First Aid Shot Therapy (F.A.S.T.), a US-based company developing medicines imbibed in liquid shot form, closed a $24m series C round on Wednesday led by healthcare product manufacturer Johnson & Johnson.
Johnson & Johnson, which invested through its Johnson & Johnson Innovation – JJDC subsidiary, was joined by investors including Lumira Capital, Sofinnova Ventures, Redmile Group and HealthQuest Capital.
F.A.S.T. is working on developing and commercialising a range of over-the-counter medicines to treat everyday health concerns that are taken in shot form.
The company will use the series C funds to expand a product portfolio that already includes treatments for hangovers, heartburn, cold and pain relief.
Mary Page Platerink, founder and CEO of F.A.S.T, said: “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.
“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.”
F.A.S.T. received series A funding from Sofinnova in 2013, before adding an undisclosed sum in a February 2014 series B round featuring Sofinnova, Redmile, HealthQuest, Clearwell Group and angel investor Mark Rampolla.