Nordstjernan acquires Finnish diagnostics company Aidian

Nordstjernan

Nordstjernan has signed an agreement to acquire the Finnish in-vitro diagnostics company Aidian from funds that are managed by the Nordic private equity firm Axcel. Aidian is a leading global player in the growing market for point-of-care diagnostics. The company develops, manufactures and sells instruments and tests that are used in such fields as primary care to provide quick and accurate test results. Aidian’s offering of tests addresses several global health problems such as antimicrobial resistance (AMR), diabetes and colorectal cancer. Aidian has tests that are intended to reduce unnecessary prescriptions of antibiotics, which is a driver behind the growing threat from AMR and antibiotic-resistant bacteria.

Aidian was established in 1974 as a subsidiary of Orion, a Finnish pharmaceuticals company. In addition to its headquarters in Espoo, Finland, Aidian has a local presence in another twelve countries and a global presence via distributors in over 60 export markets. The company has over 250 employees and reported sales of approximately EUR 100 million in 2021.

“We are very pleased to have been able to make this investment. Aidian has a strong product offering as well as a leading position in the global market for point-of-care diagnostics, and the company’s instruments and tests help to address several global health challenges. We are impressed by the work that Axcel has done to establish Aidian as a leading player in the field of point-of-care diagnostics and we look forward to continuing to develop Aidian and supporting the company and its management over the long-term in its important efforts concerning many central health issues,” says Nordstjernan’s CEO Peter Hofvenstam.

“We now very much look forward to joining Nordstjernan, an organization well known for its professional and long-term development of businesses within healthcare and other industries,” says Aidian’s CEO Juho Himberg.

Nordstjernan has worked for some time to expand its investment focus in the healthcare sector, which after the acquisition of Aidian will consist of five holdings that represent over 25 per cent of Nordstjernan’s net asset value.

Completion of the transaction is expected in Q1 2022.

The parties have agreed not to disclose the conditions of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

Aidian is a Finnish company in the field of in-vitro diagnostics. Aidian is headquartered in Espoo, Finland, and has global sales via a local presence and distributors. More information on Aidian can be found at www.aidian.eu.

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CVC Credit supports the acquisition of Pharmathen by Partners Group

CVC Capital Partners

CVC Credit is pleased to announce that it has co-arranged the unitranche debt facilities, featuring an ESG margin ratchet, to support Partners Group’s acquisition (on behalf of its clients) of Pharmathen, a leading European pharmaceutical company, which closed on 20 January 2022. CVC Credit will support the continuing growth strategy of the business through its European Direct Lending Strategy, which focuses on lending to established European medium and large companies with proven business models.

Founded in 1969, Pharmathen is a leading contract development and manufacturing organization (“CDMO”) specialized in advanced drug delivery technologies for complex generic pharmaceutical products. With best-in-class research and development (“R&D”) expertise, the company is a specialist in “sustained release” technologies that improve patient compliance and have led to a broad portfolio of products ranging from slow-releasing oral medicines, ophthalmics, to innovative long-acting injectables. Pharmathen’s differentiated business-to-business model serves a blue-chip customer base of more than 215 generic pharmaceutical companies from two manufacturing facilities in Greece. The company’s highly diversified product portfolio of c.80 commercialized products are supplied to patients in more than 85 countries worldwide.

Miguel Toney, Partner at CVC Credit, commented: “CVC Group’s network was invaluable to our work on Pharmathen’s financing. Notably, the private equity healthcare and local teams’ experience and insight of the market confirmed Pharmathen’s credentials as an industry-leading provider with an R&D-led approach and an unmatched first-to-market track record. We are pleased to support Partners Group and Pharmathen’s high quality management team to execute the company’s exciting growth plans.”

 

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Agilitas backs buyout of Prodieco Advanced Engineering Solutions

Agilitas

Agilitas, the pan-European mid-market private equity firm, today announces the completion of the buyout of Prodieco Advanced Engineering Solutions (the “Company” or “Prodieco”), the largest independent global provider of high-performance blister tooling change parts for the pharmaceutical industry.

Prodieco was founded in 1962 and has been a leader in precision engineering for over 60 years, designing, manufacturing, and supplying bespoke precision blister tooling change parts for blister packaging lines for pharmaceutical, animal and consumer health market products. Headquartered in Dublin, Ireland, it offers high-quality and innovative solutions to its customers, with market leading delivery times and customer service. Prodieco employs in excess of 230 highly skilled people globally and provides its products and services to customers in over 55 countries across multiple continents.

