Mallinckrodt Reaches Agreement to Sell Therakos Business to CVC

CVC Capital Partners

DUBLIN and LUXEMBOURG – August 5, 2024 – Mallinckrodt plc (“Mallinckrodt” or the “Company”), a global specialty pharmaceutical company, and CVC Capital Partners (“CVC”), one of the world’s leading investment firms, today announced that they have entered into a definitive agreement1 under which CVC Capital Partners Fund IX will acquire the Company’s Therakos business for a purchase price of $925 million, subject to customary adjustments.

Therakos is a fully integrated extracorporeal photopheresis (ECP) delivery system for autologous immunomodulatory therapy. With approvals for use in the U.S., Canada, Europe, Japan, Australia and Latin America, it is the platform-of-choice among healthcare providers and patients to treat a range of immune-related diseases. CVC has deep expertise in healthcare and a global portfolio of life sciences businesses spanning pharma, med-tech and healthcare services. The firm intends to make additional investments in the continued research, development, indication expansion and geographic expansion of Therakos.

Under the terms of the agreement, key employees who work on Therakos will transition with the business and continue supporting the product and its stakeholders.

Quotes

We see significant opportunities ahead to expand Therakos’ indications, enter new geographies and bring this innovative treatment to more patients around the world.

Cathrin Petty and Phil RobinsonCVC’s Healthcare Team

On behalf of CVC’s Healthcare team, Cathrin Petty and Phil Robinson said, “We see significant opportunities ahead to expand Therakos’ indications, enter new geographies and bring this innovative treatment to more patients around the world. We look forward to working closely with the talented Therakos team and adding this best-in-class ECP system with an unparalleled efficacy, safety and tolerability profile to our portfolio of healthcare businesses.”

“Today’s announcement underscores our commitment to executing on our strategic priorities and creating value for our stakeholders,” said Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt.

“This transaction provides the Therakos business with an ideal partner to invest in its continued growth, and we look forward to closely working with CVC to transition Therakos for the benefit of patients, healthcare providers, partners and employees. I thank the Therakos team for their ongoing commitment and dedication to improving the lives of patients.”

Mallinckrodt intends to use net proceeds from the transaction to reduce its net debt by more than 50%. The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.

Advisors
Lazard is serving as Mallinckrodt’s financial advisor, and Wachtell, Lipton, Rosen & Katz is serving as primary legal counsel, with Arthur Cox serving as counsel in Ireland and A&O Shearman serving as counsel in other international geographies.

UBS is serving as CVC’s financial advisor, together with Freshfields Bruckhaus Deringer (legal counsel), PWC (financial) and Candesic (commercial).

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Trustar Capital Completes Acquisition of Leading Throat Health Enterprise Guilong Pharmaceutical

Citic Capital

(Hong Kong, 2 April 2024) – Trustar Capital (the private equity affiliate of CITIC Capital Holdings Limited)
is pleased to announce the successful completion of the acquisition of leading throat healthcare
company Guilong Pharmaceutical (Anhui) Co., Ltd. (“Guilong Pharmaceutical”, or the “Company”) via its
China buyout fund. This acquisition marks a significant milestone in Trustar Capital’s investment strategy
in the OTC pharmaceutical and wellness industry.

Established in 1989, Guilong Pharmaceutical has a rich history of over 30 years. Guided by the mission
of “Inheriting the Essence of Chinese Medicine, Promoting Public Health”, Guilong Pharmaceutical has
continuously pursued research and innovation to enrich its product portfolio, covering both the OTC
pharmaceutical and the larger wellness sector. Over the years, the company has successfully built two
well-known brands, Guilong ( ) and Manyanshuning ( ), offering a comprehensive selection
of solutions for throat problems spanning from mild to severe conditions. Additionally, Guilong
Pharmaceutical has expanded its product line into the broader wellness sector, providing consumers
with a diverse selection of products for throat health and related areas.

