Category Archives: News

FDA Approves Arcutis’ ZORYVE™ (Roflumilast) Cream 0.3% For the Treatment of Plaque Psoriasis in Individuals Age 12 and Older

Frazier Helathcare partners
  • First and only topical PDE4 inhibitor approved for the treatment of plaque psoriasis, including intertriginous psoriasis
  • Approved for once-daily treatment in mild, moderate, and severe plaque psoriasis with no limitations on duration of use
  • Established efficacy – provides rapid clearance of plaques and reduction of itch in all affected areas of the body
  • Safe and very well-tolerated, steroid-free cream with minimal application site reactions
  • Commercial product expected to be available by mid-August
  • Management will host conference call on Monday, August 1 at 8:30 a.m. EDT
  • Arcutis expects to draw an additional $125 million from the Company’s debt facility with SLR Capital Partners

WESTLAKE VILLAGE, Calif., July 29, 2022 (GLOBE NEWSWIRE) — Arcutis Biotherapeutics, Inc. (NASDAQ: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, announced today that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application (NDA) for ZORYVE (roflumilast) cream 0.3% for the treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age or older. The first and only topical phosphodiesterase-4 (PDE4) inhibitor approved for the treatment of plaque psoriasis, ZORYVE provides rapid clearance of psoriasis plaques and reduces itch in all affected areas of the body. ZORYVE — a once-daily, steroid-free cream in a safe and well tolerated, patient-friendly formulation — is uniquely formulated to simplify disease management for people living with plaque psoriasis.

“Today Arcutis has reached a major milestone, with our ability to offer this next generation topical PDE4 inhibitor to both adults and adolescents with plaque psoriasis. ZORYVE’s combination of efficacy, safety, and tolerability, coupled with our proprietary HydroARQ Technology formulation, is designed to fit into patients’ everyday lives with no restrictions on duration of use,” said Frank Watanabe, President and CEO of Arcutis. “Additionally, ZORYVE has been shown to rapidly clear plaques and reduce itch across all areas of the body. ZORYVE is the only topical for which data focused on the treatment of intertriginous plaques — a common area affected by plaque psoriasis — have been specifically generated. This FDA approval is the fruition of our efforts, and we are excited to launch ZORYVE, with expected product availability by mid-August.”

Topical therapies remain the primary treatment option for the vast majority of individuals with plaque psoriasis, a common immune-mediated skin disease that affects approximately nine million people in the U.S. and is the most frequent type of psoriasis occurring in both adults and adolescents. Severity can range between mild, moderate, and severe, with itch being the most burdensome and frequently reported symptom.

While the disease may affect any area of the body, plaques in certain areas, like the face, elbows and knees, genitalia, and intertriginous areas (areas of skin-to-skin contact), present unique treatment challenges. As a result, individuals with psoriasis are often prescribed multiple topical medications for different areas, which makes for a complicated treatment regimen.

“In multiple clinical trials, ZORYVE was proven to be safe and effective, with improvements in disease clearance in hard-to-treat areas like knees and elbows, as well as in sensitive areas such as the face, genitalia, and intertriginous areas. ZORYVE is very well tolerated, which is an important consideration for treating a chronic skin disease such as plaque psoriasis,” said Mark Lebwohl M.D., FAAD, principal investigator and Dean for Clinical Therapeutics and Chairman Emeritus of the Kimberly and Eric J. Waldman Department of Dermatology at the Icahn School of Medicine at Mount Sinai. “With this FDA approval, adults and adolescents with psoriasis and their dermatologists have a new steroid-free treatment option for use on all affected areas of the body.”

ZORYVE features HydroARQ Technology™, a proprietary drug delivery formulation that creates a non-greasy moisturizing cream that spreads easily and absorbs quickly.

“Plaque psoriasis is a challenging disease and finding the right treatment option can be complicated, especially if individuals have to use multiple treatments for different parts of their body. We welcome a new treatment option that can make a meaningful difference for adults and adolescents with plaque psoriasis,” says Leah M. Howard, President and CEO of the National Psoriasis Foundation. “Our hope is that new treatments translate into improved outcomes and help alleviate the burdens of chronic disease for people impacted by psoriasis.”

Arcutis intends to make ZORYVE widely available via key wholesaler and national dermatology pharmacy channels as a new treatment option by mid-August, and the Company is dedicated to affordable access to therapy. The ZORYVE Direct patient support program will help commercially insured individuals with plaque psoriasis get access and start ZORYVE treatment as prescribed by their healthcare provider quickly and easily by helping them navigate the payer process, lowering the out-of-pocket cost for eligible patients, and offering programs that support staying on therapy.† Arcutis will also offer the Arcutis Cares patient assistance program (PAP) – the first of its kind for a topical psoriasis treatment – that will provide ZORYVE at no cost for financially eligible patients who are uninsured or underinsured.‡

With this approval, Arcutis has access to, and plans to draw, an additional $125 million tranche as part of the Company’s non-dilutive financing agreement with SLR Capital Partners. Combined with the Company’s cash, cash equivalents, restricted cash, and marketable securities as of June 30, 2022, this additional $125 million will provide for capital resources of over $400 million to support the launch and commercialization efforts for ZORYVE, as well as continue to advance the Company’s pipeline development initiatives.

Management will host a conference call on Monday, August 1 at 8:30 a.m. EDT. Dial-in information for conference participants may be obtained by registering for the event here. A live webcast of the call and presentation material will be available on the “Events” section of the Company’s Investor website. An archived version of the webcast will be available on the Arcutis website after the call.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

ZORYVE Clinical Data

The approval is based on comprehensive results from the pivotal DERMIS-1 and DERMIS-2 (trials of PDE4 inhibition with Roflumilast for the Management of plaque psoriasIS One and Two) Phase 3 studies. In these trials, significantly more patients treated with ZORYVE achieved Investigator Global Assessment (IGA) success at Week 8 compared to vehicle (42% in DERMIS-1 and 37% in DERMIS-2 with ZORYVE compared to 6% in DERMIS-1 and 7% in DERMIS-2 with vehicle (P<0.0001 in both studies)). IGA success is defined as an IGA score of clear (0) or almost clear (1), plus a ≥2-grade IGA score improvement from baseline.

ZORYVE improved the severity and impact of itch, as early as Week 2. Two-thirds of patients with a Worst Itch-Numerical Rating Score (WI-NRS) of 4 or higher at baseline achieved a > 4-point reduction in itch at Week 8 with ZORYVE (67% vs. 26% in DERMIS-1 and 69% vs. 33% in DERMIS-2 at Week 8 (P<0.0001)).