The Company helps address the growing demand for oral solid dose medication and the related growing regulation around safety, such as child resistant and senior friendly, tamper proof or high barrier packaging materials. By doing so, it provides safer and more effective ways for patients to take their medication. Its unrivalled expertise stems from decades designing and manufacturing precision products for all makes and models of blister packaging lines. This equips the Company with a unique understanding and engineering insight into the best possible tool design for each unique format, where success is dependent on high integrity design and extremely precise manufacturing tolerances.

Prodieco represents the latest example of Agilitas’s approach of backing ambitious management teams in high-quality and defensible businesses, with opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and fundamental positive purpose to society or the environment.

Saad Akram of Agilitas, who will be joining the Board of Prodieco, commented: “Prodieco’s state of the art products and relentless focus on quality provide a fantastic platform with which to accelerate the Company’s growth to date and bring about step changes in performance. This Company is well-positioned within a rapidly growing market, and we are excited to support the management team’s vision to become the leading independent provider of precision tooling and parts to the life sciences industry.”

Mike O’Hara, incoming CEO of Prodieco, commented: “Agilitas’s deep sector knowledge and unequivocal support of Prodieco’s mission makes them the ideal partner to take the business forward into the next phase of growth. Agilitas’s support will be crucial in realising our ambition of becoming a globally renowned brand and delivering safe and innovative precision engineered solutions to an increasing number of pharmaceutical customers globally.”

Martin Calderbank, Managing Partner of Agilitas, said: “Prodieco’s sophisticated products are essential for ensuring medicines are securely packaged and are thus a key part of protecting patients and keeping people healthy. Together with the management team, we will seek to further improve Prodieco’s ability to develop and deliver the highest-quality blister tooling solutions and hope to bring its precision engineering skills to new markets to benefit more end patients.”

Media enquiries to: Greenbrook Communications – Alex Jones, James Madsen, and Teresa Berezowski

 

+44 20 7952 2000 | agilitas@greenbrookpr.com

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Carlyle Enters into Definitive Agreement to Sell Sunsho Pharmaceutical Co., Ltd to Towa Pharmaceutical Co., Ltd.

Carlyle

Tokyo, Japan, December 17, 2021 – CJP SP Holding, L.P., an investment fund operated and managed by global investment firm Carlyle (NASDAQ: CG), signed an agreement to sell 100% of its investment in Sunsho Pharmaceutical Co., Ltd (“Sunsho Pharmaceutical”), a contract manufacturing company of health & nutrition (“H&N”) and pharmaceutical products, to Towa Pharmaceutical Co., Ltd. (“Towa Pharmaceutical”), a company specializing in research and development, production, and marketing of generic drugs. The transaction is expected to be completed in February of 2022.

Headquartered in Shizuoka, Sunsho Pharmaceutical is one of the largest contract manufacturers in Japan for soft capsules, seamless capsules, and other dosage forms for H&N and pharmaceutical use. The company focuses on producing absolute quality products and applies state-of-the-art contract manufacturing technology to create cutting-edge formulations and capsules.

CJP SP Holding, L.P. acquired a 100% stake in Sunsho Pharmaceutical in August of 2014 through Carlyle’s third Japan buyout fund, Carlyle Japan Partners III, having recognized the company’s strong growth potential as a contract manufacturer in a steadily growing H&N market in Japan. Carlyle also saw the potential for value creation with Sunsho Pharmaceutical and within the H&N market in Japan by leveraging its local team knowledge, global platform strengths and deep experience in the healthcare and consumer sectors.

Through Carlyle’s ownership, Sunsho Pharmaceutical strengthened its management structure and governance, initiated the launch of a new factory and research and development facility to enhance production capabilities, diversified its business portfolio to cater to new customers, and significantly increased its global revenues by bolstering and expanding its overseas business. Carlyle also worked closely with Sunsho Pharmaceutical’s management team to help drive innovation and co-create new value-add products and solutions with customers.

Carlyle will transition full ownership to Towa Pharmaceutical to support Sunsho Pharmaceutical’s next phase of growth.

