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


Avista Capital Parters

Daniel Yunger or Jon Morgan
Kekst CNC
e-mail: /



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

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

“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

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 or write to You can also follow ADQ on Twitter, Instagram and LinkedIn.

Categories: News


Eurazeo enters into exclusive discussions to sell its stake in SEQENS


Paris, August 26, 2021

Eurazeo today announced that it has entered into exclusive discussions to sell its stake in Seqens to SK Capital and to the company’s existing French shareholders: Ardian, Mérieux Equity Partners and Eximium. Nov Santé Actions Non Cotées, the fund launched at the initiative of the French Insurance Federation (FFA) and Caisse des Dépôts under their sustainable recovery investment program for France (“Assureurs – Caisse des Dépôts Relance Durable France”) and managed by Eurazeo, would also invest in Seqens. Bpifrance is currently exploring the possibility of co-investing with SK Capital.
The deal is expected to close by the end of 2021, subject to the fulfillment of the standard conditions precedent for this type of transaction. Through the sale of its Seqens stake, Eurazeo would make a 1.8x return on its initial investment, with potential earnouts that could result in a multiple of 2.0x, depending on the company’s future performance.

Since its acquisition in June 2016 and with the support and guidance of Eurazeo and its partners, Seqens has cemented its status as an integrated global player in pharmaceutical solutions and specialty ingredients, generating €1 billion in annual revenue, with 19 manufacturing sites, seven R&D centers, and nearly 3,000 employees on three continents. During this period, Seqens has also expanded its technological and industrial footprint, investing more than €400 million across all its manufacturing sites and completing three major acquisitions: PCAS in France, Finland and Canada; Chemoxy in the United Kingdom; and PCI Synthesis in the United States.

Marc Frappier, Member of Eurazeo Executive Board and Managing Partner, Mid-Large Buyout commented as follows:
“Over the last five years, Eurazeo has supported Seqens in its expansion efforts, helping the company become an integrated global player in pharmaceutical solutions. We are delighted with this partnership involving major French and foreign investors, which will allow Seqens to continue consolidating its position as a French and European champion with global ambitions. We are also very satisfied with the constructive dialogue and excellent cooperation we have enjoyed with Ardian, Mérieux Equity Partners and Eximium throughout this period.”

ilfried Piskula, Managing Director, Mid-Large Buyout, added:
“This partnership has taken shape thanks to the strategic repositioning accomplished in these last few years. We are proud to have helped the teams at Seqens deliver on a shared vision and successfully achieve significant transformation, in particular through key acquisitions, investments in R&D and innovative technologies, as well as operational improvements, which today allow Seqens to aim for global leadership in the coming years.”

Eurazeo is a leading global investment group, with a diversified portfolio of €25.6 billion in assets under management, including €17.8 billion from third parties, invested in 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA



Virginie Christnacht
+33 (0)1 44 15 76 44
Pierre Bernardin
+33 (0)1 44 15 16 76
David Sturken
+44 (0)7990 595 913

Categories: News


Navamedic ASA – Q4 2020 financial results


Today, 18th February 2021, Navamedic ASA presented the fourth quarter of 2020. The company grew revenues by 17% in Q4 2020 compared to the same quarter last year. Navamedic reported revenues of NOK 55.3 million in Q4 2020 with an EBITDA of negative NOK 3.7 million driven by both new product launches and investments in further growth initiatives. The company reiterates its mid- to long-term ambition of building a NOK 500 million company.

Revenues in the fourth quarter of 2020 were NOK 55.3 million (47.3 million in the fourth quarter of 2019). The gross margin was 40.4% (29.7%), while the EBITDA was negative NOK 3.7 million (-8.0). In full-year 2020, revenues increased by 11% to NOK 209.9 million (188.8), while EBITDA came in at negative NOK 1.3 million (-6.5).

“The fourth quarter of 2020 displayed strong growth in our underlying portfolio and new products introduced during the second half of the year. Key growth drivers continued to be Mysimba and Alflorex, while we were also pleased that the uptake of newly added products such as ThermaCare developed as planned. During 2020, we have made strategically important investments in our organisation and platform. These investments will be key as we embark on 2021 and continue to launch new products and push for continued growth in our existing portfolio,” says Kathrine Gamborg Andreassen, Chief Executive Officer of Navamedic ASA, and continues.

