Covira Surgical

Covira Surgical

Revolutionizing Surgical Infection Prevention

Security Type
Common Stock
Min Investment
North Chicago, IL
Offering Date
June 29, 2021
Expected Close Date
December 28, 2021
Target Raise
Security Price

Company Description

Covira is an early stage biotech company focusing on novel therapeutic alternatives to prevent postoperative (surgical) infections and related complications by leveraging the power of the gut microbiome to enhance immunity and improve one's overall health-risk against infection. This microbiome-focused company is based on the work of Dr. John Alverdy, MD, a professor of surgery, practicing gastrointestinal surgeon and world authority on the role of the microbiome in surgical infections. Covira has developed a platform technology called Pi-PEG to reduce infection risk and related complications following surgical procedures.

Key Deal Facts

Market Opportunity: Covira estimates the US total available market for Pi-PEG's top three prioritized indications (Surgical Site Infections, Anastomotic Leak, Sepsis) to be $8.2B.
The peak year net revenue forecast is projected to reach $2.2B by 2037 (Source: IQVIA).
Technology Platform: Pi-PEG is an orally administered anti-virulence agent to prevent postoperative infections and their progression to sepsis.
Management Team: Founder is a preeminent surgeon-scientist and world leader in GI surgical infection research, CEO is a proven life science executive from J&J, Abbott and four prior startups including two in the biotech space culminating in strategic sales to larger multinational corporations.

Management Team / Advisory Board Bios

Peter Farmakis, MBA, CEO
Peter Farmakis is a CEO with proven life sciences (Biotech/Pharma, Medical Device, and Molecular Diagnostics) business and leadership successes from two Fortune 100 companies (Johnson & Johnson and Abbott). His prior experience includes building, launching, and scaling four life science startup companies, including two in the biotech space culminating in strategic sales to larger multinational corporations.

John Alverdy, M.D., FACS, Founder & CSO
Dr. John Alverdy, Founder & Chief Scientific Officer is a preeminent surgeon-scientist and world leader in surgical infection research with a focus on the molecular basis of surgical infections and the gut microbiome. As a practicing gastrointestinal surgeon with over 200 peer reviewed publications, Dr. Alverdy is the Sarah and Harold Lincoln Thompson Professor of Surgery and the Executive vice-chair surgery at the University of Chicago.

Scott Hales, Corporate Finance - Fractional CFO (Consultant)
Scott serves as Covira CFO (Fractional/Consultant), devoting approximately 20 hours per week to the role. He has 30 years of financial, operational, and advisory experience across multiple dynamic and high-growth industries. He spent the last decade as a CFO (including Interim/Fractional positions) serving both entrepreneurial founders as well as the publicly traded and private equity investors that acquired the privately-owned, middle-market companies. Most of Scott 42 career transactions were at Citi Capital Strategies (then a division of Citigroup), where he completed MA, recapitalization, and capital raising deals valued at US$1 billion in the aggregate. Notable sector coverage as a corporate finance specialist has included professional services, software/IT, and life sciences/medical devices.

Jessica Klapper Fairchild
Outside General Counsel
Jessica B. Fairchild is an experienced business attorney and executive with more than 20 years of legal experience in large law firms, in-house, and small firm private practice. As a Founding Partner of CROKE FAIRCHILD MORGAN & BERES, Jessica has sought to develop long-standing relationships with clients, often serving as outside general counsel. Jessica looks to provide top-notch legal services combined with practical advice to both the business and legal clients she advises. Jessica’s practice focuses on M&A, venture capital and general corporate work. Her clients include private companies, private business founders and CEO’s, high net worth individuals and family offices.

Frank Costabile
Frank J. Costabile has the passion and drive for his business to deliver excellent customer service and strives to help his clients reach their goals. Frank graduated from Millikin University in Decatur, IL with a Bachelor of Science in Accounting and is a Certified Public Accountant. After college, Frank worked for a large accounting firm in Chicago for over ten years. In 2009, Frank took over the family business from his father. He enjoys volunteering and coaching his son’s and daughter’s soccer teams.

Sanjiv Hyoju, MBBS MSc Surgery
Surgeon Scientist and Research Professional
Surgeon Scientist with a strong clinical background. His area of interest is Microbiome, Obesity, Sepsis, Anastomosis leak, Surgical site infection, and COVID-19 mitigation lately. He is trying to implement novel ideas and understanding generated over the decade of research to treat Obesity, Sepsis, Surgical Site Infection, and Anastomosis Leak and recently also got interested in COVID-19 mitigation with simply Clonidine.
Amount Raised : $399,127
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Security Description

Common stock is a security that represents ownership in a corporation.

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