Carlyle has made 31 investments in Japan since entering into the market in 2000 and this will be the 20th exit to date. Carlyle has a well-established history of investing in the healthcare sector, both in Japan and globally, investing more than US $14.7 billion of equity in over 80 deals in the global healthcare sector as of September 30, 2021. Healthcare investments in Japan include Qualicaps Co., Ltd., and Solasto Corporation.

***

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents.

Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Sunsho Pharmaceutical

Sunsho Pharmaceutical is a company that plans, develops, and conducts contract manufacturing of H&N and pharmaceutical products, being a leading player of the H&N market in Japan. Sunsho Pharmaceutical has full-line factories in Shizuoka and offers contract manufacturing and packaging of soft capsules, seamless capsules, and other dosage forms. In addition to its manufacturing capability and technology, Sunsho Pharmaceutical has top-class ability in R&D technology, sales force and quality control system. The company has various certificates including cGMP, GMP, and HACCP. The company was founded in 1993 and currently employs 690 individuals.

For more information, visit the company website at: https://www.sunsho.co.jp/en/

Media Contacts:

Carlyle
Lonna Leong
+852 9023 1157
lonna.leong@carlyle.com

Kekst CNC
Jochen Legewie / Minako Otani
+81 3 5156 0185 / +81 3 5156 0190
carlyle@kekstcnc.com

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Vifor Pharma to acquire Sanifit to further strengthen late-stage pipeline in nephrology

Andera Partners
  • Vifor Pharma to acquire Sanifit, a clinical-stage cardio-renal biopharmaceutical company focused on treatments for progressive vascular calcification disorders, complementing and strengthening the Group’s growing nephrology portfolio
  • Sanifit’s lead compound, SNF472 is a novel, first-in-class inhibitor of vascular calcification in phase 3, developed for the treatment of calcific uremic arteriolopathy (CUA) and peripheral artery disease (PAD) in patients with end-stage kidney disease
  • Purchase price includes an upfront payment of EUR 205 million, precommercial milestones for up to EUR 170 million and progressive commercial milestones

Vifor Pharma and Sanifit Therapeutics, a clinical-stage cardio-renal biopharmaceutical company focused on treatments for progressive vascular calcification disorders, today announced the companies have entered into a definitive agreement. Vifor Pharma will acquire Sanifit, for the continued development and commercialization of SNF472, a novel, first-in-class inhibitor of vascular calcification for the treatment of CUA and PAD in patients with end-stage kidney disease. There are currently no approved medicines indicated for CUA or for PAD specifically in this population. SNF472 has already been granted orphan drug designation for the treatment of CUA and PAD by the US Food and Drug Administration and for CUA by the European Medicines Agency.

Under the terms of the acquisition agreement, Vifor Pharma will acquire 100% of the outstanding shares in Sanifit Therapeutics, receiving full global rights for SNF472, further enhancing the company’s portfolio of innovative assets. Shareholders of Sanifit will receive an upfront payment of EUR 205 million, clinical, regulatory and market access milestones for up to EUR 170 million and tiered sales-based milestones that could reach mid to high triple digit EUR millions at peak sales.

“Today’s exciting announcement helps us to build on our strong nephrology pipeline to help end-stage kidney disease patients globally”, commented Abbas Hussain, Chief Executive Officer of Vifor Pharma Group. “Through the acquisition of Sanifit and its lead compound SNF472, we will further expand our growing nephrology pipeline into vascular calcification, a major cause of morbidity and mortality in patients with end-stage kidney disease. SNF472 is the only novel asset addressing a great unmet medical need for end-stage kidney disease patients with calcific uremic arteriolopathy and peripheral artery disease. We look forward to bringing this highly promising, innovative treatment option to over 330,000 patients in the US and Europe, living with CUA or PAD, as soon as possible.”

Joan Perelló, Ph.D., Chief Executive Officer of Sanifit, said; “From the very beginning, Sanifit has been a pioneer of new approaches to treat calcification disorders, a huge area of unmet need. This agreement is a testament to the enduring commitment of our dedicated team and investors, as well as our unique approach to combat vascular calcification, which originated from the University of the Balearic Islands. We are excited to join forces with Vifor Pharma, which has a world-renowned commitment to patient focused cardio-renal therapies. Vifor Pharma is the ideal partner to take the development of Sanifit’s calcification franchise forward and bring these novel treatments to patients as quickly as possible.”