“The Covid-19 pandemic is evolving. We are monitoring the situation closely and will continuously evaluate measures to limit effects on supply and demand going forward. In the fourth quarter, we experienced volatility for Imdur caused by an out of stock situation. The impact was however offset by strong performance in our consumer health, medical nutrition and specialty pharma product categories.”

Shortly after the quarter, Navamedic launched Cysticina® in Norway, a nonprescription drug for treatment of symptoms of urinary infection. The company estimates an addressable Norwegian market of NOK 100 million, with no real nonprescription alternatives available in Norwergian pharmacies.

“Urinary infection is a troublesome and unfortunately returning problem for women, and we are pleased to introduce Cysticina as the first real nonsubscription alternative for treatment of urinary infection symptoms. Women’s health is key to us and we plan to launch more products in this area going forward,” says Gamborg Andreassen.

Navamedic will launch products in at least one country in each launch window going forward. The company targets 20% annual growth from 2021 and reiterates its mid- to long-term ambition of building a NOK 500 million company with strong gross margins and underlying profitability.

Navamedic ASA


Navamedic ASA is a Nordic pharma company and reliable provider of high-quality products, delivered to hospitals and through pharmacies, meeting the specific needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo.

Categories: News


Centessa Pharmaceuticals Launches with $250 Million Series A Financing and Unveils a New Kind of Pharmaceutical R&D Model

General Atlantic

Merger of 10 Privately Held Biotech Companies with Highly Validated Programs Led by Industry Leading Teams to Operate Under Centessa Umbrella

Company Founded by Medicxi with Financing Led by General Atlantic, and Co-led by Vida Ventures and Janus Henderson Investors

Saurabh Saha, M.D., Ph.D., Former Senior Vice President, R&D, and Global Head of Translational Medicine at Bristol Myers Squibb Appointed as Chief Executive Officer

Moncef Slaoui, Ph.D., Former Chief Scientific Advisor of Operation Warp Speed, Former Chairman of R&D at GlaxoSmithKline, Partner at Medicxi, Appointed as Chief Scientific Officer, Advisor

Centessa Pharmaceuticals (“Centessa”) launched today as a novel asset-centric pharmaceutical company designed and built to advance a portfolio of highly validated programs. Our asset-centric R&D model applied at scale has assembled assets led by specialized teams committed to accelerate development and reshape the traditional drug development process. The company was founded by Medicxi and raised $250 million in an oversubscribed Series A financing led by General Atlantic and co-led by Vida Ventures and Janus Henderson Investors. Additional blue-chip investors participated in the financing, including Boxer Capital, Cormorant Asset Management, T. Rowe Price Associates, Inc., Venrock Healthcare Capital Partners, Wellington Management Company, BVF Partners L.P., EcoR1 Capital, Franklin Templeton, Logos Capital, Samsara BioCapital, LifeSci Venture Partners and an undisclosed U.S.-based, healthcare-focused fund.

In conjunction with its launch, Centessa has completed the merger of 10 private biotech companies (“Centessa Subsidiaries”) that will each continue to develop its assets with oversight from the Centessa management team. Each Centessa Subsidiary team is asset-focused, in that it prosecutes a single program or biological pathway, with leadership provided by subject matter experts who are given a high degree of autonomy to advance each program. With a singular focus on advancing superior science, combined with proprietary capabilities, including structure-based drug discovery and design, the subsidiary teams enable Centessa to potentially develop and deliver impactful medicines to patients.

“The vision of Centessa is to build a pharmaceutical company with a unique operational framework that aims to reduce some of the key R&D inefficiencies that classical pharmaceutical companies face because of structural constraints,” said Francesco De Rubertis, Ph.D., co-founder and Partner at Medicxi and Chairman of the Centessa Pharmaceuticals Board of Directors. “Our operations will be driven by an asset-centric approach, whereby each Centessa Subsidiary is solely focused on the execution of its programs with oversight from the highly experienced Centessa management team. The ambition of applying asset centricity at scale is to be able to deliver life altering medicines to patients with improved efficiency by boosting R&D productivity.”

Our Approach

Centessa brings together 10 companies from Medicxi’s portfolio with 15 high conviction programs led by experienced teams. Each Centessa Subsidiary is led by industry leaders and subject matter experts with deep experience directly related to key biological pathways that underpin the programs being advanced. These entrepreneurs who have catalyzed the creation of subsidiary companies will continue to advance novel science within the Centessa enterprise.