ZORYVE is the only topical for which efficacy has been specifically demonstrated in the treatment of intertriginous psoriasis, as measured by Intertriginous IGA (I-IGA) Success (72% vs. 14% in DERMIS-1 and 68% vs. 17% in DERMIS-2 at Week 8 (P<0.0001)).

In both trials, ZORYVE was very well-tolerated with a favorable safety and tolerability profile. The most common adverse reactions reported in DERMIS-1 and -2 (≥1% of subjects treated with ZORYVE for 8 weeks), and for which the rate exceeded the rate for vehicle-treated patients, included diarrhea (3%), headache (2%), insomnia (1%), nausea (1%), application site pain (1%), upper respiratory tract infection (1%), and urinary tract infection (1%).

Of 239 individuals who continued treatment with ZORYVE for at least 52 weeks in an open-label long-term safety trial, 45% were evaluated as an IGA of “Clear” or “Almost Clear” at Week 52.

ZORYVE also demonstrated statistically significant improvements over vehicle on key secondary endpoints, including Psoriasis Area Severity Index-75 (PASI-75), and patient perceptions of signs and symptoms, such as itching, pain, and scaling, as measured by the Psoriasis Symptoms Diary (PSD). In both studies, ZORYVE improved overall signs and symptoms of psoriasis at Weeks 4 and 8 compared to vehicle.

Dr. Lebwohl reports receiving grant support and consulting fees from Arcutis Biotherapeutics.

About Psoriasis
Psoriasis is a common, non-contagious, immune-mediated skin disease that affects approximately nine million people in the United States. The majority of individuals with psoriasis develop “plaques,” or raised, red areas of skin covered with a silver or white layer of dead skin cells. The plaques’ clinical presentation may have more grayish, purplish, or brownish tones in people with darker skin tones. Psoriatic plaques are often itchy and sometimes painful and can appear on any area of the body. Plaques in certain anatomical areas present unique treatment challenges, including the face, elbows and knees, scalp, and intertriginous areas (where two skin areas may touch or rub together).

INDICATION

ZORYVE is indicated for topical treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age and older.

IMPORTANT SAFETY INFORMATION

The use of ZORYVE is contraindicated in patients with moderate to severe liver impairment (Child-Pugh B or C).

The most common adverse reactions (≥1%) include diarrhea (3%), headache (2%), insomnia (1%), nausea (1%), application site pain (1%), upper respiratory tract infection (1%), and urinary tract infection (1%).

Please see full Prescribing Information.

About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including plaque psoriasis, atopic dermatitis, and seborrheic dermatitis. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, and Twitter.

Forward-Looking Statements
Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential for ZORYVE to simplify disease management for care of plaque psoriasis; the Company’s expected timing and plan to commercially launch ZORYVE by mid-August; and the Company’s plan to draw down on its loan agreement. These statements are subject to substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in our business, conditions limiting our ability to access additional capital under our debt financing agreement, the impact of competition and other important factors discussed in the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 22, 2022, as amended, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contacts:

Media
Amanda Sheldon, Head of Corporate Communications
asheldon@arcutis.com

Investors
Eric McIntyre, Head of Investor Relations
emcintyre@arcutis.com

† *Uninsured patients and patients with government insurance are not eligible for the ZORYVE Direct savings program; Other terms and restrictions apply

‡ Subject to financial eligibility requirements. Other terms and restrictions apply

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Ardian, Groupe Casino, Tikehau Capital and Bpifrance to sign an agreement for Ardian to acquire a majority stake in GreenYellow

Ardian

Ardian, a world-leading private investment house, announced today that it has entered into an agreement with Groupe Casino, Bpifrance and Tikehau Capital to acquire a majority stake in GreenYellow, a French pioneer in decentralized energy, serving the energy transition of its customers in France and abroad.  The transaction values the company at €1.4 billion. Casino Group, Bpifrance and Tikehau Capital have reinvested alongside Ardian.

GreenYellow was founded within the Casino Group in 2007, with the aim of accelerating the low-carbon trajectory of large companies around the world. Since its inception, the company has been led by Otmane Hajji (President) and Philippe Houins (Chief Officer in charge of Operations).

GreenYellow offers a complete range of services to help companies make the transition to greener and more efficient energy solutions. The company provides access to low-cost green energy and helps companies optimize their energy consumption.

In 2018, Tikehau Capital and Bpifrance invested € 150 million in GreenYellow to support its development. Today as a market leader, GreenYellow has experienced strong growth and now operates in more than 15 countries on four continents.

Ardian has deep experience in the renewable energy sector, with more than 7.5 GW installed worldwide, as well as in new technologies such as battery storage and green hydrogen. It will use its expertise to provide GreenYellow and its management team with the necessary resources to support its ambitious development plan.

As part of the transaction, the Casino Group, incubator and reference shareholder of GreenYellow since 2007, will retain a minority stake and will remain a leading business partner for the company. Similarly, BPI and Tikehau, who became shareholders in 2018 when they identified GreenYellow’s growth potential, will reinvest part of their proceeds in the company. Ardian’s and the historical shareholders’ plan also includes the participation of the management team and all employees in the capital.

“The quality of GreenYellow’s managers and teams, and the company’s positioning at the heart of the energy transition issues have convinced us. We are certain that the decentralized energy production and energy efficiency solutions proposed by GreenYellow will play a key role in achieving the decarbonization and energy sobriety objectives of companies and communities. We are looking forward to supporting GreenYellow, the French leader in the sector, in its development prospects in France and internationally alongside its historical shareholders, namely the Casino Group, Tikehau Capital and Bpifrance, with whom we share the same ambitions.” Mathias Burghardt, Member of the Ardian Executive Committee and Head of Ardian Infrastructure

“GreenYellow was one of our first investments of our private equity strategy dedicated to the energy transition launched in 2018, and which has invested €900 million in 10 leading European SMEs and ETIs in the sector since then. Thanks to the investments made, in 4 years GreenYellow has strengthened its leadership position in its core markets. With its robust platform, we are confident that GreenYellow will continue its growth path. We share the strategic vision of its management team and look forward to reinvesting to support them in their next phase of development.” Emmanuel Laillier, Head of Private Equity at Tikehau Capital

“Bpifrance, is thrilled to continue to support the company in this new phase of development with Ardian. Since our investment in 2018, the company has grown strongly and has succeeded in consolidating its position as the French leader in the decentralized energy production and energy efficiency market, thanks to its cross-functional expertise and its capacity for innovation. Supporting GreenYellow, a leading player in renewable energies, is fully in line with our Climate Bank strategy.” Charles-Henri Boyer, Head of Participations at BPIFrance

The proposed transaction is subject to a consultation process with the relevant employee representative bodies. It is expected to be completed in the fourth quarter of 2022, subject to regulatory approvals for merger control and foreign investments.