Sanifit conducted a phase-IIb trial (CaLIPSO) to assess the effect of SNF472 on slowing arterial calcification, a major risk factor for cardiovascular disease in dialysis patients. The trial met its primary endpoint in reducing coronary artery calcium progression in patients treated with SNF472, compared to patients receiving placebo over a 52-week period. SNF472 is currently in phase-III trials in CUA in patients on dialysis, to measure primary endpoints for wound healing and pain. A phase-III trial in PAD in patients on dialysis, is planned to commence in 2022.

Closing of the transaction is contingent on customary closing conditions, including the FDI procedure in Spain and merger filings in certain countries, and is expected to take place in Q1 2022.

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ANI Pharmaceuticals Completes Acquisition of Novitium Pharma, Significantly Enhancing R&D Capabilities and Scale of Generics and CDMO Businesses

Ampersand
  • Combined company creates generics growth engine with technical capabilities to bring complex, high-value products to market in efficient and cost effect manner
  • Proven track record with largest number of Competitive Generic Therapy (CGT) approvals
  • Deep pipeline with a focus on niche opportunities, including 505(b)(2) candidates in Oncology and Hypertension
  • Pro-forma September 30, 2021 YTD revenues are $202.5 million and non-GAAP EBITDA $66.6 million
  • Founders Samy Shanmugam and Chad Gassert to join Executive Team and Mr. Shanmugam to join Board of Directors
  • Immediately accretive to Adjusted non-GAAP earnings per share
  • New capital structure in place

BAUDETTE, Minn., November 22, 2021–(BUSINESS WIRE)–ANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (ANI or the Company) today announced that it has completed the previously announced acquisition of Novitium Pharma, a privately held, New Jersey-based pharmaceutical company with development, manufacturing, and commercialization capabilities.

“Today marks a major milestone for ANI and the many patients who rely on our high-quality, cost-effective medications. With the completion of this acquisition, we bring on board a world-class R&D engine in the generic and 505 (b)(2) sectors, and a highly-compliant U.S. based manufacturing facility, positioning us well for sustainable long-term growth. Novitium has continued to perform in-line or above our investment thesis since deal signing on March 9th with thirteen new product approvals, strong quarter-on-quarter EBITDA growth and a successful FDA GMP inspection completed in July 2021,” stated Nikhil Lalwani, President and Chief Executive Officer of ANI.

“ANI is thrilled to welcome the expertise and leadership of Novitium’s founders, Samy Shanmugam, Chad Gassert and Vijay Thorappadi, along with over 100 talented and dedicated employees, who have joined the ANI team. Our robust product pipeline includes several more CGT and 505 (b)(2) candidates and will be further expanded to maximize the value of our bolstered R&D engine,” concluded Lalwani.

Samy Shanmugam, co-founder of Novitium and ANI’s new Head of Research & Development and Chief Operating Officer of New Jersey Operations added, “Today is an exciting day for all of our employees, as we combine the complementary strengths of our two platforms. We are energized by today’s events and look forward to strong contributions in driving the future success of an united ANI.”

“ANI’s new capital structure, comprised of the recently completed $75 million equity raise and the closure of a new $300 million Term Loan-B, $40 million revolver and $25 million PIPE, gives the Company significant flexibility in supporting the integration of Novitium into ANI, ensuring a strong Purified CortrophinTM Gel commercial launch and will propel the next phase of growth for ANI,” stated Stephen Carey, Senior Vice President and Chief Financial Officer of ANI.

Compelling Investment Thesis

  • Proven R&D Engine Fuels Sustainable Growth

Novitium has a strong pipeline with 20+ new product launches planned in the next 18 months, including products with U.S. Food and Drug Administration (FDA) Competitive Generic Therapy designation. Novitium received thirteen approvals since March 2021, several of which were limited competition launches. Novitium’s proven R&D leadership team of Samy Shanmugam, Chad Gassert and Vijay Thorapaddi will drive the combined company’s R&D engine.

  • Expands ANI’s R&D Pipeline Focused on Niche Opportunities

Novitium has expanded the 505 (b)(2) portfolio beyond the three initial 505(b)(2) candidates in Oncology and Hypertension. The combined company has also expanded dosage forms to include injectables and gels.

  • Enhances scale of CDMO Business & U.S. Based Manufacturing Capacity.

Novitium adds nine new customers to ANI’s growing CDMO business. Additionally, Novitium brings a U.S. based, state-of-the-art manufacturing facility enhancing manufacturing capabilities and CDMO opportunities.

