The Wausau, WI-based probiotics manufacturer UAS Laboratories says it has raised more than $21.2 million, according to an SEC filing that was recently made public. Twelve investors participated in the equity funding round, according to the filing.
UAS Labs formulates, blends, bottles, and distributes probiotic products, which are designed to stimulate the growth of so-called “good” bacteria in the gut. The company offers private label sales, which allow customers to incorporate formulations from UAS Labs into dietary supplements and other products, and sell them under their own brand names.
The company was launched in 1979 by S.K. Dash, who remains a member of its board of directors, according to the filing. In 2013, the Milwaukee-based private equity firm Lakeview Equity Partners acquired UAS Labs for an undisclosed sum. As part of that deal, Kevin Mehring and Greg Leyer were named president and chief scientific officer, respectively, of UAS Labs. (Mehring also currently serves as the company’s CEO, according to its website). Read the full story here.