ABOUT GREENYELLOW

In 15 years, GreenYellow has become a major player in the energy transition in France and abroad and a true ally of companies and communities in this field. As an expert in decentralized solar photovoltaic production, energy efficiency projects and energy services, GreenYellow offers its customers a unique and global platform to make their energy transition a beneficial and committed reality. Operating in 16 countries on 4 continents, GreenYellow is constantly enriching its offer, through innovation, to meet the needs of private and public actors and accompany them in reducing their ecological footprint.

fr.greenyellow.com/fr

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

ABOUT GROUPE CASINO

The Casino Group is a key player in the French retail market and a leader in the global food retail market, with nearly 11,000 stores worldwide (France and Latin America).
The Group has built up a portfolio of solid, dynamic and complementary brands thanks to a workforce of more than 200,000 people driven by their passion for retail and customer service, and generated net sales of €31.9 billion in 2020. In all the countries where it operates, the Casino Group is focusing its development on the formats with the highest potential and on its ability to adapt in order to meet the needs of its customers, today and tomorrow.

www.groupe-casino.fr

ABOUT TIKEHAU CAPITAL

Tikehau Capital is a global alternative asset management group with €35.5 billion of assets under management (as of March 31, 2022). Tikehau Capital has developed a broad range of expertise in four asset classes (private debt, real assets, private equity, capital markets strategies) as well as strategies focused on multi-asset solutions and special situations. Led by its co-founders, Tikehau Capital has a differentiating business model, a strong balance sheet, privileged access to global transaction opportunities, and a solid track record in supporting high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides innovative and tailored alternative financing solutions to the companies it invests in, and strives to create long-term value for its investors while generating a positive impact on society. Backed by substantial equity capital (€3 billion as of December 31, 2021), the Group invests its capital alongside its investor-clients in each of its strategies. Controlled by its management, alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 723 employees (as of March 31, 2022) spread across its 13 offices in Europe, Asia and North America. Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)

www.tikehaucapital.com

ABOUT BPIFRANCE

Bpifrance’s equity investments are made by Bpifrance Investissement. Bpifrance finances companies – at every stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and ETIs are also part of the offer proposed to entrepreneurs.
Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, single and efficient contact to help them face their challenges.
Follow us on Twitter : @Bpifrance – @BpifrancePresse

www.bpifrance.fr

Press contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com  

TIKEHAU CAPITAL

Valérie Sueur

+33 1 40 06 39 30

IMAGE 7 Florence Coupry & Juliette Mouraret

press@tikehaucapital.com +33 1 53 70 74 70

BPI FRANCE

Sophie Santandrea

sophie.santandrea@bpifrance.fr +33 7 88 09 28 17

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IK Partners enters exclusive negotiations to sell Exxelia to HEICO

IK Partners

IK Partners (“IK”) is pleased to announce that an affiliate of the IK VII Fund (“IK VII”) has entered into a put option agreement to sell its stake in Exxelia (“the Company”) to global aerospace business HEICO Corporation (NYSE: HEI and HEI.A) (“HEICO”).

Founded in 2009 from the merger of five long-established companies and headquartered in Paris, France, Exxelia is a leading manufacturer of complex passive components and precision subsystems for niche highly demanding industrial markets (defence, space, aviation, energy, transport, medical and telecommunications) where product reliability and superior performance is of utmost importance. Exxelia is recognised for its ability to design standard and custom products meeting complex technical specifications and the most stringent qualification procedures.

The Company operates from 11 manufacturing sites with more than 2,100 employees and serves blue-chip customers in more than 50 countries. It offers a comprehensive product range (capacitors, inductors, resistors, filters, position sensors and rotary joints) embedded into many programmes in partnership with its blue-chip customer base.

Since IK investment in Exxelia in 2015, the Company has successfully executed its strategic agenda, implementing an ambitious operational transformation plan and expanding its product portfolio and geographical reach through M&A. With the support of its new shareholder, Exxelia will be able to strengthen its operational excellence and innovation capabilities, pursue its international organic and M&A growth strategy and accelerate its development.

Paul Maisonnier, CEO of Exxelia, commented: “We are excited to embark on a new stage of development with HEICO. We really appreciate the values of the Mendelson Family, which match perfectly those of Exxelia. Our goal to develop Exxelia into a world leader in Hi-Rel passive components and sub-systems for harsh environments, serving the aeronautic, defence, space and medical markets will be accelerated under the Heico umbrella. Together we will strengthen our innovation and operational capabilities and accelerate our internationalisation strategy. We thank IK for their support over the past years, which has enabled us to establish a solid platform to support our ambitions for global growth.”

Dan Soudry, Managing Partner at IK Partners and Advisor to the IK VII Fund, and Diki Korniloff, Partner at IK Partners, added: “As shareholders of Exxelia since 2015, we are very pleased to have been able to support its very talented management team through the various stages of transformation, structuring and growth of the Company, doubling its employee base to more than 2,100 people and leading to a strong increase in investment in R&D and in its manufacturing footprint. We’d like to take this opportunity to wish the team and HEICO all the very best for the future.”

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with Victor H. Mendelson, HEICO’s Co-President and CEO of its Electronic Technologies Group, commented: “We are ecstatic that such a fine company, with its remarkable team members, management and products, will be part of HEICO and we look forward to welcoming them to the HEICO family. While furthering HEICO’s strategy of expanding our already impressive range of mission-critical and high-reliability components for the most demanding applications, Exxelia also provides HEICO with added broad geographic and product diversity, including in the important European market.”

Following consultation of employee representative bodies, completion of the transaction would be subject to antitrust and regulatory approvals, notably in France.

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

About Exxelia

Exxelia was born from the merger of five long-established companies with complementary know-how (Eurofarad, Firadec, Sic Safco, Microspire et Astema) then joined by Temex, Dearborn, N’Ergy, Raf Tabtronics, DeYoung, Micropen and Alcon Electronics. Exxelia is a manufacturer of complex passive components and innovative subsystems, designed to withstand severe environments. Exxelia’s products are mainly used in power electronics, energy generation and storage, filtering and signal processing. Exxelia operates in advanced industrial markets such as defence, space, aviation, energy, transport, medical and telecommunications. Exxelia employs approximately 2,100 people and is expected to generate approximately €190 million in revenue in FY 2022.
https://exxelia.com/en/

About HEICO

HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to the aviation, defence, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defence and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at www.heico.com

Categories: News

CD&R to acquire Atalian and OCS to form a Global Facilities Management Platform

Clayton Dubilier Rice

Platform Forged with Two Leading Family-Owned Businesses

Atalian OCS Logo
Thursday, July 28, 2022
London and New York

Clayton, Dubilier & Rice (“CD&R”) announced agreements under which CD&R Fund XI and affiliates will acquire the Facilities Services business of OCS Group (“OCS”) and have made a binding and irrevocable offer to acquire Atalian, approval of which is subject to the information and consultation requirements of its works councils. The transactions will create a global facilities management (“FM”) platform centered around two leading family-owned businesses.