With the increasing demand for medical health, the OTC pharmaceutical and wellness industry in China
has a promising outlook. OTC pharmaceuticals play a crucial role in improving treatment accessibility
and reducing healthcare costs. In recent years, there has been a significant surge in China’s self-care and
self-medication markets, bolstered by the extensive support from national policies. Furthermore, factors
such as an aging population, heightened public health awareness, tech innovation, and pervasive
healthcare reform will continue to drive steady growth in the Chinese OTC pharmaceutical market.
According to IQVIA, a leading global healthcare service provider, the market size of OTC sector will
exceed RMB300 billion by 2025.

Feng DAI, general manager of Guilong Pharmaceutical, said: “Since its establishment over 30 years ago,
Guilong Pharmaceutical has consistently focused on the needs of consumers, laid great emphasis on
product efficacy and quality management, and regarded product competitiveness as a backbone of the
brand, hence has built a leading reputation in the throat health sector. In the future, under the support of
Trustar Capital, Guilong Pharmaceutical will actively expand the treatment offerings, enhance product
portfolio, and improve omnichannel presence to strengthen our leading position in the OTC
pharmaceutical markets.”

Yan ZHAO, Partner of Trustar Capital, said: “We are optimistic about the future of China’s OTC
pharmaceuticals industry. We highly recognize Guilong’s excellent reputation in the market and their
iconic brand and are excited to work with the outstanding and energetic management team led by general
manager DAI Feng. Looking ahead, we aim to utilize our resources and post-investment experience to
further empower the company. Additionally, we plan to leverage our M&A expertise and network to
expand Guilong Pharmaceutical’s product line and treatment offerings, driving sustainable growth going
forward.”

Trustar Capital has significant investment experience in the healthcare sector, focusing on
comprehensively and continuously integrating resources and expanding the industry, and has
established a rich ecosystem of portfolio enterprises, including Harbin Pharmaceutical Group, GNC,
Taibang Biologic Group, Jissbon, Genertec Universal Medical, Hygeia Healthcare, Genesis MedTech,
MedAlliance and other high-quality enterprises. This acquisition of Guilong Pharmaceutical aligns
perfectly with Trustar Capital’s buyout investment strategy. It also showcases Trustar Capital’s deep
experience and strong capabilities when it comes to multinational corporations carving out their Chinese
businesses. Moving forward, Trustar Capital will remain focused on mergers and integration within the
OTC pharmaceutical and wellness space and create long-term value by building out a complete suite of
public health services over the long run.

About Trustar Capital
Trustar Capital, the private equity affiliate of CITIC Capital Holdings Limited, focuses on control buyout
opportunities globally and has completed around 100 investments since inception across China, Japan,
U.S., Europe, etc. Trustar Capital currently manages USD8.7 billion of committed capital. For more
information, please visit http://www.trustarcapital.com/.
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory
company. The firm manages over USD16 billion of capital across 100 funds and investment products
through its multiple asset class platform covering private equity, real estate, structured investment &
finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors
and employ over 500,000 people around the world.

For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com

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Ontario Teachers’ and Nordic Capital to invest together in Advanz Pharma to drive future growth

Nordic Capital
  • The joint investment will foster future growth and innovation in the near-and long-term
  • During Nordic Capital’s ownership to date, Advanz Pharma has transformed into a leading European specialty pharmaceutical platform

 

Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), a leading global institutional investor, and Nordic Capital, one of the most active and experienced investors in healthcare globally, have agreed to jointly invest in Advanz Pharma (“Advanz”), a global pharmaceutical company, to support Advanz’s development and further fuel its strong growth potential in the years to come.

Advanz is a global pharmaceutical company with a strategic focus on specialty, hospital and rare diseases pharmaceuticals. It has commercial sales in more than 90 countries globally with a direct presence in key countries in Europe, the US, Canada, and Australia, and a Centre of Excellence for business support in Mumbai, India.