The Centessa Subsidiaries are comprised of ApcinteX, Capella BioScience, Janpix, LockBody, Morphogen-IX, Orexia Therapeutics, Palladio Biosciences, PearlRiver Bio, Pega-One, and Z Factor. The current Centessa Pharmaceuticals portfolio consists of four clinical stage programs, including two that are in late-stage clinical development, and more than 10 additional programs spanning diseases with high unmet need across oncology, hematology, immunology, inflammation, neuroscience and rare diseases.

“With this first-of-its kind model, we are bringing together programs with robust genetic and biological validation under one new pharmaceutical company that provides centralized resources to enable and empower asset-focused teams to advance highly impactful programs for patients,” said Saurabh Saha, M.D., Ph.D., Centessa’s Chief Executive Officer. “This approach encourages an environment where scientific teams are incentivized to maintain an unwavering focus on advancing medicines to key go/no-go inflection points based on data-driven decisions.”

Centessa will have the flexibility to deploy capital by adhering to a “follow-the-data” philosophy and will support each Centessa Subsidiary with centralized capabilities that enable advancement of its respective programs. These include manufacturing, regulatory and operational support to enable and expedite scientific prosecution of programs by subsidiary teams. Each team is uniquely incentivized to expeditiously interrogate key scientific hypotheses.

Moncef Slaoui, Ph.D, Chief Scientific Officer, Advisor of Centessa added, “In creating Centessa, we have strategically assembled our subsidiary portfolio to include programs with strong biological validation, mechanistic diversification, and teams with proprietary capabilities and insights. This high quality portfolio aims to deliver enhanced diversification, reduced risk and asymmetric upside with a view to withstanding the inherent low probability of success associated with drug development.”

Meet the Team

The Centessa Pharmaceuticals management team consists of biotech and pharmaceutical industry leaders who oversee decisions related to capital allocation, development plans and strategic transactions in partnership with the Centessa Subsidiaries.

Saurabh Saha, M.D., Ph.D., former Senior Vice President, R&D, and Global Head of translational medicine at Bristol Myers Squibb has been appointed as the company’s Chief Executive Officer and a member of the Board of Directors. In addition, Moncef Slaoui, Ph.D., former Chief Scientific Advisor of Operation Warp Speed, former Chairman of R&D at GlaxoSmithKline, and Partner at Medicxi, has been appointed as Chief Scientific Officer, Advisor.

The Centessa Board of Directors includes Francesco De Rubertis, Ph.D., Medicxi, who will serve as the company’s Chairman; Aaron Kantoff, Medicxi; Brett Zbar, M.D., General Atlantic; and Arjun Goyal, M.D., M.Phil., Vida Ventures.

“We believe Centessa represents a unique opportunity in our sector,” said Brett Zbar, M.D., Managing Director and Global Head of life sciences at General Atlantic. “The high-quality science and entrepreneurial drive within each of the Centessa Subsidiaries, combined with this deeply experienced leadership team, has the potential to bring important medicines to patients with speed and efficiency.”

“Centessa’s bold vision and unique operating model are supported by compelling clinical programs, strong data and a stellar team,” said Arjun Goyal, M.D., M.Phil., Co-Founder and Managing Director at Vida Ventures. “We believe Centessa’s approach can ultimately lead to impactful medicines that will benefit patients globally.”



ApcinteX is developing SerpinPC, a specific inhibitor of the anticoagulant protease activated protein C (APC), for the treatment for hemophilia A and hemophilia B, with or without inhibitors.

Capella BioScience

Capella Bioscience is developing CBS001, a neutralizing therapeutic monoclonal antibody to the inflammatory membrane form of LIGHT (known as TNFSF14), for the treatment of idiopathic pulmonary fibrosis. Capella BioScience is also developing CBS004, a therapeutic monoclonal antibody to blood dendritic cell antigen 2 (BDCA2), for the treatment of lupus erythematosus (systemic and cutaneous) and systemic sclerosis.


Janpix is developing a novel class of selective dual-STAT3/5 small molecule monovalent degraders for the treatment of various hematological malignancies, including leukemias and lymphomas.


LockBody is pioneering a platform technology to develop LockBody CD47 (LB1) and LockBody CD3 (LB2) for optimal targeting of solid tumors by the innate immune system.


Morphogen-IX is developing MGX292, a protein-engineered variant of human bone morphogenetic protein-9 (BMP9), for the treatment of pulmonary arterial hypertension.