The platform will be a global FM player with a leading presence in Europe and Asia-Pacific across cleaning, security, catering, and multi-technical services, among others.

“We are excited by the opportunities that the creation of this platform represents,” said Christian Rochat, CD&R Partner. “Both companies operate in established markets with steady long-term trends. They fit well together with similar values and customer-focused philosophies. We look forward to supporting the teams in developing a leading FM platform with an enhanced customer proposition, drive growth and operating excellence.”

The acquisitions are subject to the above-mentioned conditions and clearance from the relevant regulatory authorities. They are expected to be completed in the second half of 2022.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $40 billion in more than 100 companies with an aggregate transaction value of more than $175 billion. The Firm has offices in New York and London. For more information, please visit www.cdr-inc.com.

About Atalian
Atalian is one of the world leaders in Facility Management. An independent company established across four continents, Atalian supports organisations in the outsourcing of services for buildings. The company offers cleaning, catering, security, and other building services. Atalian operates in the most diverse business sectors and environments with a global and integrated range of services that meet the highest requirements. For more information, please visit atalian.com.

About OCS Facilities Services
OCS delivers critical and essential services to support more than 20,000 customers to keep their businesses running 24 hours a day. From offices and hospitals to stadiums and retail parks, to manufacturing plants, airports and courtrooms, OCS protects assets and people, delivering services to customers across multiple sectors in communities every day. 68,000 colleagues expertly deliver an essential and comprehensive range of facilities management services internationally, including in the UK, Ireland, Middle East, India, Thailand, Malaysia, Australia, New Zealand, Cambodia and Bangladesh. For more information, please visit www.ocs.com.

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Oakley capital agrees partial exit from Seedtag

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Oakley Capital Origin Fund (“Origin”) has reached an agreement to sell part of its stake in Seedtag to private equity investor Advent International (“Advent”).

Seedtag

Founded by Jorge Poyatos and Albert Nieto in Madrid in 2014, Seedtag is the leader in contextual advertising in EMEA and LATAM.

Seedtag
Seedtag – The leading contextual advertising platform in Europe and LATAM.

The Company helps brands and agencies deliver digital advertising that is directly relevant to the content that readers are consuming, meeting growing market demand for cookie-less solutions that protect brands and prioritise consumer privacy.

Oakley Capital

Oakley leveraged its deep media expertise and strong track record growing digital businesses to invest in Seedtag in 2021, attracted by its proprietary AI technology and entrepreneurial team, and in order to support the company’s international expansion.

Since 2021, Oakley has supported Seedtag’s launch into North America as well as the strategic acquisition of KMTX (previously Keymantics), a leading French company specialised in building AI models to optimise and automate performance marketing campaigns.

During Oakley’s ownership, Seedtag has grown revenues and earnings significantly ahead of forecast.

Quote Jorge Poyatos and Albert Nieto

In partnership with Oakley, we have made strong progress in our business plan, driving top-line growth, pursuing strategic acquisitions and further professionalising the business. We see tremendous opportunity to grow Seedtag further as profound changes in the advertising industry drive demand for our contextual advertising services that enhance both brand awareness and security. We look forward to partnering with Advent and Oakley to take full advantage of these opportunities.

Jorge Poyatos and Albert Nieto

Co-Founders and Co-CEOs — Seedtag

Quote Peter Dubens

What first attracted us to invest behind Seedtag were two highly ambitious, ex-Google entrepreneurs with a vision to create a leader in advertising technology, and a market-leading product that addressed the increasing focus on consumer privacy. This is a terrific combination that has delivered strong outcomes. We are pleased to continue our partnership with Jorge and Albert, and welcome Advent as together we position the company for the next stage of its growth plan. Seedtag remains Oakley’s third platform investment in Iberia, a cornerstone region for the firm, alongside market-leading property portal idealista and business software provider Grupo Primavera.

Peter Dubens

Managing Partner — Oakley Capital

Advent International

Partnering with Advent will enable Seedtag to leverage its significant expertise in marketing and data, accelerate its expansion into the US, the world’s largest advertising market, as well as provide additional firepower for additional M&A and investment in the company’s contextual product suite.

Jorge Poyatos and Albert Nieto will continue to lead Seedtag from both its Spanish and US headquarters.

Seedtag has established itself as a leading player in Europe and Latin America in the very dynamic contextual advertising sector. We are delighted to partner with Jorge and Albert as they continue to build on this momentum. With our international presence and deep sector expertise, Advent will work with the Seedtag management team to further expand the business internationally. We look forward to supporting this hugely exciting business to grow and scale-up and to taking it to the next level.

Gonzalo Santos

Managing Director and Head of Spain — Advent International

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Riverside in a Class of Its Own

Riverside
News Release July 26, 2022

The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Rockpointe, Inc. (Rockpointe), a premier healthcare education company. Rockpointe is a provider of accredited continuing education activities and related training for healthcare professionals. The acquisition is an add-on to Riverside’s portfolio company Clinical Education Alliance (CEA).

Rockpointe develops educational materials that are delivered either virtually or in-person and primarily generates revenue through grants from customers such as pharmaceutical sponsors, with no cost to training attendees. The company’s multi-channel offerings include regional events, online education and webinars across high-science therapeutic areas including oncology, immunology, infectious diseases, and cardiology.

“We are delighted to join forces with the leadership team at Rockpointe,” said Riverside Capital Appreciation Fund (RCAF) Co-Chief Investment Officer Peter Tsang. “This company brings a strong Primary Care audience – an area that CEA has been looking to expand into – as well as added scale in high-growth, high-science therapeutic areas.”

The acquisition of Rockpointe is the second add-on for Riverside’s CEA platform, following the purchase of MDOutlook, a provider of precision intelligence solutions that help life sciences companies develop and commercialise therapeutics and diagnostics in oncology, in July 2021.

This is one more example of Riverside’s dedication to its Education & Training and Healthcare specializations. The firm has invested in more than 270 platform and add-on companies in these two sectors since 1988 as part of its private equity and structured capital strategies.

“Rockpointe has significant scientific talent, new supporter and association relationships, and new service and product offerings,” said Riverside Vice President Mark Fishman. “We believe this investment will be highly accretive for CEA and enhance our ability to positively impact patient lives.”