Advanz’s product portfolio and pipeline comprise innovative medicines, specialty generics & biosimilars and originator brands. Advanz addresses a broad range of therapeutic areas, including hepatology, gastroenterology, anti-infectives, critical care, endocrinology, CNS, and, more broadly, rare diseases. Following Nordic Capital’s initial investment in 2021, Advanz scaled its European presence significantly and built a strong pipeline including innovative rare disease medicines and biosimilars.

Jean-Charles Douin, Senior Managing Director and co-Head of EMEA Private Capital at Ontario Teachers’, said: “Advanz aligns well with our strategy of backing proven management teams in businesses with strong growth potential. With speciality pharmaceuticals a key area of focus for us in healthcare, we look forward to working together with Nordic Capital and the Advanz management team to support its existing and future pipeline, and drive innovation and growth across its global platform.”

Rainer Lenhard, Partner, Nordic Capital Advisors added: “We are excited for Nordic Capital to continue its investment in Advanz together with Ontario Teachers’. This joint investment will support Advanz’s continued development in the years to come and allow the company to continue to scale its business model further and build on the market dynamics in its segment.”

Raj Shah, Partner and Head of Healthcare, Nordic Capital Advisors commented: “During Nordic Capital’s ownership, Advanz has been transformed into a leading European specialty pharma platform by building a best-in-class infrastructure and successfully launching pipeline products during the last few years, enabling future growth in innovative medicines, and a strong track-record of executing on M&A opportunities.”

Steffen Wagner, CEO, Advanz Pharma said: “We are excited to continue our growth journey together with Nordic Capital and Ontario Teachers’. To have them jointly backing our growth ambitions validates our strategy, the capabilities of our team, and increases the positive impact we can deliver for patients.”

Nordic Capital initially invested in Advanz Pharma in 2021 and will now invest via Nordic Capital XI, following the exit of its initial investment through Nordic Capital X.

Terms of the transaction were not disclosed, and the investment is subject to regulatory approvals.

Private Capital at Ontario Teachers’ has over C$60bn of assets globally and uses its deep industry expertise and global network to make control or co-control investments in focus sectors. With a dedicated global healthcare team, Ontario Teachers’ has deployed over C$5bn across 16 healthcare investments in its private capital portfolio, focusing on investments in life sciences, pharmaceutical services, medtech, and healthcare service providers.

Nordic Capital has assets under management of €30bn and invests in selected sectors and companies in Northern Europe and North America, offering partnership, deep sector knowledge, capital and experience to drive sustainable growth. It is one of the most active investors in healthcare globally, focusing on investing in in companies within Medtech, Pharma, Care services and Healthtech. To date, Nordic Capital has made 35 healthcare platform investments and has in total deployed €9.3bn of equity capital in the sector.

 

 

Contact Details

Ontario Teachers’
Henrietta Dehn
Email: Henrietta_dehn@otpp.com
Tel: +44 7407 795 960

Kekst CNC
Email: otpp@kcnc.com

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

 

About Ontario Teachers’ 

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of $249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Toronto, London, Hong Kong, Singapore, Mumbai, San Francisco, New York, Dallas, and São Paulo, our more than 400 investment professionals bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.


About Nordic Capital

Nordic Capital is a leading sector-specialised 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 Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 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, Norway, and South Korea. 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 Advanz Pharma