Orexia Therapeutics

Orexia Therapeutics is developing oral and intranasal orexin receptor agonists using structure-based drug design approaches. These agonists target the treatment of narcolepsy type 1, where they have the potential to directly address the underlying pathology of orexin neuron loss, as well as other neurological disorders characterized by excessive daytime sleepiness.


Palladio is developing lixivaptan, an oral non-peptide, new chemical agent that works by selectively suppressing the activity of the hormone vasopressin at the V2 receptor, as a treatment for autosomal dominant polycystic kidney disease with the goal of slowing the progression of kidney function decline and avoiding the liver safety issues associated with tolvaptan.

PearlRiver Bio

PearlRiver Bio is developing ​potent and selective oral exon20 insertion mutation inhibitors intended to have ​minimal activity on wild-type EGFR and optimal pharmacokinetic properties, ​for the treatment of EGFR exon 20 insertion (with potential to target and treat Her2 exon 20 insertions) non-small cell lung cancer (NSCLC). PearlRiver Bio is also developing oral inhibitors targeting C797S-mutant EGFR and undisclosed next generation EGFR inhibitors for NSCLC.


PegaOne is developing imgatuzumab, a humanized, non-fucosylated, anti-EGFR monoclonal antibody for the treatment of cutaneous squamous cell carcinoma and other solid tumor indications.

Z Factor

Z Factor is developing ZF874, a small molecule chemical chaperone intended to rescue folding of the Z variant of alpha-1-antitrypsin, increasing serum levels of active protein and reducing accumulation in the liver, for the treatment of alpha-1-antitrypsin deficiency.


Centessa Pharmaceuticals Limited is a next-generation biopharmaceutical company that aims to reshape the traditional drug development process. The company applies an asset-centric R&D model at scale to advance a portfolio of highly validated programs led by industry leading teams. Each program is developed by an Centessa Subsidiary and supported by a centralized infrastructure and the Centessa management team. The company is headquartered in Cambridge, Mass. For more information, visit


This press release contains forward-looking statements. Statements we make in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “estimates,” “expects,” “intends,” “anticipates,” “believes,” “may,” “should,” “will,” “plans,” “projects,” “seeks,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements, including statements relating to expectations, plans and prospects regarding the clinical development plans and timing, clinical trial designs, clinical and therapeutic potential, and strategy for any of our programs reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, the success of clinical trials, regulatory filings, and approvals. These forward-looking statements are based upon the current expectations and beliefs of Centessa’s management team as of the date of this release and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Furthermore, Centessa operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. Except as required by applicable law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic

Dan Budwick

Mary Clark & Shabnam Bashir
Optimum Strategic Communications

Marcus Veith
VEITHing Spirit +41 79 20 75 111

Categories: News


Nordic Capital and Astorg invest in pharmaceutical technology and advanced analytics company Cytel

Nordic Capital

December 21 2020
Nordic Capital and Astorg invest in pharmaceutical technology and advanced analytics company Cytel Image


  • Cytel is one of the leading global providers of clinical trial design technology, biometric services and advanced analytics, focusing on optimizing clinical trials and helping pharmaceutical companies to unlock the full potential of their clinical and real-world data
  • Nordic Capital and Astorg will actively support and accelerate Cytel’s next phase of growth and innovation, drawing on their extensive experience of investing in healthcare and technology

Nordic Capital and Astorg today announced an agreement to jointly acquire Cytel Inc. (“Cytel”), from New Mountain Capital. Cytel is one of the largest providers of statistical software and advanced analytics for clinical trial design and biometrics execution. Building on Cytel’s advanced software platform and leading biometrics services offerings, the new owners will invest in the continued development of the business and its software. Cytel’s mission is to continue providing life sciences companies with cutting-edge clinical trial optimization technologies and harness the full value of their clinical and real-world data. Cytel’s management team, led by CEO Josh Schultz, will continue to lead the organization, building on a strong track-record of organic growth and strategic acquisitions.

Cytel is recognized as an industry pioneer of adaptive clinical trials and other innovative quantitative methods, helping biotech and pharmaceutical companies to reduce risk, increase R&D productivity and support medical innovation, improving speed, productivity and efficiency of clinical trials. The Company was founded over 30 years ago by renowned statisticians Cyrus Mehta and Nitin Patel, thought-leaders in statistical science, who will continue to be active in the Company.

Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. Cytel’s software and services are used by over 500 life sciences customers, including the world’s 30 top pharmaceutical companies, as well as regulatory bodies such as the FDA.