Riverside invested in CEA, a provider of interactive live and web-based certified continuing medical education activities and related training for healthcare professionals, in December 2020, with a plan to expand its range of therapeutic areas and end user base, diversify its service offering outside of grant-funded CME training, and improve the company’s technology offering.

“We are thrilled to join CEA. This union provides our healthcare professional network with expanded educational content and access to the industry-leading learning and content portal. We look forward to extending our educational reach globally within the CEA network. It is a natural fit that supports our mission of providing education to improve patient outcomes,” said Tom Sullivan, Chief Executive Officer of Rockpointe.

Working alongside Tsang and Fishman on the investment for Riverside were Partner Jason Fulton, Associate Abeer Irfan, Associate Peter Muncey, Operating Partner J.P. Fingado. Operating Finance Executive David Kralic and Capital Markets Senior Partner Anne Hayes. Regional Director Origination, Will Davis, sourced the investment for Riverside.

Muellerholly BKG 300X450 Holly Mueller Consultant, Global Marketing and Communications Cleveland +1 216 535 2236

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Oakley Capital agrees strategic combination of Grupo Primavera with Cegid

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Oakley Capital Fund III (“Fund III”) has agreed the strategic combination of Grupo Primavera, the leading business software provider in Iberia, with Cegid, a leading provider of cloud-based management solutions.

Grupo Primavera News 2

As part of the transaction, Fund III will increase its stake in Grupo Primavera and roll over its equity into Cegid. The all-share transaction values the combined company at approximately €6.8 billion.

Oakley acquired Ekon as a standalone platform in 2019, and assembled a group management team to lead an intensive buy and build strategy. With that team Oakley acquired 11 further companies, including the transformative acquisition of Primavera in 2021, to form the newly enlarged Grupo Primavera.

Through acquisitions as well as investment in product innovation and talent, Grupo Primavera has performed well ahead of its business plan, becoming Iberia’s largest software platform in just three years.

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Grupo Primavera has 800 employees based in five countries

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Serves 165k paying customers

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Delivered €76 million of revenue in 2021

Grupo Primavera

Today, Grupo Primavera has 800 employees based in five countries, serves 165,000 paying customers, and delivered €76 million of revenue in 2021.

The company offers a wide range of cloud-based software solutions covering Invoicing, Accounting, and Enterprise Resource Planning (ERP). These offerings serve small businesses and mid-market segments across Spain, Portugal, and Africa, with a particularly strong footprint among accounting professionals. Together, Grupo Primavera and Cegid will have pro forma revenue in the Iberia region of more than €150 million this year.

Quote Santiago Solanas

We are strongly aligned with Cegid’s vision and ambition and have long admired the company. Like Cegid, we have an entrepreneurial and passionate culture with a focus on product excellence, a commitment to customers, and an exciting vision for growth. This is a powerful partnership that will allow us to combine resources and expertise, bringing customers new products and continued innovation, as well as building on our proven track record to expand and integrate new talent and approaches to market needs. Both Cegid and Grupo Primavera share a mission to grow our ecosystem and to offer our combined customers, channel partners, colleagues, and communities renewed value.

Santiago Solanas

CEO — Grupo Primavera

Quote Peter Dubens

In partnership with Oakley, Grupo Primavera has grown to become a leading player in the Iberian market for business software. Now under the stewardship of both highly experienced management teams and committed shareholders, Cegid and Grupo Primavera are poised to accelerate a global growth strategy with a focus on market expansion and cross sell opportunities. We look forward to being a part of this new chapter for both companies and the significant potential that lies ahead.

Peter Dubens

Managing Partner — Oakley Capital

Cegid

Cegid is a global leading provider of cloud business management solutions for finance (treasury, tax, ERP), human resources (payroll, talent management), CPAs, retail and entrepreneurial sectors.

With 350,000 clients, the business is focused on large and SMB customers, operating in 130 countries across the globe and its installed base is already close to fully migrated to Cloud. Cegid has a strong track record of double-digit organic growth with a high proportion of recurring revenues, underpinned by the SaaS transition of its customer base and new client acquisitions in the Cloud, and investments in next-generation cloud products.

Joining forces with Grupo Primavera is an immense opportunity for both companies and our respective clients. Like Cegid, Grupo Primavera offers useful and innovative solutions to partners and customers in the cloud, and has achieved impressive growth specifically across Spain, Portugal, and Africa. We share an inspiring vision for the future driven by continuous product and technology innovation, and Cegid is fully committed to investing in the combined company’s continued growth. We look forward to working closely with Santiago and the talented team at Grupo Primavera to bring value to a more global customer base.

Pascal Houillon

CEO — Cegid

The combination of Cegid and Grupo Primavera underscores Cegid’s position as a leading provider of cloud-based management solutions.

The addition of Grupo Primavera firmly establishes Cegid’s leadership in Iberia and offers exciting expansion opportunities for Grupo Primavera by leveraging Cegid’s presence in Latin America.

Upon close, Silver Lake will remain the majority shareholder of the combined company. Oakley Capital will join KKR and AltaOne as minority shareholders in the combined company. Together, these shareholders will partner with Cegid CEO Pascal Houillon, Grupo Primavera CEO Santiago Solanas, and the rest of the management team in Cegid’s next phase of growth.

Through our investment and strategic development executed since 2016, Cegid has become a pan European and global player with strong positions in multiple geographies including France, Spain, and Portugal, with important market presence in 12 other countries and selling in more than 130 countries. We are excited about the growth prospects of the combined group and by the creation of the Iberian market leader in the business software space, reinforcing Cegid’s existing position on a broader global scale. The market for digitisation solutions in the European mid-market, namely through financial management software, is large and growing meaningfully, and the combined company will be uniquely positioned to capitalize on this opportunity as it continues to expand.

Christian Lucas

Co-head — Silver Lake EMEA / Vice-Chairman of the Board of Directors — Cegid

Upon closing of the transaction, Mr. Solanas and his entire management team will join Cegid, with Mr. Solanas reporting directly to Mr. Houillon.

The transaction is expected to close in Q3 2022, and as is customary, remains subject to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws.

Oakley was advised by Evercore (M&A), PWC (financial & tax), Paul Hastings and Uría Menéndez (legal).