Advanz Pharma is a global pharmaceutical company with the purpose to improve patients’ lives by providing and enhancing the specialty, hospital, and rare disease medicines they depend on. Our headquarters are in London, UK. We have commercial sales in more than 90 countries globally and have a direct commercial presence in more than 20 countries, including key countries in Europe, the US, Canada, and Australia, a Centre of Excellence in Mumbai, India, as well as an established global distribution and commercialisation partner network. Advanz’s product portfolio and pipeline comprise innovative medicines, specialty generics & biosimilars, and originator brands. Our products cover a broad range of therapeutic areas, including hepatology, gastroenterology, anti-infectives, critical care, endocrinology, oncology, CNS, and, more broadly, rare disease medicines. Our ambition is to be a partner of choice for the commercialisation of specialty, hospital, and rare disease medicines in Europe, Canada, and Australia. In line with our ambition, we are partnering with biopharma and development companies to bring medicines to patients. We can only achieve this due to our dedicated and highly qualified employees, acting in line with our company values of entrepreneurship, speed, and integrity. For more information, please visit https://www.advanzpharma.com

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PharmaForce Announces Significant Investment from Aquiline Capital Partners

JAN 16, 2024

NEW YORK, Jan. 16, 2024 – Pharma Force Group LLC (“PharmaForce” or “the company”), a pharmacy solutions provider to hospitals and health clinics, announces that Aquiline Capital Partners LP (“Aquiline”) has made a majority investment. Aquiline is a private investment firm, investing in financial services and related technologies, with over $10 billion in assets under management as of September 30, 2023.

Since its inception in 2017, PharmaForce has delivered transparent and flexible 340B administration software to over 280 clients. With the recent launch of its innovative pharmacy benefits management offering, the company continues to be a trailblazer in the sector. Leveraging the partnership with Aquiline, which has deep expertise in the intersection between healthcare and insurance, PharmaForce is well positioned to accelerate strategic M&A and continue to expand its product capabilities.

Daniel Dimitri, CEO and Co-Founder of PharmaForce, said: “The investment from Aquiline marks a significant milestone for us. As we gear up to lead the market’s pharmacy solutions sector, Aquiline’s strategic insights and network will be invaluable in realizing our vision for expansive growth and innovation.”

Benedict Baerst, Partner at Aquiline, said: “In a healthcare system where safety net providers are indispensable, transparent and efficient Third Party Administrators are crucial. PharmaForce, with its tech-driven approach, has consistently delivered superior outcomes in the 340B program. Our investment reflects our confidence in PharmaForce’s potential to emerge as a market leader.”

Piper Sandler served as the exclusive financial advisor to PharmaForce in the transaction and Taft was PharmaForce’s legal counsel. Ropes & Gray was Aquiline’s legal counsel. The transaction closed in the fourth quarter of 2023. Additional financial details of the transaction were not disclosed.

About PharmaForce PharmaForce, founded in 2017, is a pharmacy solutions provider serving hospitals and health clinics across the United States. PharmaForce leverages its 340B and technology expertise to provide clients a transparent and flexible solution to administer its 340B program and recently launched its pharmacy benefits management product. The company services over 250 clients and has achieved #1 Best-in-KLAS rating for 340B Management Systems since 2021.

About Aquiline Capital Partners Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services, healthcare, and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

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Nordic Capital acquires majority share in IntegriChain, the only fully integrated platform for pharma commercialization and market access

Nordic Capital
  • Investment will accelerate IntegriChain’s ambitious growth targets and cement its status as a leading platform for pharma manufacturers to bring their science to market 
  • Further strengthens Nordic Capital’s record as a leading healthcare and technology investorNordic Capital has signed an agreement to acquire a majority share in IntegriChain, a leading provider of pharmaceutical technology, data, consulting, and outsourcing solutions designed to improve how life sciences products reach customers. IntegriChain delivers pharma’s only fully integrated platform for commercialization and market access, helping manufacturers bring their science to market while ensuring patients have affordable, timely, and sustainable access to therapy. Nordic Capital is acquiring the majority stake from Accel-KKR, a global software private equity firm, which first invested in IntegriChain in 2016.IntegriChain’s integrated ICyte Platform helps connect the commercial, financial, and operational dimensions of drug access and profitability. ICyte enables pharmaceutical innovators to achieve better commercial outcomes by digitalizing daily and recurring business activities and integrating data and operations across contracting, pricing, channel and distribution, and gross-to-net.