  • Compelling Financial Profile

Immediately accretive to Adjusted non-GAAP earnings per share. The acquisition diversifies ANI’s revenue base by contributing to each of its reporting segments: Generics, Contract Manufacturing, Royalties/Other and, following the launch of Novitium’s 505(b)(2) pipeline products, the Brand segment.

The Transaction has satisfied customary closing conditions, and received approval from shareholders and relevant regulatory agencies, including clearance under the Hart-Scott Rodino Antitrust Improvements Act. As previously announced, the U.S. Federal Trade Commission (the FTC) has accepted the proposed consent order in connection with ANI’s definitive agreement to acquire Novitium Pharma. The divestitures required by the FTC of development rights to one generic drug and assets with respect to another generic drug are immaterial to the Company’s business and have been completed. The acceptance by the FTC satisfies all required antitrust clearances needed to be obtained for the acquisition.

Terms of the Transaction and Debt Re-Financing

Under the terms of the transaction, the Purchase Price is comprised of (i) a cash payment of $89.5 million and (ii) the issuance of 2,466,654 common shares of ANI equity. Novitium is also eligible to receive (i) $25 million in contingent payments upon the achievement of financial targets related to Generics products and filing of certain ANDAs and (ii) $21.5 million in contingent payments upon the achievement of financial targets from the 505(b)(2) products.

Commensurate with the completion of the transaction, ANI retired its existing Term Loan-A credit facility (including the repayment of $200.1 million of face value outstanding) and closed a new $300 million Term Loan-B and a $25 million PIPE investment with Ampersand Capital Partners. The new credit facility also includes a $40 million revolver that is un-drawn at this time. The new debt financing is secured by substantially all the assets of ANI and its subsidiaries.

Advisors

Bourne Partners, Truist Securities and Houlihan Lokey acted as financial advisors to ANI Pharmaceuticals. SVB Leerink acted as financial advisor to Novitium Pharma and its shareholders. Hughes Hubbard & Reed LLP were ANI’s legal advisors and Orrick, Herrington & Sutcliffe LLP acted as legal advisors to Novitium and its shareholders.



About ANI Pharmaceuticals, Inc.

ANI Pharmaceuticals is a diversified bio-pharmaceutical company serving patients in need by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceutical products, including for diseases with high unmet medical need. For more information, please visit www.anipharmaceuticals.com.

Forward Looking Statements

To the extent any statements made in this release deal with information that is not historical, these are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, those relating to the development, manufacturing and commercialization of future product candidates and any additional product launches from the Company’s generic pipeline, those relating to expansion of the R&D engine, expected growth and similar statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “plans,” “potential,” “future,” “believes,” “intends,” “continue,” other words of similar meaning, derivations of such words and the use of future dates.

Uncertainties and risks may cause the Company’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Uncertainties and risks include, but are not limited to, the risk that the Company may face with respect to importing raw materials; the use of single source suppliers and the time it may take to validate and qualify another supplier, if necessary; increased competition and strategies employed by competitors; the ability to realize benefits anticipated from acquisitions; costs and regulatory requirements relating to contract manufacturing arrangements; the ability of the Company to successfully maintain manufacturing capabilities and adequate commercial quantities of Cortrophin Gel at acceptable costs and quality levels; broad acceptance of Cortrophin Gel by physicians, patients and the healthcare community; the acceptance of pricing and placement of Cortrophin Gel on payers’ formularies; delays or failure in obtaining future product approvals from the U.S. Food and Drug Administration; general business and economic conditions, including the ongoing impact of the COVID-19 pandemic; market trends for our products; regulatory environment and changes; and regulatory and other approvals relating to product development and manufacturing.

More detailed information on these and additional factors that could affect the Company’s actual results are described in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other filings with the SEC. All forward-looking statements in this news release speak only as of the date of this news release and are based on the Company’s current beliefs, assumptions, and expectations. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211122005977/en/

Contacts

Investor Relations:
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Media:
Angela Salerno-Robin
dna Communications
312-445-8219
ASalerno-Robin@dna-comms.com

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Bridgepoint to sell HTL

Bridgepoint

Montagu, a leading European private equity firm, has entered into exclusive negotiations with Bridgepoint, to acquire HTL Biotechnology (“HTL” or “the company”), an international, fast-growing biotech and industrial firm leading the development and production of innovative pharmaceutical grade biopolymers. Financial terms of the transaction are not being disclosed.