“We are delighted to welcome Nordic Capital and Astorg as our new owners and partners. They have an extensive track-record of commitment to medicine and data science, and we share several common experiences in developing and growing leading healthcare and technology businesses. It is this common foundation of vision and values which makes them ideal to support our continued growth and strategy. With Nordic Capital and Astorg, we have strong new partners at our side with expertise networks, cultural fit and a focus on innovation and quality that will benefit both our customers and employees. I also want to thank New Mountain Capital for their support over the last several years. They have helped us achieve our strategic objectives and we are now ready to take the next step on our journey,” said Joshua Schultz, CEO, Cytel.

“Cytel is a fantastic company. We’ve been impressed with its unique position, outstanding reputation and trust within complex clinical trials and statistical science, and we look forward to supporting Cytel’s expansion in partnership with the management team and founders,” said Judith Charpentier, Partner and Head of Healthcare, Astorg. “Together, we will fuel Cytel’s growth, with a shared vision of building a leading provider of advanced analytics and software for the life sciences industry,” said Daniel Berglund, Partner, Nordic Capital Advisors.

“We are proud of Cytel’s leading position and growth in enabling clinical trial optimization for the advancement of life-saving therapeutics. Over the past three years, New Mountain supported the transformation of Cytel into a cutting-edge pharma technology and analytics platform through strategic acquisitions and organic business building,” said Kyle Peterson, Managing Director, New Mountain Capital. “New Mountain partnered with Cytel in 2017 as a result of the firm’s sector deep dive in life sciences and technology-enabled business service companies that both raise quality and lower cost. We believe in the strong value proposition of the Company and are confident that Cytel’s management, in partnership with Nordic Capital and Astorg, will continue the Company’s successful path forward,” said Matt Holt, Managing Director, and President of Private Equity at New Mountain Capital.

The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.

Barclays and Rothschild & Co served as financial advisors to New Mountain Capital.

About Cytel

Cytel is the largest provider of statistical software and advanced analytics for clinical trial design and execution. For over thirty years, Cytel’s scientific rigor and operational excellence have enabled biotech and pharmaceutical companies to navigate uncertainty, prove value and make confident, evidence-based decisions. Its experts deliver industry-leading software, data-driven analytics, real-world evidence and strategic consulting. Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. For more information about Cytel, please visit us at

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 15.5 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

About Astorg

Astorg is a leading independent private equity firm with over €9 billion of assets under management. We work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body. We have valuable industry expertise in healthcare, software, business-to-business professional services and technology- based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg. For more information about Astorg: Follow us on LinkedIn.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with $28 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit 


Press contacts

Rebecca Grimm
VP, Marketing
Tel: +1 781 755 8032

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50

Stéphanie Tabouis
Publicis Consultants
Tel: +33 6 03 84 05 03

New Mountain Capital
Dana Gorman / Claire Walsh
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Neurana Pharmaceuticals Announces Publication in the Journal of Pain Research

H.I.G. Europe

SAN DIEGO – November 23, 2020 – Neurana Pharmaceuticals, a biotechnology company focused on the treatment of neuromuscular conditions, today announced the publication of results from the dose-ranging Phase 2 STAR Study of tolperisone in patients with acute and painful muscle spasms of the lower back, in the Journal of Pain Research.

“The published clinical data demonstrates the potential benefit of tolperisone in the treatment of acute and painful muscle spasms,” explained lead author Srinivas Nalamachu, M.D., Adjunct Associate Professor, Kansas City University of Medicine and Biosciences. “The efficacy and favorable tolerability profile, along with no observed impact on somnolence, represents a differentiated profile compared to muscle relaxants currently prescribed for the treatment of muscle spasms.”

The manuscript includes safety and efficacy information for 415 patients (tolperisone n=337; placebo n=78) across 38 clinical sites in the United States. Patients experiencing acute muscle spasm of the back received tolperisone or placebo administered three times per day (TID) for 14 days. Tolperisone was well tolerated with no serious adverse events reported. Overall, adverse events were reported in 18.1% of subjects receiving tolperisone versus 14.1% of subjects receiving placebo. The primary efficacy endpoint was patient-rated pain “right now” using a numeric rating scale on Day 14. Mean change from baseline in numeric rating scale score of pain “right now” on Day 14 was –3.5 for placebo versus –4.2, –4.0, –3.7, and –4.4 for tolperisone 50, 100, 150, and 200 mg TID, respectively.