    “IntegriChain has established a significant position over the last 17 years as a leader in access and commercialization for life sciences – helping manufacturers of all size from strategy to operational execution. We are confident that the company will continue its already strong record of growth by helping customers address their most pressing market access challenges as the industry evolves. The fact that IntegriChain supports more than 400 pharmaceutical customers speaks to the quality of the platform, data, and services they provide. We’re certain that Nordic Capital’s experience supporting companies with similar ambitions, our extensive industry networks, and deep-sector knowledge will take the company to even greater heights,” said Daniel Berglund, Co-Head of Healthcare, Nordic Capital Investment Advisors.

    Josh Halpern, Co-Founder and CEO of IntegriChain, said: “We’re pleased to have Nordic Capital as a new partner to support us on our journey. We are immensely proud of the team at IntegriChain and how we help pharma manufacturers deliver winning commercialization strategies while optimizing their net revenue. With Nordic Capital’s invaluable healthcare and technology experience and expertise, I’m confident that this partnership will enable us to extend our position as a leading platform for pharma manufacturers to bring their science to market. We thank Accel-KKR for their many years of sound guidance and support to help us ready IntegriChain for this important next phase of our business development.”

    The terms of the transaction were not disclosed. Completion of the transaction is expected before year end and is subject to customary closing conditions, including relevant regulatory approvals.

    Morgan Stanley & Co. LLC and Harris Williams LLC are acting as financial advisors to IntegriChain. Evercore is acting as financial advisor to Nordic Capital.


    Media contacts:

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

    IntegriChain
    Jennifer Guinan
    Sage Strategic Marketing
    +1 610.425.8659
    jennifer@sagestrat.com


    About IntegriChain
    IntegriChain helps pharma manufacturers bring their science to market, ensuring patients have affordable, timely, and sustainable access to therapy. IntegriChain delivers Pharma’s only data-driven commercialization platform — from strategy to operational execution. The Company’s unique focus on data, technology, consulting, and outsourcing helps connect the commercial, financial, and operational dimensions of drug access and profitability. Through the ICyte Platform, IntegriChain enables pharmaceutical innovators to achieve better commercial outcomes by digitalizing daily and recurring business activities and by integrating data and operations across contracting, pricing, channel and distribution, and gross-to-net. IntegriChain is backed by Accel-KKR, a leading Silicon Valley technology private equity firm, and is headquartered in Philadelphia, PA, with offices in Ambler, PA, and Pune, India. For more information, visit www.integrichain.com or follow on LinkedIn.


    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 EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 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, Norway, and South Korea. 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 Accel-KKR

    Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London, and Mexico City. Visit accel-kkr.com to learn more.

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KKR and Flerie form specialized pharma services platform Frontier Biosolutions and invest in Coriolis Pharma

KKR
  • KKR and Flerie to support organic and inorganic growth to extend Coriolis’ leadership position in formulation development and analytical services for innovative high-value biologics and cell and gene therapy products
  • Experienced team of biopharma services veterans led by Thomas Eldered of Flerie Invest AB (“Flerie”) to provide strategic advice and operational support to Frontier’s portfolio companies, including Coriolis

MUNICH–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced, in partnership with Flerie, the formation of a new global pharma services platform, Frontier Biosolutions (“Frontier”), which will invest in a portfolio of companies focused on specialized pharmaceutical services to advanced therapeutics customers. Frontier will invest in differentiated scientific capabilities and proprietary technology platforms that address critical bottlenecks in the development and manufacturing of advanced therapeutics.

Industry veteran and co-investor Thomas Eldered will serve as Frontier’s Executive Chairman, bringing more than 34 years of senior management expertise to the management board and drawing on his experience as Co-founder of Recipharm and as a life sciences investor at Flerie. He will be joined by Mark Quick, formerly Head of M&A at Recipharm now Partner at Flerie, Stephan Kutzer, formerly CEO at Alcami and Divisional CEO and COO at Lonza Pharma and Biotech, Danielle Young, formerly Head of Commercial Strategy at Alcami, and Phil Vanek, currently CTO at Gamma Biosciences.

