First Aid Shot Therapy raises $24 million

BURLINGAME, Calif. - First Aid Shot Therapy (F.A.S.T.), a consumer healthcare company focused on over-the-counter medicine in liquid shot form represented by Advantage Consumer Healthcare, announced Wednesday that it has completed a Series C financing round, garnering $24 million.  

 

Johnson & Johnson Innovation – JJDC led the round with additional support from new investors Lumira Capital and existing investors Sofinnova Ventures, Redmile Group and HealthQuest Capital.

 

F.A.S.T. is building the "New Way to Manage Your Health" by offering consumers a portfolio of single dose liquid medicines that address day to day healthcare needs.  The Series C funding will be used to expand the company's product portfolio that already includes: F.A.S.T. Pain, Hangover Relief, Heartburn and Cold Relief and to provide the company with the depth of working capital to support rapid customer expansion.  

 

Since its launch, F.A.S.T. has already achieved listing with many of the leading grocery and convenience distributors including: McLane's, AMI (Core-Mark) and United Grocers, and placement at retailers such as H-E-B, Kum & Go, Circle K Southwest, United Pacific, EZ Mart, Holiday, Tedeschi's Food Stores, Schnucks and Safeway. In addition, retailers such as CVS, Rite Aid and 7-Eleven have recently been added as retail partners.

 

"We are pleased to welcome two major new investor groups to the F.A.S.T. family. JJDC and Lumira Capital bring a wealth of experience in the pharmaceutical and consumer industries," stated Mary Page Platerink, CEO F.A.S.T. "Their collective knowledge of consumer healthcare will give our company important access to research, consumer behavior trends and shopper insights to help us empower consumers to manage their own health," she said. "Innovation in the OTC market has been focused on functional benefits, but we know consumers are looking not only for effective products, but also for products that fit into their busy lifestyles. We have seen that the on-the-go occasion is growing in many consumer categories."

 

"After looking at several opportunities, we believe that F.A.S.T.'s liquid shots are the right format for consumers looking for relief on-the-go," said Peter van der Velden from Lumira Capital, who joined the board of F.A.S.T. after the investment round. "And the F.A.S.T. team has a unique go-to-market strategy that we believe will make a success of this exciting new portfolio of medicines."