Randall Kaye, M.D., Neurana Pharmaceuticals’ Chief Medical Officer shared, “We are very pleased to see the tolperisone Phase 2 STAR Study clinical results published in the Journal of Pain Research. This data strengthens our confidence in our planned Phase 3 RESUME-1 study, for which we will begin enrollment imminently and anticipate topline data in the second half of 2021.”

The published data is described further in the manuscript, “Tolperisone for the Treatment of Acute Muscle Spasm of the Back: Results From the Dose-Ranging Phase 2 STAR Study (NCT03802565)”, which can be accessed at

About Neurana Pharmaceuticals, Inc.
Neurana Pharmaceuticals, Inc. is a privately held, clinical-stage, biotechnology company focused on the treatment of neuromuscular conditions, including acute, painful muscle spasms of the back. The company was founded in 2013 and is based in San Diego. Neurana’s lead development compound is tolperisone, a novel, non-opioid, non-drowsy, non-cognitive impairing treatment, which the company is developing for the large population of patients who experience muscle spasms. In May 2018, Neurana completed a $60 million Series A financing led by Sofinnova Ventures with participation from Longitude Capital, New Leaf Venture Partners and H.I.G. BioHealth Partners to fund the clinical development of tolperisone. For additional information, please visit

Categories: News


RedSail Technologies, LLC Positioned to Buy PioneerRx® to Transform Community Pharmacy

Franciso Partners

Spartanburg, SC — RedSail Technologies, LLC has signed an agreement to acquire PioneerRx, LLC. The transaction is currently undergoing a standard regulatory review and will close upon receipt approval.

PioneerRx, an innovator and leader in pharmacy software for community pharmacy, will join other leading brands that are part of the RedSail Technologies family – QS/1®, Integra®, PUBLIQ® Software, and PowerLine®.

“We are determined to transform pharmacy and adding PioneerRx to our family of brands will help accelerate our efforts to develop one of the most clinically advanced and profitable pharmacy networks in the country,” commented RedSail Technologies, LLC CEO, Kraig McEwen. McEwen continued, “PioneerRx’s track record speaks for itself – tremendous growth, delighted customers, and best in class service. We are thrilled for them to become part of the RedSail family.”

“PioneerRx is excited about the opportunity to become part of RedSail Technologies as our company continues to drive amazing solutions that are revolutionizing independent pharmacy. PioneerRx’s mission is to save and revitalize independent pharmacy and we believe teaming up with RedSail Technologies will accelerate our ability to do this,” said Jeff Key, PioneerRx President and CEO.

Jeff Key and the PioneerRx leadership team will continue to lead the PioneerRx organization, with operations in Irving, Texas and Shreveport, Louisiana. RedSail Technologies, LLC is headquartered in Spartanburg, South Carolina with operations in Anacortes, Washington.

Goldman Sachs served as the exclusive financial advisor to PioneerRx and assisted in structuring and negotiating the transaction on its behalf. Alston & Bird LLP served as legal counsel to PioneerRx. Kirkland & Ellis LLP served as legal counsel to RedSail Technologies.

About RedSail Technologies RedSail Technologies, LLC, offers innovative and comprehensive healthcare and governmental software solutions. It trailblazed the community and institutional pharmacy software markets more than 40 years ago and has competed in governmental software arena for 50 plus years. RedSail’s mission is to empower its customers to serve their communities by being unwavering in its adherence to RedSail’s corporate values – Forward-Thinking, One Team, Relationships, Tempo and Experts. Learn more about RedSail Technologies at

About PioneerRx PioneerRx is committed to saving and revitalizing independent pharmacy. With unmatched customer support and continuous updates, PioneerRx Pharmacy Software equips pharmacies to thrive in a clinical, patient-centered future. By implementing suggestions from users and paving the way for leading industry trends, they empower pharmacies for continues success and improved patient outcomes. See why PioneerRx is the most installed independent pharmacy software: Visit

Ardian takes a minority stake in H2 Pharma, a leading french pharmaceuticals company


  • 20 October 2020 Growth Paris, France

Paris, October 20th, 2020 – Ardian, a world leading private investment house, today announces the acquisition of a minority stake in H2 Pharma, a French specialist in the development and production of generic drugs.  This is the first investment conducted by Ardian Growth Fund in the healthcare sector.

