Supplement Filed pursuant to Rule 253(g)(2)
File No. 024-11834
SUPPLEMENT DATED MARCH 30, 2023
TO OFFERING CIRCULAR DATED APRIL 8, 2022
BALANCED PHARMA, INCORPORATED
This document supplements, and should be read in conjunction with, the Offering Circular (the “Offering Circular”) dated April 8, 2022, and as supplemented on August 18, 2022 and July 18, 2022 (the “Supplements”), of Balanced Pharma Incorporated. (the “Company”). Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.
The Offering Circular and Supplements are available here:
https://www.sec.gov/Archives/edgar/data/1838860/000110465922092461/tm2223737d1_253g2.htm;
https://www.sec.gov/Archives/edgar/data/1838860/000110465922080938/tm2221418-1_253g2.htm; and
https://www.sec.gov/Archives/edgar/data/1838860/000110465922044420/tm229451d2_253g2.htm
Additional information about the Company is available in the amendment to its 2022 Semiannual Report filed on Form 1-SA available here:
https://www.sec.gov/Archives/edgar/data/1838860/000110465922100549/0001104659-22-100549-index.htm; and is hereby incorporated by reference herein.
The purpose of this supplement is to:
| · | Announce the closing of the Company’s Regulation A offering. |
| · | Add Jim Pellegrini as Chief Operations Officer. |
| · | Add Eric Sherb as Chief Financial Officer |
Closing of Regulation A Offering
On April 7, 2022, the Company commenced a Regulation A offering. The Company intends to terminate the offering on March 31, 2023.
Adding Jim Pellegrini as Chief Operating Officer and Eric Sherb as Chief Financial Officer
As a result, the Company amends and restates the following sections of its Offering Circular:
DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES, page 21
The ’s executive officers, directors and significant employees are listed below.
| Name | Position | Age | Term of Office (if indefinite, give date appointed) | Approximate hours per week (if part- time)/full-time |
| Executive Officers: | ||||
| J. Scott Keadle | Chief Executive Officer | 57 | Indefinite - Appointed September 2020 | 40 |
| Jason Suggs | Chief Communications Officer | 46 | Indefinite - Appointed January 2022 | 10 |
| Eric Sherb | Chief Financial Officer | 36 | Indefinite - Appointed February 2023 | 5 |
| Jim Pellegrini | Chief Operations Officer | 56 | Indefinite - Appointed February 2023 | 8 |
| Mark Sebree | Chief Development Officer | 64 | Indefinite – Appointed August 2022 | 10 |
| Directors: | ||||
| J. Scott Keadle | Director | 57 | Indefinite - Appointed September 2020 | |
| John Selig | Director | 53 | Indefinite - Appointed September 2020 | |
| Mark Sebree | Director | 64 | Indefinite – Appointed August 2022 | |
Officers and Significant Employees
J. Scott Keadle, Chairman, Chief Executive Officer and Director
J. Scott Keadle is the founder, Chairman, and CEO of BPI and a business leader with more than 30 years of experience. As CEO of BPI, he led two successful fundraising rounds, prototype product development, and a successful FDA PIND regulatory meeting. Since 2016, Scott has served as CEO and as a practicing dentist at New Smile Carolina. He has also served as the CEO and as a practicing dentist at Salisbury Dental Care from 1990 until 2017. Scott has served as CEO of Keadle Professional Properties, a commercial real estate design, development, and construction company, since 1996, and is a former Iredell County Commissioner, where he shared oversight of a $150M annual budget and more than 900 employees. Scott holds a Doctor of Dental Surgery degree from the West Virginia University School of Dentistry.
Jason Suggs, Chief Communications Officer
Jason Suggs serves as Chief Communications Officer at BPI with over 20 years of experience leading successful communications, brand strategy, and technology initiatives. Since 2010, he has served as founder and CEO of Orange Reef Sustainable Business Results, providing consulting and solutions to diverse organizations, primarily in the financial, healthcare, and government spaces. He serves as Executive Director of Technology and Communications for AIF Global, an independent economic think tank focusing on institutional investment policy. He serves as Executive Director of Brand and Technology for the National Institute of Public Finance. In 2020, Jason was featured as a thought leader by the National Association of State Treasurers and is the recipient of the 2020 Technology and Brand Management Excellence Award by the AIF Institute, as well as the Innovation Award and Treasurer’s Challenge Coin by one of the leading state treasuries in the United States. Jason’s educational background includes studies in marketing, communications, and ROI methodology at Columbia Business School and Villanova University, along with a Bachelor of Science in Mathematics from the University of North Carolina at Charlotte.