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First acquisition for Waterland investment LionsHome: Fashiola strengthens leading commerce content platform

Waterland

LionsHome, operator of one of Europe’s leading product comparison platforms in the home & living vertical, realizes its first growth partnership in cooperation with investment group Waterland Private Equity. In February 2022, Waterland acquired a majority stake in the Berlin-based group. The current acquisition of Fashiola forms a cornerstone of a long-term buy-&-build strategy to establish LionsHome as a leading, pan-European commerce content group and already brings the group up to more than 100 million visits per year. The seller of the stake is online classifieds company Lifull Connect; its current Head of Tech, Javier Pérez, as well as Head of Operations, Macarena Quinzaños, will continue to lead the company in the future. Further financial details of the transaction will not be disclosed.

Fashiola and its Dutch sister-brand Kleding.nl were founded in 2012. The company aggregates the online offering of a wide range of leading fashion brands into a unique product comparison platform, enabling its customers to quickly and easily discover and compare high-quality clothing, footwear as well as accessories. Today, the company is active in more than 20 countries, and with more than 60 million visits per year it is one of the leading international product comparison platforms in the fashion sector.

LionsHome GmbH was founded in 2014 by Christoph Königer and Michael Röcker in Berlin and is currently active in ten countries. With about 40 million visits per year, LionsHome is one of the leading product comparison platforms in the European home & living vertical. In addition to household and office furniture, LionsHome also offers a wide range of accessories, decorative items, lamps, garden furniture and much more.

In February 2022, Waterland entered a partnership with LionsHome and initiated a long-term growth campaign. The acquisition of Fashiola now marks the first strategic cornerstone for developing LionsHome into a comprehensive commerce content platform, which aggregates a wide range of digital publishing models under one umbrella. In addition to the existing focus on the home & living vertical, the partnership with Fashiola drives the expansion of LionsHome into its second e-commerce vertical: fashion and accessories.

“We are very pleased to welcome Fashiola into the LionsHome group. With this acquisition, we are not only able to realize our first add-on within a very short timeframe. Combining our strengths and using them to expand our second e-commerce verticals at an international scale also marks a significant milestone of our growth journey”, says LionsHome CEO Michael Roecker.

“Fashiola has recorded monumental growth over the past two years. Having worked directly with the team during this time, I could not be prouder of their accomplishments,” Mauricio Silber, CEO LIFULL Connect, explains. “The most exciting aspect is the fact Fashiola is only beginning to reach its full potential. However, fashion is not part of our core strategy at LIFULL Connect, so it was hugely important for us to find a partner who could help the brand continue its promising trajectory. LionsHome was a perfect match in that regard.”

“With a very ambitious team, LionsHome is already today one of the leading and fastest-growing product comparison platforms in the European home & living vertical. The partnership with Fashiola, which is an international leader for product comparison in the fashion industry, is a cornerstone for LionsHome to build a digital publishing platform focused on commerce content.”, says Dr. Carsten Rahlfs, Managing Partner at Waterland.

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Stairlift producer Otolift brings investor NPM Capital on board

NPM Capital

Bergambacht, Koninklijke Otolift Trapliften, the Dutch market leader in the development, production, installation and maintenance of stairlifts, has reached an agreement with investment company NPM Capital to welcome them as a new shareholder. The family business, which was founded in 1891 and is currently led by its fourth generation, will bring a new family on board with NPM Capital, part of the multinational and family-owned company SHV.

With this transaction, Otolift does not only secure its shareholder base for the long term: the company will also be empowered to accelerate its current international expansion strategy and its growth in designated export markets. The family business exports stairlifts to 48 countries through its expansive dealership network and has multiple offices in the Netherlands, as well as local sales offices in Belgium, France, Italy, Spain, and the United Kingdom.

Over the last few years, Otolift benefitted from elevated sales and rentals of new and secondhand stairlifts. Under the leadership of the current Board, consisting of Jan Otto, André and Alex Ooms (the great grandchildren of founder Otto Ooms), Otolift grew into a significant European player with a total annual revenue of over €150M in 2021. Spread out over the company headquarters and the 15,000 square metre production hall in Bergambacht, the Netherlands, a second production site in Slovakia, and the company’s various daughter companies, the family business now employs approximately 700 people. In addition, the company has an expansive European service network: within the Netherlands alone, over 110 mechanics are on call to provide 24/7 service.

Otolift sees opportunities for growth in international markets, which can be capitalised on by opening new sales offices, among other things. Achieving this growth also requires further professionalisation of the business. “We believe we will be able to take this step faster, better, and more easily with an external investor on board. NPM Capital has the means, the knowhow, the long-term vision and the commitment to bring Otolift to a new stage of growth. The fact that NPM understands the dynamics of a family business is very appealing to us. NPM has a great deal of experience supporting companies of our type and size, with similar potential and growth ambitions. And they are familiar with the complexity and professionalisation efforts involved with that,” said the three Ooms brothers in a shared statement.

Innovative
Otolift is known to be very innovative. The company was the first to use production techniques like CNC-controlled lathes, robots, and lasers. Otolift developed its own app in-house, enabling sales consultants to accurately measure – down to the millimetre – any staircase within twenty minutes. A built-in Augmented Reality (AR) option then shows the customer precisely how the stairlift would look once installed. In 2016, the company launched the Otolift Modul-Air, a fully modular stairlift that enabled significant reductions of lead times. The rail is also unique: it is the most slender single rail in the world.

Otolift has won several awards in recent years, including the Smart Manufacturing Award and the Red Dot Design Award for the design of its stairlift.

Rutger Ruigrok, Managing Director of NPM Capital commented: “We consider the quality, sustainability and reusability of Otolift’s stairlifts to be major assets for the further growth of the business. Otolift is very accessible to end users as well, thanks to its short delivery times and its stairlifts’ compatibility with any type of staircase. This investment aligns perfectly with our strategic investment theme ‘Healthy Life’. As stairlifts enable growing numbers of people to live an independent life in their own homes and in their familiar environments for a longer time. We are impressed by the knowledge, expertise and engagement of Otolift’s teams and we look forward to working with them to help the company achieve further growth.”

The closing of the planned transaction is subject to the usual conditions applicable to transactions of this nature. The parties involved will not disclose any financial details of the acquisition.

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EQT Life Sciences announces its portfolio company NewAmsterdam Pharma going public

eqt

Leading institutional investors commit $235 million through an oversubscribed and upsized private investment in public equity (“PIPE”) led by Frazier Healthcare Partners and Bain Capital Life Sciences.

Total proceeds expected to bring pro forma cash balance to at least $470 million; expected to extend cash runway of NewAmsterdam through 2026, funding all expected pre-approval milestones for lead candidate obicetrapib, including readouts of Phase 3 PREVAIL study, a global cardiovascular outcomes trial (“CVOT”) and two other pivotal Phase 3 studies.