Established in Ile-De-France in 2009, H2 Pharma is a key player in the production of non-sterile prescription and non-prescription liquid pharmaceuticals. This focus area has enabled the firm to grow significant partnerships with key pharmaceutical laboratories. The company differentiates itself through its holistic control of the entire value chain. This allows H2 to supply active ingredients as well as produce finished products, and manage the advanced research and development phase including achieving marketing authorization.

H2 Pharma’s cutting-edge technological equipment and automated production processes allows the company to continue to grow competitively in its operating markets and strengthen its strategic positioning. The investment will also allow H2 Pharma to consolidate its share of the European market, helping it reach a production line of 100 million units per year and increasing its international scope. The partnership will also assist the management team in diversifying the company’s offering by expanding into other areas of growth such as regulatory affairs and quality control.

Henry Hassid, CEO of H2 Pharma, stated: “We are delighted to partner with Ardian in this new phase of our growth and development. The pharmaceutical sector is becoming an increasingly difficult environment and consolidation is necessary to remain competitive. We are happy to have strong partnerships both in the sector and with Ardian to fuel our growth. Ardian has demonstrated true agility in providing tailored support which will help uphold our growth trajectory, for now and the years to come.”

Frédéric Quéru, Director at Ardian Growth, added: “The resilience and engagement of H2 Pharma’s management team have steered the company exceptionally well over the past years and we are looking forward to helping them achieve their vision for this next stage of development. Undoubtedly, the company’s competitiveness also comes from its cutting-edge technology, which places it head and shoulders above many of its peers. We see significant potential for strong organic growth and we look forward to helping management realize this by working closely with Henry and his teams.”

Florian Dupont, Senior Investment Manager at Ardian Growth, said: “H2 has an ambitious yet realistic long-term vision, which we believe is very achievable given its market know-how and robust long-standing customer relationships. Given its holistic approach to the value chain and its strong and diversified business model, we see H2 Pharma as an ideal partner for Ardian.”



H2 Pharma is a privileged partner of all pharmaceutical companies for their generic or OTC products.
Today considered as the reference in the segment of non-sterile liquid pharmaceutical specialties (mouthwash, syrup, oral solution…), H2 Pharma has holistic control of the entire value chain. Its industrial practices, its innovation capacity in pharmaceutical flow and its t cutting-edge technology enable H2 Pharma to differentiate itself.



Ardian is one of the world’s leading private equity firms with $100 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world.
Based on its values of excellence, loyalty and entrepreneurship, Ardian benefits from an international network of 700 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages the funds of 1,000 clients through its five investment pillars: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian


  • Ardian

    • Frédéric Quéru, Florian Dupont
    • Legal advisor: McDermott Will & Emery (Diana Hund, Maxime Fradet, Antonia Teleman)
    • Legal, tax and social DD: McDermott Will & Emery (Diana Hund, Maxime Fradet, Antonia Teleman)
    • Financial advisor: Deloitte (Vania Mermoud, Yassine Ghissassi)
  • H2 Pharma

    • Legal advisor: Orsan (David Sebban, Laure Le Gall, Clara Paetzold)
    • Legal structuration and tax: Orsan (David Sebban, Joris Chaumont)
    • Financial advisor: Aca Nexia (François Mahé)



GREGOR RIEMANN +44 (0)7920 802 627


Categories: News


Tarsus Pharmaceuticals, Inc. Announces Closing of Initial Public Offering and Full Exercise by the Underwriters of Option to Purchase Additional Shares

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Frazier Helathcare partners

IRVINE, Calif., Oct. 20, 2020 (GLOBE NEWSWIRE) — Tarsus Pharmaceuticals, Inc. (“Tarsus”), a late clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutic candidates to address large market opportunities initially in ophthalmic conditions, today announced the closing of its initial public offering of 6,325,000 shares of its common stock at a price to the public of $16.00 per share, which includes 825,000 shares sold upon full exercise of the underwriters’ option to purchase additional shares of common stock. All of the shares were offered by Tarsus. The aggregate gross proceeds to Tarsus from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $101.2 million.

The shares began trading on The Nasdaq Global Select Market on October 16, 2020 under the symbol “TARS.”

BofA Securities, Jefferies and Raymond James acted as joint book-running managers for the offering. LifeSci Capital and Ladenburg Thalmann acted as co-managers for the offering.