John Selig, Director
John Selig serves as a member of the board of directors at BPI and has taken an active leadership role, bringing over 20 years of experience with life sciences start-ups. In June 2014, John co-founded and leads WaveEdge Capital, a life sciences and healthcare investment bank based in Silicon Valley, advising companies on M&A and financial strategy. From November 2011 to June 2014, he served as Managing Director at Woodside Capital Partners, a boutique investment bank, where he founded and co-led the Life Sciences & Healthcare Group. He has advised both Fortune 100 and venture-backed life sciences and healthcare companies on transaction strategy and valuation at Strategic Decisions Group and Keelin Reeds Partners. John is an advisory board member at Launchpad Digital Health Fund and a frequent lecturer on valuation, transactional strategy, capital raising, and exit strategy at organizations including BIO, Genentech, and Stanford Medical School. He holds a Bachelor of Arts in English (magna cum laude) from Brown University and a J.D. from Stanford Law School.
Mark Sebree, Director and Chief Development Officer
Mark Sebree serves as a director and Chief Development Officer at BPI, bringing over 35 years of broad experience establishing and implementing strategy in the pharmaceutical industry with a focus on early-stage and start-up companies. Since 2015, he has served as President and CEO of Incite Pharmaceuticals and is currently a member of the Board of Directors at Aktiv Pharmaceutical Group. Prior to that, he served as President and CEO of BD Rx, as well as in leadership capacities with multiple pharmaceutical companies, including Wyeth Pharmaceuticals and Abbott Laboratories. Mark has a proven record of leading all functional areas of pharmaceutical operations from early-stage R&D to commercialization. Key accomplishments include the revitalization of and divestiture of a leading generic injectable entity, management of the collaboration that resulted in the first $1.0 billion generic injectable drug, and the creation of a new “Ready-to-Administer” prefilled drug/device company. He holds a Master of Business Administration from Lake Forest Graduate School of Management and a Bachelor of Science in Biochemistry and Biophysics from Texas A&M University.
Jim Pellegrini, Chief Operations Officer
Jim Pellegrini serves as Chief Operations Officer of the Company since February 2023. Bringing 25+ years of experience in pharma and medical device strategy, business development, engineering, and operations. Prior to joining Balanced Pharma, he served as Senior Director—Product Owner (transitional), AmerisourceBergen Inventory Optimization (AIO) at AmerisourceBergen from April 2019 to February 2020. Co-founder, President, and CEO of PharmaSense.io (acquired by AmerisourceBergen) from January 2016 to April 2019 and Senior Manager of BD Rx from December 2013 to January 2016. Pellegrini holds a Master of Business Administration from the Fuqua School of Business at Duke University, a Master of Science in Manufacturing Systems Engineering from Lehigh University, and a Bachelor of Science in Mechanical Engineering from Lehigh University.
Eric Sherb, Chief Financial Officer
Eric Sherb serves as Chief Financial Officer (CFO) of the Company since February 2023. Bringing 13 years of experience in accounting advisory, auditing and mergers and acquisitions. He is a founder of EMS Consulting Services since January 2109 until present and was a senior manager at CFGI from March 2015 to October 2018. He began his career at PricewaterhouseCoopers from July 2008 to January 2013 and has several years’ experience in mid-size audit and consulting firms with clients in a variety of industries. He has extensive experience in financial reporting from pre-revenue startups to large public entities, including bookkeeping, consolidation, financial statement preparation and analysis, management and investor reporting, financial modeling and audit and IPO readiness. Eric has provided technical advisory on complex transactions, including debt/equity financings, business combinations, revenue recognition, lease arrangements, etc. Eric has helped clients establish and improve financial operations, including system implementation, compensation structures and the creation of accounting policies and processes. Eric holds a BBA in Accounting and Finance from Emory University.