As the platform’s foundational investment, funds managed by KKR and Flerie, through Frontier, have invested in Munich-based Coriolis Pharma, a global leader in formulation research and development, analytical services and non-GMP manufacturing of innovative high-value biologics and cell and gene therapy products. With its scientific expertise, Coriolis enables its clients to create high quality drug products with global commercial potential from early development to product commercialization. KKR’s investment will enable Coriolis’ continued expansion, especially into the fast-growing cell and gene therapy segment and will expand its range of services offered to customers globally.

“We are thrilled to partner with Flerie and Thomas Eldered, the experienced Board of Directors, and the team at Coriolis Pharma at a time of growing demand for specialized services to support the development of advanced therapeutics,” said Kugan Sathiyanandarajah, Managing Director and Head of KKR’s Health Care Strategic Growth business in Europe. “This platform and the investment in Coriolis Pharma are another example of our Health Care Strategic Growth platform strategy to partner with proven operators in an area we have been following for some time.”

“We are very excited to launch Frontier Biosolutions as a global platform that we believe will enable its future portfolio companies to understand and address the evolving needs in drug development,” said Thomas Eldered. “Coriolis Pharma has an industry-leading track record as a global provider of mission-critical, highly specialized formulation development services and a reputation for scientific leadership and complex problem solving. I look forward to working with the outstanding management team at Coriolis as they pursue their ambitious growth plans.”

Michael Wiggenhorn, Co-Founder of Coriolis, commented: “This investment presents a pivotal growth opportunity for Coriolis to realize our strategy and vision. The ability to leverage Frontier’s collective skills and expertise will be invaluable as we revolutionize the development process of biopharmaceutical drugs. Together with a strong suite of industry advisors and KKR’s global network and market knowledge, we will be able to position Coriolis for the future and move one step closer to our goal of making future therapies available to humankind efficiently and on time.”

KKR is investing in Coriolis Pharma through its KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $19 billion in the sector since 2004.

The investment in Coriolis Pharma underscores KKR’s strong presence in the German-speaking DACH region, where KKR has invested more than €15 billion of long-term equity capital in over 30 companies since 1999. Currently, approximately 40 of KKR’s global portfolio companies operate in the DACH region.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Flerie

Flerie is an active long-term global biotech and pharma investor based in Stockholm and London managing a portfolio of 30 companies in Europe, Israel and the US. Flerie’s evergreen investment strategy, operational expertise and network enables pioneering technologies in the drug development and services space to advance on their path to treating patients and commercialization. Flerie was founded in 2011 by Thomas Eldered, who also co-founded and built Recipharm to be one of the world’s top five pharmaceutical contract manufacturers. For more information, please visit www.flerie.com.

About Coriolis Pharma

Coriolis Pharma is a globally operating contract research and development organization (CRDO) and one of the world leaders in formulation research and development of (bio)pharmaceutical drugs, including cell and gene therapy products and vaccines. It is the vision of Coriolis to revolutionize the development process of biopharmaceutical drugs by integrating innovative digital formulation approaches from drug development to commercial products. With its interdisciplinary team of highly skilled scientists and an expert scientific advisory board, Coriolis provides cutting-edge services and tailor-made solutions for its clients. Coriolis was founded in 2008 and currently employs more than 200 employees from over 36 nations around the world. For more information visit www.coriolis-pharma.com.

