DALLAS, May 11, 2021 /PRNewswire/ -- Allied BioScience, maker of revolutionary residual antiviral surface coating SurfaceWise2™ , announced today that Midwestern private equity firm Capital7, LLC has made an early stage investment in its Series C Preferred Stock.
"After substantial due diligence, the Capital7 team decided to utilize our venture capital arm to invest in this exciting new patented chemical technology. Allied Bioscience represents a huge growth opportunity to provide consumers and industries such as mass transportation, sports, gaming and concert venues, healthcare, education services, military, government and other industries with an effective residual antiviral surface coating to combat the spread of bacteria and viruses including Covid-19," said Jared Sprole, Executive Director at Capital7. "We believe that the strong leadership team led by Michael Ruley and his team will enable the company to execute on its expansion domestically and internationally."
The investment comes at a time of significant growth for the company, including global demand in markets such as Canada, Germany, Australia, India and the United Arab Emirates, regulatory approval expansion by the Environmental Protection Agency for the use of SurfaceWise2 in additional states and an extended residual efficacy claim of 30 days, and plans to expand the company's offerings outside of the flagship surface coatings.
"This is an exciting time for Allied BioScience and we're thrilled to have the support of the Capital7 team during this period of growth," said Michael Ruley, CEO of Allied BioScience. "The investment firm seeks true partnerships, and we look forward to having their collaboration as we move forward with national approval of SurfaceWise2 and add additional products to our portfolio to help reduce the global burden of infectious disease."
About Allied BioScience Allied BioScience is a disruptive biotechnology company specializing in continuously active antimicrobial coatings providing 90 days of surface protection. Working across various industries and commercial settings, its customers include health systems, sports facilities, and other commercial partners.
The company is dedicated to saving life through revolutionary science and focuses on developing innovative solutions to create cleaner human environments through long-lasting, always-on antimicrobial coatings.
About Capital7 Capital7 is a Midwestern private equity firm founded by professionals focused on developing true partnerships with management teams while aligning incentives. Capital7 seeks to positively impact a company's capital structure to facilitate achievement of its objectives whether that is an ownership transition, recapitalization, liquidity event, management buyout, corporate carve-out, growth capital infusion, acquisition financing, or some other capital need. Capital7 focuses on what it knows best, lower, middle market companies in the following categories: Energy; Healthcare; Healthcare Technology; Manufacturing & Engineering; Real Estate; Software & Services. Within these sectors, the team brings its extensive operating experience to assist their portfolio companies in their growth with strategic planning, capital, management, and technology.