Rebiotix, Inc., Announces Its Acquisition
APRIL 9, 2018 (Minneapolis) — Sofia Fund, a leading angel investment firm focused on high-growth, women-led early stage companies, today announced that its portfolio company, Rebiotix, Inc., is being acquired by Ferring Holding, Inc., a U.S.-based subsidiary of Ferring Pharmaceuticals, a Swiss-based, privately-held, biopharmaceutical company. Rebiotix is a microbiome company and will become the Microbiome Center of Excellence for Ferring, retain the Rebiotix name, and operate as a wholly owned subsidiary. Sofia Fund held investments in Rebiotix in both Sofia Fund and Sofia Fund II.
For investors in the first Sofia Fund, this is the third exit from their original portfolio of nine companies. This is the first exit for Sofia Fund II, which started investing in 2015. The exit will provide a positive return to investors in both funds with additional payouts based on performance milestones of Rebiotix.
“This is an exciting transaction for the women-led entrepreneurial community as one of its role models, serial entrepreneur and Rebiotix President and CEO Lee Jones, leads the company into its next stage,” said Joy Lindsay, Sofia Fund managing partner. “This development further reinforces the fact that women-led companies, often overlooked by venture capitalists, continue to grow exciting, successful businesses with compelling value propositions and innovative products that address significant market needs.”
“Sofia Fund was one of our earliest investors,” said Jones, whose experience includes leading Inlet Medical, where she led its turnaround to profitability and ultimate sale. “Sofia Fund managing partners have deep experience in recognizing the potential of early stage companies, having invested in more than 50 companies over the course of 30 years. I appreciate being backed by a woman-focused fund. The fact that the Sofia Fund is invested in by women for women-led companies makes it unique.”
Jones will continue in her CEO role and operate the company from its Minnesota headquarters, where it expects to add jobs and grow revenue. Rebiotix was one of the companies that used the Minnesota Angel Tax Credit program to attract investors to successfully leverage its early growth. “Rebiotix is an excellent example of how angel tax credits work,” said Lindsay. “Now there will be new economic growth for the state because of the success of this company.”
About Rebiotix Inc.
Rebiotix Inc. is a clinical stage microbiome company focused on harnessing the power of the human microbiome to revolutionize the treatment of challenging diseases. Rebiotix’ lead drug candidate, RBX2660, is in Phase 3 clinical development for the prevention of recurrent Clostridium difficile (C. diff) infection. For more information on Rebiotix and its pipeline of human microbiome-directed therapies, visit www.rebiotix.com.
About Sofia Fund
Sofia Fund invests in and grows exceptional women-led companies to maximize returns for investors by bringing its portfolio companies successfully to profitable exits. Sofia Fund uses a rigorous process for selecting and investing in high-growth, technology-driven opportunities. Its team of professional women angel investors actively manages and supports its portfolio businesses, leveraging deep expertise and broad networks to help women entrepreneurs achieve success. Its investment team has invested more than $10 million in 50 companies to date. For more information about what makes a business fundable, see http://sofiafund.com/angels-tell-the-truth-what-makes-a-new-company-fundable/. For more information about Sofia Fund, visit www.sofiafund.com.