NewAmsterdam’s lead therapeutic candidate, obicetrapib, is a next-generation oral, low-dose and once-daily CETP inhibitor for which promising safety and >50% LDL-lowering efficacy has been observed on top of high-intensity statins in patients with dyslipidemia through Phase 2b, which could potentially serve a global population of over 30 million patients with unmet medical need in cardiovascular disease.

NewAmsterdam shareholders, Frazier Lifesciences Acquisition Corporation (Nasdaq: FLAC) shareholders and PIPE investors will hold ordinary shares in a newly formed company, NewAmsterdam Pharma Company N.V., which is expected to list its ordinary shares on Nasdaq under the ticker “NAMS”.

Merger expected to be completed in the second half of 2022.

EQT Life Sciences is happy to announce that its portfolio company NewAmsterdam Pharma Holding B.V. is entering into a merger agreement with Frazier Lifesciences Acquisition Corporation to create a publicly listed company focused on transformative oral therapies for major cardiometabolic diseases.

NewAmsterdam Pharma Holding B.V. (“Company”), a late clinical-stage company focused on the research and development of transformative oral therapies for major cardiometabolic diseases, and Frazier Lifesciences Acquisition Corporation (“FLAC”), a special purpose acquisition company sponsored by an affiliate of Frazier Healthcare Partners, today announced that they have entered into a definitive business combination agreement. Upon closing of the transaction, a newly formed holding company, NewAmsterdam Pharma Company N.V. (“NewAmsterdam”) will be led by Michael Davidson, M.D., Chief Executive Officer of the Company. NewAmsterdam’s ordinary shares are expected to be listed on Nasdaq under the ticker symbol “NAMS.”

NewAmsterdam is expected to receive approximately $235 million from an upsized and oversubscribed PIPE at $10.00 per share plus funds held in FLAC’s trust account following any redemptions. The PIPE was upsized from the initial target of $100 million due to significant investor demand. The PIPE was co-led by Frazier Healthcare Partners and Bain Capital Life Sciences, and includes new investors RA Capital Management, GMT Capital, Medicxi Ventures, Panacea Venture and other institutional investors, in addition to existing NewAmsterdam shareholders Forbion, LSP Dementia Fund and Morningside Ventures. The proceeds from this transaction, combined with the upfront payment of $123 million (€115 million) received from NewAmsterdam’s recently announced licensing agreement with the Menarini Group and NewAmsterdam’s existing cash and cash equivalents, would bring NewAmsterdam’s total pro forma cash balance to at least $470 million, which the Company believes would be sufficient to fund operations through 2026, beyond the readout of NewAmsterdam’s Phase 3 PREVAIL CVOT study and two other pivotal Phase 3 studies.

The transaction is expected to close in the second half of 2022, subject to approval by FLAC’s shareholders and the satisfaction or waiver of certain other customary closing conditions. The Boards of Directors of both the Company and FLAC have unanimously approved the transaction. Following the close of the transaction, James Topper, M.D., Ph.D., Managing Partner at Frazier Healthcare Partners and Chairman of the Board of Directors and Chief Executive Officer of FLAC, and Nicholas Downing, M.D., Principal at Bain Capital Life Sciences, will join the NewAmsterdam Board of Directors.

“Today’s announcement marks a major milestone for NewAmsterdam. We believe that the transaction, if consummated, would provide us with the necessary capital to fund our business through 2026 and beyond multiple Phase 3 data readouts for obicetrapib, including our ongoing cardiovascular outcomes trial, and a potential global product launch,” said Dr. Davidson. “Cardiovascular disease remains a significant unmet need and is the number one cause of death in western countries, with high LDL levels being the chief culprit responsible for adverse outcomes and two-thirds of patients not reaching LDL goals despite the wide availability of statins. Adding a potential new convenient oral therapy that has been observed to confer an additional 51% of LDL-lowering on top of high dose statins could transform the treatment paradigm for this large patient population. We are grateful to the FLAC team, as well as our new and existing investors, for their support throughout this transaction and look forward to a continued partnership as we mature into a publicly traded company and pursue our mission of improving patient care globally for this large patient population with substantial unmet need despite existing therapies.”

“We founded FLAC in hopes of acquiring a therapeutics-focused company with near-term inflection points, experienced and highly credentialed leadership and sufficient capital to support planned operations well into the future,” said James Topper, M.D., Ph.D., Managing Partner at Frazier Healthcare Partners and Chairman of the Board of Directors and Chief Executive Officer of FLAC. “We have found exactly this in NewAmsterdam. NewAmsterdam’s lead program, obicetrapib, is a potentially first- and best-in-class once-daily, oral CETP inhibitor, for which potent LDL-lowering activity on top of high-intensity statins and a positive safety and tolerability profile have been observed in clinical trials. We congratulate NewAmsterdam on their recent success in securing a $1B+ partnership with the Menarini Group for Europe and we are eager to support NewAmsterdam’s world-class team as it advances obicetrapib through Phase 3 development and aims to deliver a new transformative oral therapy to the tens of millions of people worldwide who remain at high-risk of experiencing a major adverse cardiac event, despite the availability of statins and other prescription therapies.”

Proceeds from the transaction are expected to provide NewAmsterdam with the capital needed to further develop obicetrapib through several value-creating clinical and regulatory milestones, including the following:

  • Data from the ongoing Phase 3 BROADWAY trial of obicetrapib in adults with heterozygous familial hypercholesterolemia (“HeFH”) and/or established atherosclerotic cardiovascular disease (“ASCVD”) who require additional lowering of low‑density lipoprotein cholesterol (“LDL-C”) on top of high intensity statins in 2024;
  • Data from the ongoing Phase 3 BROOKLYN trial of obicetrapib in adults with HeFH, whose LDL-C is not adequately controlled despite being on maximally tolerated lipid-modifying therapies in 2024;
  • Data from the ongoing Phase 3 PREVAIL study, a global cardiovascular outcomes trial, in patients with ASCVD who have inadequate control of their LDL-C despite being on maximally tolerated lipid-modifying therapies in 2026;
  • Data from the ongoing Phase 2b ROSE2 trial, evaluating the combination of obicetrapib with ezetimibe as an adjunct to high-intensity statin therapy in 2023;
  • Potential new drug application filings for obicetrapib in the United States, Europe, Japan and China and potential commercial launch.

Summary of Transaction
The closing of the business combination would bring NewAmsterdam’s total pro forma cash balance to at least $470 million, in addition to a total enterprise value to $326 million.

Current Company shareholders are converting 100% of their existing equity interests into ordinary shares of NewAmsterdam. In addition to the funds held in FLAC’s trust account following any redemptions, an additional group of premier healthcare investors has committed to participate in the transaction through an oversubscribed and upsized PIPE of approximately $235 million at $10.00 per share.

