Capital Royalty L.P., a health care-focused investment firm with more than $3 billion of assets under management across more than 45 portfolio companies, purchased 4 million shares of Valeritas Holdings Inc. (VLRX, Financial) for an average price of $10 per share on March 28, according to an SEC filing.
Capital Royalty now owns 5,185,968 Valeritas shares total following the transaction.
Valeritas is a medical technology company focused on developing innovative technologies to improve people's health and quality of life. The company's product, the V-Go Disposable Insulin Delivery Device, is used by patients with Type 2 diabetes to maintain target blood glucose goals. Its single-use, disposable V-Go device includes V-Go PreFill and V-Go Link.
V-Go is a disposable insulin delivery device a patient adheres to his or her skin every 24 hours. V-Go enables patients to closely mimic the body's normal physiologic pattern of insulin delivery throughout the day and to manage their diabetes with insulin without the need to plan a daily routine around multiple daily injections.
V-Go is the first single-use, fully-disposable, mechanical delivery device that delivers insulin at mealtimes and a basal rate to be approved by both the U.S. Food and Drug Administration and the European Medicines Agency. Commercial sales of the device in the U.S. began during the summer of 2012.
Valeritas Holdings has a market cap of $10.64 million, an enterprise value of $59.75 million, a price-sales (P/S) ratio of 0.58, a current ratio of 2.06 and a quick ratio of 1.26.
An interview with Valeritas CEO John Timberlake can be accessed here.
Disclosure: Author does not own any shares of this company.
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