LiquiGlide Closes Intellectual Property-based Financing Deal in Collaboration with Aon and Atlas Credit Partners

CAMBRIDGE, Mass., April 21, 2022 /PRNewswire/ -- LiquiGlide®, the inventors of a breakthrough technology that is revolutionizing products, packaging, processes, and patient experiences by eliminating the friction between solids and liquids, Aon plc (NYSE: AON), a leading global professional services firm, and Atlas Credit Partners, an asset management firm focused on value-oriented credit investments, today announced the completion of an intellectual-property based financing deal that provides LiquiGlide with $35 million to expand its commercial activities and continue to develop its platform for new applications. 

Invented at MIT by co-founders Dave Smith and Professor Kripa Varanasi, the company's first-of-its-kind, patented technology removes friction between solids and liquids, allowing thick, slow-moving liquids to flow with ease, enabling advancements in packaging, manufacturing, and medical devices through safe and sustainable solutions that meet rigorous safety and regulatory standards. 

"We are surrounded by liquid products – from food or cosmetics in everyday life to valuable drugs or biologics in industry. Until now, we've accepted significant waste, whether in manufacturing or in packaging, as part of the price for these products because they stick to containers or devices they touch," said Kripa Varanasi, a MIT professor and co-founder and Chairman of LiquiGlide. "By eliminating friction, LiquiGlide's technology removes this basic constraint. Now, we can dispense every last drop, minimize yield loss in manufacturing, and reduce occlusions and infections in medical devices. Our team is on a mission to change the paradigm across industries to usher in sustainable products and processes as well as improve patient experiences and outcomes."

Last spring, Colgate launched Elixir, a new sub-brand of Colgate toothpaste that features redesigned packaging, enabled by LiquiGlide's EveryDrop™ technology, that allows consumers to see how much product is left, easily dispense it, and recycle the package. The Colgate Elixir package won the "Best in Show" and "Design Excellence" AmeriStar awards from the Institute of Packaging Professionals, and Colgate recently expanded the brand from Europe to Canada.   

"Aon and Atlas Credit Partners are innovative collaborators, who we are excited to have on board for the next phase of growth.  This capital allows us to scale our business and technology across packaging and biomedical applications to create products, systems and processes that are better for businesses, people and the planet," said Alex Ewing, LiquiGlide's Chief Operating Officer.

"Intellectual property continues to be one of the most valuable assets for driving growth, yet it remains elusive in the capital markets," said Lewis Lee, CEO of Aon's Intellectual Property Solutions. "Being able to better value and define intellectual property as an asset class creates new capital solutions for companies such as LiquiGlide and underscores the importance of IP for companies at all stages."

"We are both privileged and excited to work with the Aon and LiquiGlide teams to create a value-enhanced capital solution. Our structure will allow LiquiGlide to further advance the commercialization of its groundbreaking technology," said Drew Mallozzi, Managing Partner of Atlas Credit Partners.    

Aon was recently named to Fast Company's Most Innovative Companies list for its ground-breaking IP solutions. According to Ocean Tomo, IP and intangible assets now represent 90 percent of the value of Fortune 500 companies, but IP value is not widely understood in capital markets. Aon is working with companies like LiquiGlide to help them access non-dilutive growth capital by valuing intangible assets and structuring capital solutions that leverage such value.

About LiquiGlide
LiquiGlide's revolutionary technology eliminates the friction between liquids and solids to allow liquids to flow with ease. Invented at MIT by Dave Smith and Professor Kripa Varanasi, LiquiGlide's technology eliminates a fundamental design constraint and enables real, powerful breakthroughs across industries, transforming the way we manufacture, package, and consume viscous products. LiquiGlide also improves quality of life and patient care by enabling medical devices that can reduce the risk of occlusion and infection as well as improve the delivery of highly viscous drugs and biologics. To learn more about LiquiGlide, please visit https://liquiglide.com/.

Media Contact
Jenna GuarneriJMG Public Relations
jenna@jmgpr.com

About Aon
Aon plc  (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.

Media ContactNadine Youssefmediainquiries@aon.com

About Atlas Credit Partners
Atlas Credit Partners is a Houston, TX-based special situations investment firm, providing credit solutions to middle market borrowers.

Media ContactMatt LaterzaCOO, Atlas Credit Partners
mlaterza@atlascreditpartners.com

Safe Harbor Statement
This communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about possible or assumed future performance and results of Aon's operations. All statements other than statements of historical facts that address activities, events or developments that Aon expects or anticipates may occur in the future, including such things as its outlook, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of its business and operations, plans, references to future successes, are forward-looking statements. Also, when Aon uses the words such as "anticipate", "believe", "estimate", "expect", "intend", "plan", "probably", "potential", "looking forward", or similar expressions, it is making forward-looking statements.

Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for the years ended December 31, 2020 and December 31, 2021, are not necessarily indicative of results that may be expected for any future period, particularly in light of the continuing effects of the COVID-19 pandemic. Further information concerning Aon and its businesses, including factors that potentially could materially affect Aon's financial results, is contained in Aon's filings with the Securities and Exchange Commission (the "SEC"). See Aon's Annual Report on Form 10-K for the year ended December 31, 2021 for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is not under, and expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Aon is not responsible for information contained in this communication relating to LiquiGlide, including statements regarding its operations, products or services.

View original content:https://www.prnewswire.com/news-releases/liquiglide-closes-intellectual-property-based-financing-deal-in-collaboration-with-aon-and-atlas-credit-partners-301529539.html

SOURCE LiquiGlide