Founded in 1992, HTL has developed a state-of-the-art biopolymers platform which provides customised, pharmaceutical grade biopolymer solutions to leading pharmaceutical and medical device companies worldwide. Its products are used in therapeutic areas such as ophthalmology, rheumatology, urology, dermatology, and medical aesthetics. The company is recognised as the world pioneer in industrialising the bioproduction of hyaluronic acid.

Montagu’s deep sector expertise coupled with the company’s strong healthcare capabilities and organisational foundation will enable HTL to consolidate its global leadership and continue to provide exceptional value to its clients and end-users.

Yvon Bastard, CEO of HTL, commented, “We look forward to partnering with Montagu. Their extensive experience in the healthcare field, will allow us to accelerate our growth, continue to innovate, and realise our international ambitions.”

Guillaume Jabalot, Director at Montagu, said: “HTL represents several key features of a Montagu deal, demonstrating a competitive and defensible core business in an attractive market. The management team has accelerated growth and innovation through R&D, which have reinforced the company’s leadership position globally and opened new growth avenues. We are proud to be partnering with HTL and its employees and supporting them in being at the forefront of innovation in the biopolymers sector and improving patients’ lives.”

Vincent-Gael Baudet, Partner, Bridgepoint, said: “We’re delighted to have worked with the HTL management team to drive the transition of the company to become a biotechnology platform of scale, and a leading R&D partner to pharmaceutical companies across the world. We wish the management team every success as they embark on the next exciting chapter.”

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swissfillon, a leader in sterile filling of complex pharmaceuticals, joins 3i-backed ten23 health and enhances the combined company’s integrated offering to its customers

3I

3i Group plc (“3i”) today announces that swissfillon, a leader in sterile filling of complex pharmaceuticals, is joining ten23 health, a pure-play, patient-centric and sustainable biologics drug product contract development and manufacturing organisation (“CDMO”).

Founded in 2013 by Daniel Kehl and based in Visp Switzerland, swissfillon is a FDA and Swissmedic approved drug product-focused CDMO. The company is a leader in the sterile filling of complex pharmaceuticals into innovative containers and devices, such as pre-filled syringes, cartridges and vials.

The combined business of ten23 and swissfillon will provide an integrated offering for sterile drug product development and manufacturing of biologics, challenging molecules and dosage forms, offering customers an integrated suite of services. Prof. Dr. Hanns-Christian Mahler will serve as CEO of the combined entities under the ten23 health umbrella. Daniel Kehl, founder of swissfillon, will remain with the business in a key leadership role and will help to lead ten23’s new infrastructure engineering projects that are of great strategic importance for the further development of the combined offering.

The biologics CDMO market is a c.$15bn market which is growing strongly and is characterised by a high degree of fragmentation. Increased outsourcing of key services is anticipated, driven by underlying biologics market growth, development of new advanced therapeutics such as cell & gene therapies, continued emergence of small, virtual, biotechs and increasing need for large pharma to access expertise and capacity. The combined ten23 and swissfillon will also be well positioned as biologics modalities mature and move from bulk vials into formats that facilitate better routes of administration for patients.

Daniel Kehl, current CEO of swissfillon: “We look forward to joining ten23 health’s world-class team. There is a great strategic fit between our deep expertise in sterile drug product manufacturing for complex pharmaceuticals and ten23 health’s focus on the development and manufacturing of injectable treatments. By pooling our expertise, we will be able to further expand our market position for injectable treatments. The swissfillon team looks forward to continue advancing under the ten23 health umbrella and providing our combined group of customers with excellent support and customisable solutions.”

Hanns-Christian Mahler, CEO of ten23 health commented: “I would like to welcome Daniel and the swissfillon team to ten23 health. Sterile fill and finish services are expected to experience significant growth over the coming years. This rising demand is driven by expanded drug development pipelines, incorporating more complex, large-molecule products and therapies that require specific expertise for both development and sterile production. This is precisely why we expect ten23 health’s services, now including swissfillon, to be in great demand. At ten23 health, we are very pleased that we can now offer this sought-after know-how to biotech start-ups and pharmaceutical companies from one single source”

Richard Relyea, Partner, 3i added: “The acquisition of swissfillon fits with our strategy of investing organically and with M&A to build ten23 health into an integrated biologics-focused CDMO. Following the acquisition of swissfillon, ten23 health will be one of a limited number of biologics CDMOs focused on both formulation development and fill & finish, with a particular focus on high value therapeutics.”

