J&J Innovation, the corporate venturing arm of pharmaceutical firm Johnson & Johnson, has led a $24m series C for Johns Hopkins University spinout First Aid Shot Therapy (Fast).
The US-based company is producing cures for common ailments to be sold directly to customers in the form of one shot drinks. The shots target conditions like the common cold, pain, heart burn, and hangovers.
Founded in 2010, Fast has held two venture rounds prior to the latest one, but did not share details of investors nor the amounts invested. Other investors in the series C include Lumira Capital, Sofinnova Ventures, Redmile Group, and HealthQuest Capital.
Already available in some stores, Fast plans to use the funding to both expand its portfolio of products and to bring those products to more stores across the US.
Mary Page Platerink, CEO of Fast, said: “We are pleased to welcome two major new investor groups to the Fast family. JJDC and Lumira Capital bring a wealth of experience in the pharmaceutical and consumer industries. Their collective knowledge of consumer healthcare will give our company important access to research, consumer behaviour trends and shopper insights to help us empower consumers to manage their own health.”
