywhere." The influx of new capital will support Embr's rapid growth and continued expansion into new retail channels and markets. Embr Labs has secured partnerships with some of the most recognized distribution and retail organizations, with Embr Wave now available at most major retailers across the US and United Kingdom. Embr Wave is most recently available via Costco, Sam's Club, Walmart, FSA Store and HSA Store, BestBuy, Target, with plans to launch in multiple new retailers in the US and UK by year end. "We recognized Embr's market leadership and the company's rapid growth potential," said David Byrne, Managing Director, Ghost Tree Partners. "We are pleased to support the company as the investment community has yet to recognize the massive unmet need the menopause segment presents. We're excited to provide the capital to support the company's retail growth and geographical expansion." "Innovation drives growth, and intellectual property can be the valuable asset created from that innovation," said Lewis Lee, CEO, IP Solutions at Aon, a global professional services firm that facilitated the transaction through valuation and broking services. "We are excited to support innovative companies with intellectual property portfolios like Embr Labs to help them unlock the potential value of those IP assts and pursue growth independent of equity market volatility." About Embr Labs, Inc. About Ghost Tree Partners About Aon Follow Aon on LinkedIn, Twitter, Facebook and Instagram. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here. Information Concerning Forward-Looking Statements Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for prior periods are not necessarily indicative of results that may be expected for any future period. Further information concerning Aon and its businesses, including factors that potentially could materially affect Aon's financial results, is contained in Aon's filings with the Securities and Exchange Commission (the "SEC"). See Aon's Annual Report on Form 10-K for the year ended December 31, 2022, for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is not under, and expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Aon is not responsible for information contained in this communication relating to any borrower or potential borrower, including statements regarding a borrower's operations, products or services. CONTACT: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/embr-labs-secures-35-million-to-fund-market-expansion-301814905.html SOURCE Embr Labs |