 

Download this press release  

 

– Ends –

 

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Silvia Santoro
Shareholder enquiries
Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About ten23 health   

ten23 health, headquartered in Basel, Switzerland, is the human-centric and sustainable strategic partner of choice for the pharmaceutical industry and biotech start-ups: we develop, manufacture, and test tomorrow’s medicines. We support our clients in developing differentiated, stable, usable and safe injectable treatment options for patients. ten23 health combines the latest scientific findings with our proven and tested world-class industry and regulatory expertise to forge new paths for supporting our clients. We provide our innovative services in a fair and sustainable manner, respecting people’s health and the future of our planet.

About swissfillon 

swissfillon, based in Visp, Switzerland, is a leading CDMO for high precision sterile drug product manufacturing, filling complex pharmaceuticals into innovative containers and devices. The company provides innovative pharma manufacturing solutions to satisfy previously unmet market and patient needs. Thanks to its first-class filling technology and drug product manufacturing expertise, swissfillon offers its services to a broad customer portfolio supporting biotech start-up companies as well as established pharma companies.

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

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Andera Partners leads Amolyt Pharma’s $80 million Series B alongside Sectoral Asset Management

Andera Partners

Funds to be used to continue to advance AZP-3601 through clinical development for hypoparathyroidism while progressing AZP-3813 through IND-enabling activities in acromegaly and further expanding early-stage pipeline

With this $80 million Series B financing, Andera Partners is closing its second investment of the BioDiscovery 6 Fund.

Amolyt Pharma, a global company specialized in developing therapeutic peptides for rare endocrine and related diseases, today announced that the company has closed an $80 million Series B equity financing round. The financing was co-led by Sectoral Asset Management and Andera Partners, with participation from ATEM Capital and all investors from the company’s July 2019 Series A financing, including LSP, Novo Ventures, Kurma Partners, Mass General Brigham Ventures, Innobio 2 managed by Bpifrance, Orbimed, Pontifax, Turenne Capital and Credit Agricole Creation.

Amolyt plans to use the proceeds from the financing to advance its pipeline of potential therapeutics for rare endocrine and related diseases, including clinical development of AZP-3601 for hypoparathyroidism, pre-clinical development of AZP-3813 for acromegaly and ongoing research related to AZP-3404. In addition, the company continues to work to further expand its early-stage pipeline through both internal research and development activities and potential in-licensing opportunities.

We are very pleased to expand our high-quality syndicate with the addition of these new North American and European investors, and we are highly appreciative of the continued support from our existing investors,” stated Thierry Abribat, Ph.D., founder, and chief executive officer of Amolyt Pharma. “This financing will give us the opportunity to further pursue our mission of building a leading rare endocrine and related disease company, and we will continue to work to introduce new and potentially life-changing therapeutics to patients globally.”

 

“We are very pleased to join Amolyt, which is led by a dynamic and experienced serial entrepreneur in the development of therapies targeting rare endocrinological and metabolic diseases. We are confident in the development of the lead product and in the team’s ability to create a high-quality pipeline to address major unmet medical needs in the field of endocrinology. The Life Sciences team is proud to co-lead this $80M round, which is a testimony to the dynamism of the sector in France and Europe, in collaboration with high quality investors and sector specialists,” said Raphaël Wisniewski, Partner at Andera Life Sciences.

 

The Series B financing follows several recent positive pipeline developments, including the following:

  • In September 2021, the company announced completion of the multiple ascending dose (MAD) portion of its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism and will present the results on October 1st, 2021.
  • In September 2021, the company announced that it had exercised its option to globally license a portfolio of macrocyclic peptide growth hormone receptor antagonists (GHRA) under the terms of the research collaboration agreement with Peptidream it announced in December 2020. The identified, optimized drug candidate, AZP-3813, is being developed as a potential treatment for acromegaly to be used in combination with somatostatin analogues (SSAs) for patients who do not adequately respond to SSAs alone.
  • In May 2021, presented positive data from its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism at ECE. Data from the single ascending dose (SAD) portion of the trial showed that AZP-3601 induced a long-acting serum calcium response following a single administration in healthy volunteers.