The Boards of Directors of both the Company and FLAC have unanimously approved the proposed transaction, which is expected to close in the second half of 2022, subject to the approval by FLAC’s shareholders and the satisfaction or waiver of certain other customary closing conditions.

The description of the business combination contained herein is only a high-level summary. Additional information about the transaction will be provided in a Current Report on Form 8-K to be filed by FLAC with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, NewAmsterdam intends to file a registration statement on Form F-4 with the SEC, which will include a proxy statement/prospectus, and will file other documents regarding the proposed transaction with the SEC.

Advisors
Credit Suisse Securities (USA) LLC is acting as lead PIPE placement agent, financial advisor and capital markets advisor to FLAC. Jefferies LLC, SVB Securities LLC and William Blair & Company, L.L.C. are also acting as PIPE placement agents to FLAC and Jefferies LLC and William Blair & Company, L.L.C. are also acting as financial advisor and capital markets advisor to FLAC. SVB Securities LLC is acting as financial advisor and capital markets advisor to the Company. Moelis & Co. is also acting as financial advisor to the Company. Covington & Burling LLP is acting as legal counsel to the Company. Goodwin Procter LLP is acting as legal counsel to FLAC. Kirkland & Ellis LLP is acting as legal counsel to the PIPE placement agents.

Important Information About the Merger and Where to Find it
A full description of the terms of the transaction will be provided in a registration statement on Form F-4 to be filed with the SEC by NewAmsterdam that will include a prospectus with respect to the NewAmsterdam securities to be issued in connection with the business combination and a proxy statement with respect to the shareholder meeting of FLAC to vote on the business combination. FLAC, the Company and NewAmsterdam urge its investors, shareholders and other interested persons to read, when available, the preliminary proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about FLAC, the Company, NewAmsterdam and the transaction. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to shareholders of FLAC as of a record date to be established for voting on the proposed business combination. Once available, shareholders of FLAC will also be able to obtain a copy of the Form F-4, including the proxy statement/prospectus, and other documents filed with the SEC without charge, by directing a request to: Frazier Lifesciences Acquisition Corporation, Two Union Square, 601 Union St., Suite 3200, Seattle, WA 98101, Attn: Secretary. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC’s website at www.sec.gov.

Participants in the Solicitation
FLAC, the Company and NewAmsterdam and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from FLAC’s shareholders in connection with the proposed transaction. Information about the directors and executive officers of FLAC is set forth in FLAC’s annual report on Form 10-K filed with the SEC on March 25, 2022 and is available free of charge at the SEC’s website at www.sec.gov or by directing a request to: Frazier Lifesciences Acquisition Corporation, Two Union Square, 601 Union St., Suite 3200, Seattle, WA 98101, Attn: Secretary. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of FLAC’s shareholders in connection with the potential transaction will be set forth in the registration statement containing the preliminary proxy statement/prospectus when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Forward-Looking Statements
Certain statements included in this document that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity; expectations and timing related to the success, cost and timing of product development activities, including timing of initiation, completion and data readouts for clinical trials and the potential approval of NewAmsterdam’s product candidate; the size and growth potential of the markets for NewAmsterdam’s product candidate; the therapeutic and curative potential of NewAmsterdam’s product candidate; financing and other business milestones; potential benefits of the proposed transactions; and expectations relating to the proposed transactions, including the proceeds of the business combination and NewAmsterdam’s expected cash runway. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of NewAmsterdam’s, the Company’s and FLAC’s management and are not predictions of actual performance. These forward looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of NewAmsterdam, the Company and FLAC. These forward looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely enter into definitive agreements with respect to the proposed transactions or consummate the proposed transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions (such as any SEC statements or enforcements or other actions relating to special purpose acquisition companies) that could adversely affect NewAmsterdam or the expected benefits of the proposed transactions, or the risk that the approval of the shareholders of FLAC, the Company or NewAmsterdam is not obtained; failure to realize the anticipated benefits of the proposed transactions; matters discovered by FLAC, the Company or NewAmsterdam as they complete their respective due diligence investigations of each other; risks relating to the uncertainty of the projected financial information with respect to NewAmsterdam and the Company; risks related to the approval of NewAmsterdam’s product candidate and the timing of expected regulatory and business milestones; ability to negotiate definitive contractual arrangements with potential customers; the impact of competitive product candidates; ability to obtain sufficient supply of materials; the impact of COVID 19; global economic and political conditions, including the Russia-Ukraine conflict; the effects of competition on NewAmsterdam’s future business; the amount of redemption requests made by FLAC’s public shareholders; and those factors discussed in documents FLAC has filed or will file with the SEC, including the other risks and uncertainties described in the “Risk Factors” section of FLAC’s registration statement on Form S-1, as amended (File No. 333-250858), the registration statement to be filed on Form F-4 in connection with the proposed transactions and other documents filed from time to time. Additional risks related to NewAmsterdam’s business include, but are not limited to: uncertainty regarding outcomes of NewAmsterdam’s ongoing clinical trials, particularly as they relate to regulatory review and potential approval for its product candidate; risks associated with NewAmsterdam’s efforts to commercialize a product candidate; NewAmsterdam’s ability to negotiate and enter into definitive agreements on favorable terms, if at all; the impact of competing product candidates on NewAmsterdam’s business; intellectual property related claims; NewAmsterdam’s ability to attract and retain qualified personnel; ability to continue to source the raw materials for its product candidate. If any of these risks materialize or FLAC’s, the Company’s or NewAmsterdam’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither FLAC, the Company nor NewAmsterdam presently know or that FLAC, the Company and NewAmsterdam currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect FLAC’s, the Company’s and NewAmsterdam’s expectations, plans, or forecasts of future events and views as of the date of this document and are qualified in their entirety by reference to the cautionary statements herein. FLAC, the Company and NewAmsterdam anticipate that subsequent events and developments will cause FLAC’s, the Company’s and NewAmsterdam’s assessments to change. These forward-looking statements should not be relied upon as representing FLAC’s, the Company’s and NewAmsterdam’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither FLAC, the Company, NewAmsterdam nor any of their respective affiliates undertake any obligation to update these forward-looking statements, except as required by law.

NewAmsterdam or Company Media Contact
Spectrum Science on behalf of NewAmsterdam
Carmen Lopez
P: 1 773-306-6285
clopez@spectrumscience.com

NewAmsterdam or Company Investor Contact
Stern Investor Relations on behalf of NewAmsterdam
Hannah Deresiewicz
P: 1 212-362-1200
hannah.deresiewicz@sternir.com

Contact EQT Press Office
press@eqtpartners.com, +46 8 506 55 334

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