A registration statement relating to the offering of these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on October 15, 2020. Copies of the registration statement can be accessed by visiting the SEC website at The securities referred to in this release were offered only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at; Jefferies at 1-877-821-7388 or by email at; and Raymond James at 1-800-248-8863 or by email at

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Tarsus Pharmaceuticals, Inc. 
Tarsus Pharmaceuticals, Inc. is a late clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutic candidates to address large market opportunities, initially in ophthalmic conditions, where there are limited treatment alternatives. It is advancing its pipeline to address several diseases across therapeutic categories including eye care, dermatology, and other diseases with high, unmet needs. Its lead product candidate, TP-03, is a novel therapeutic in Phase 2b/3 that is being developed for the treatment of Demodex blepharitis.

Media Contact:
Allison Howell
Pascale Communications, LLC


Categories: News


ProductLife Group further strengthens its pharmacovigilance offering with the acquisition of Axpharma

This strategic acquisition, the first since 21 Invest took a majority stake in ProductLife Group in 2019 and appointed new CEO Xavier Duburcq, is part of the Group’s aim to widen its expertise and global reach.

ProductLife Group (PLG), a specialist provider of regulatory and compliance services for the life sciences industry, acquires Axpharma from Galiena Capital and refinances its debt alongside securing the means to achieve the next steps of its ambitious buy-and-build strategy.

Founded in 2001 by Florence Postel and accompanied by Galiena Capital as majority shareholder since 2015, Axpharma is a prominent pharmacovigilance service provider in Europe. Its team of experts enjoys a strong reputation for providing highly dependable services in the areas of case management, medical writing, medical literature monitoring, pharmacovigilance responsibility delegation, and around-the-clock medical information. Its clients include pharmaceutical, biopharmaceutical, medical device and cosmetics companies, primarily in Europe.

This acquisition falls perfectly in line with PLG’s growth acceleration and transformation plan. It will support the Group’s ambition to become the leading global provider of regulatory and compliance services in life sciences, covering regulatory affairs, clinical safety, pharmacovigilance, and quality. Pharmacovigilance services, in particular, are currently facing strong and growing international demand from life sciences companies, and PLG’s capabilities in the field will be strongly bolstered via the Axpharma deal.

ProductLife Group is ideally positioned to capitalise on this opportunity thanks to its global full-service contract model (on-shore and off-shore resourcing), its strategic use of smart technology and its best-in-class institutional team, recently reinforced with the appointment of Candice Bosson as group vice-president of human resources & talent management, and of Paolo Guerra, as new medical device lead.

Commenting on the Axpharma acquisition, PLG CEO Xavier Duburcq said, “Our strategic priority is to reinforce PLG’s ability to address the needs of today’s biopharma and medical product industry, drawing upon decades of experience in management of scientific and regulatory aspects of medicine. The merger of PLG and Axpharma offers tremendous potential to further invest in automation and artificial intelligence, as part of the aim to offer to our clients reliable, innovative, and cost-effective solutions that are always one step ahead of what the industry expects.

“I have known Axpharma for some years, and our positive work cultures make a great match. Working with the company’s well-respected and similarly-motivated team will bring exciting opportunities for us all. This acquisition also includes Audithem, an emerging company providing auditing services in pharmaceutical good practices, which will support PLG’s ambition to grow in the Quality and Compliance area,” he continued.

Speaking for both Axpharma and Audithem, Managing Director Sophie Brisset-Jaillet, said, “We are delighted at this meeting of minds and goals and we’re excited at the prospect of being part of PLG, a larger group with an excellent reputation and a broader reach. Together there is so much more we can do which can only benefit our clients and our employees. This is an exciting step for our companies. Our teams will now be able to work together in a fluid and efficient manner so that we can continue the good work we do making it even better and stronger.”

Fabrice Voituron, Managing Partner at 21 Invest, said, “The strengthening of ProductLife Group’s organization together with its good commercial momentum today result in the acceleration of the buy-and-build strategy, in spite of the context. Indeed, the Axpharma opportunity embodies the start of a new phase of growth, demonstrating PLG’s willingness to widen its expertise and expand its geographical reach notably in the United States and Europe. Supported by a new acquisition financing line, the Group has the means to support its ambitions and is expected to make further announcements in the next few months.”

Although ProductLife Group, in common with its peers around the world, must manage its plans within the constraints of the continuing pandemic, the organisation has identified strong growth markets and maintained strong performance, as demand for its services has remained buoyant. Indeed, the organisation has seen significant commercial successes in 2020, including some notable COVID-19 safety projects and a significant deal to manage the regulatory and quality activities of a large generic-drug organisation.

Categories: News