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Nordic Capital and Avista Capital Partners to sell Acino, a leader in advanced drug delivery technologies, to ADQ

  • Ownership period defined by Acino’s transformation and growth to become leading provider of trusted and innovative pharmaceuticals in emerging markets.

Leading healthcare investors Nordic Capital (through Nordic Capital CV1) and Avista Capital Partners (“Avista Capital”) today announced that they have entered into a definitive agreement to sell Acino (“Acino” or “the Company”), a Swiss pharmaceutical company headquartered in Zurich with a global platform that promotes affordable healthcare in key emerging markets through contract manufacturing and out-licensing.  The acquirer, ADQ is one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

Nordic Capital and Avista Capital Partners to sell Acino, a leader in advanced drug delivery technologies, to ADQ Image

In partnership, Avista Capital and Nordic Capital acquired Acino in 2013 via a take-private transaction from the Swiss stock exchange (SIX: ACIN).  Since that time, both investors supported Acino’s long-term growth strategy and transformed the business to become a high-growth emerging markets- focused pharmaceuticals platform with significant market presence in the Middle East, Ukraine, Russia, and South Africa. Since the 2013 investment, Acino has executed a number of strategically-important acquisitions, including PharmaStart (Ukraine), Litha Healthcare (South Africa), and the acquisition of a portfolio of select over-the-counter (OTC) and prescription pharmaceutical assets from Takeda Pharmaceuticals, which expanded Acino’s global footprint and addressable therapeutic areas.

Thomas Vetander, Partner, Nordic Capital Advisors, said, “During the ownership period, Acino executed on key growth initiatives and made significant investments to drive both organic and acquisitive growth.  This includes the acquisition of Takeda’s primary care portfolio in key emerging markets, which has positioned Acino for the next phase of its development. We thank the Acino team for their dedication during these years. It’s now time for the Company to take the next step forward together with ADQ to aim for even further growth and expansion”.

Thompson Dean, co-CEO and Managing Partner of Avista Capital, said, “We are incredibly proud that our partnership with Acino strengthened its business and expanded its client base, capabilities, and geographic footprint. During the period of our investment, Acino brought to market many innovative products that are making a real difference in the lives of patients in emerging markets around the world. We know Steffen Saltofte and his team are well-positioned to capture the significant opportunities in front of them, and we wish Acino the best as they embark on this next chapter with ADQ.”

Steffen Saltofte, CEO of Acino, concluded, “On behalf of the entire Acino team, I would like to thank Avista Capital and Nordic Capital for their partnership and invaluable contributions to our company. As owners, they have been instrumental in supporting us and fully focused on seizing the opportunities available to Acino. We look forward to building on our momentum and continuing our strong growth with our new partners at ADQ.

Fahad Al Qassim, Executive Director, Healthcare & Pharma at ADQ, commented: “We are creating a strong platform to fortify the UAE’s position as a regional hub for pharmaceutical manufacturing, commercialisation and distribution in select growth-leading markets. Our aim for ADQ’s healthcare and pharma cluster is to ensure access to affordable, essential medicines and advance new, innovative treatments that help improve people’s lives. We thank Nordic Capital and Avista Capital for their collaboration and contributions to Acino’s success. We look forward to working with Acino’s leadership team to deliver an even greater level of growth, innovation and ambition across ADQ’s pharma value chain.”

The financial terms of the transaction were not disclosed. It is subject to customary closing conditions, including regulatory approvals.

 

Media contacts:

Nordic Capital

Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

Avista Capital Parters

Daniel Yunger or Jon Morgan
Kekst CNC
e-mail: daniel.yunger@kekstcnc.com / jonathan.morgan@kekstcnc.com

ADQ

media@adq.ae

 

About Acino

Acino is a Swiss pharmaceutical company headquartered in Zurich, Switzerland with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. The company is backed by Nordic Capital and Avista Capital Partners. Acino delivers quality pharmaceuticals to promote affordable healthcare in these emerging markets and leverage its high-quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out-licensing. For more information, please visit www.acino.swiss.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About Avista

Founded in 2005, Avista Capital is a leading New York-based private equity firm with nearly $8 billion invested in 40 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer-driven healthcare sectors. Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.

About ADQ

Established in Abu Dhabi in 2018, ADQ is one of the region’s largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.

For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on Twitter, Instagram and LinkedIn.

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