KKR media contact

Thea Bichmann
Mobile: +49 (0) 172 13 99 761
Email: kkr_germany@fgsglobal.com

Fabian Prietzel
Mobile: +49 (0) 171 86 01 411
Email: kkr_germany@fgsglobal.com

Coriolis media contact

Bettina von Klitzing-Stückle
Mobile: +49 (0) 151 52 61 38 97
Email: bettina.klitzing@coriolis-pharma.com

Source: KKR

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Azurity Pharmaceuticals acquires KKR-backed Slayback Pharma

KKR

WOBURN, MA – Azurity Pharmaceuticals, Inc. (“Azurity”) is pleased to announce the closing of its acquisition of Slayback Pharma LLC (“Slayback”) today from existing investors including KKR, a leading global investment firm, and Everstone Capital. Slayback is now a wholly-owned subsidiary of Azurity.

The acquisition brings together companies with complementary strengths, enhancing Azurity’s ability to realize its purpose of Serving Overlooked Patients. The combined development portfolios are expected to yield a significant number of new medicine launches over the coming years.

Azurity leverages its integrated capabilities and vast partner network to continually expand its broad commercial product portfolio and robust pipeline. The company’s patient-centric approach is evident in its diverse array of products catering to various medical needs, including cardiovascular, central nervous system, endocrinological, gastrointestinal, anti-infectives and oncology. Many of Azurity’s medicines are dose-form innovations for patients with needs that are not met by other commercially available therapies.

“I am delighted to announce this combination and the increased potential it brings to do more for overlooked patients,” said Richard Blackburn, CEO of Azurity. “The complementary expertise of the two companies in developing innovative dose forms will result in a strong pipeline of new medicines to meet the needs of patients. We will bring the commercial expertise of Azurity to Slayback’s pipeline and look forward to introducing an even wider range of dose-forms and formulations to meet a broader set of patient needs.”

“The combination of Slayback and Azurity is a union of highly complementary capabilities: Azurity’s innovative commercial acumen and Slayback’s exceptional R&D platform. I am proud of Slayback’s team, our track record of developing complex products with unmatched speed at scale, and the rich history we have built together. I am delighted to join forces with Azurity to help forge a combined entity that is truly one of a kind” added Ajay Singh, Founder and CEO of Slayback.

“We are pleased to add Slayback’s complementary product pipeline and robust R&D capabilities to Azurity. The acquisition of Slayback accelerates Azurity’s strategic growth plan and enhances our ability to launch multiple innovative new drug products into the market every year to serve overlooked patients,” said Jeff Edwards, Partner at QHP Capital, the majority owner of Azurity.

“We have enjoyed working closely with Ajay and Slayback’s impressive management team to scale and support the platform as a leading provider of complex pharmaceuticals,” said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR. “Together we have established an extensive pipeline that Azurity will further build upon, helping to increase accessibility to health care for patients.”

Greenhill & Co. served as financial advisor and White & Case served as legal advisor to Azurity.  Leerink Partners served as lead financial advisor and Raymond James as co-advisor to Slayback while Kirkland & Ellis served as legal advisor to Slayback.

About Azurity Pharmaceuticals:

Azurity is a privately-held pharmaceutical company specializing in providing innovative, high-quality medicines that serve overlooked patients. Azurity supplies a large number of products to treat a wide range of medical conditions. These include cardiovascular, central nervous system, endocrine, gastro-intestinal, anti-infective and oncology medicines. Many of Azurity’s medicines are dose-form innovations for patients with needs that are not met by other available products. Azurity’s medicines have benefited millions of people. For more information, please visit www.azurity.com.

About QHP Capital:

QHP Capital is an investor in technology and services companies in the life sciences and healthcare sectors. QHP traces its heritage back to Quintiles (now IQVIA) and NovaQuest Capital Management. QHP has built an investment platform to provide strategic capital and industry expertise in partnership with strong management teams. The investment team consists of seasoned investment and operational professionals with significant investment experience and deep life science and healthcare expertise. QHP benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing, and growing QHP’s portfolio companies. QHP also manages the NovaQuest Private Equity funds. For more information, please visit www.qhpcapital.com.

Contacts:

For Azurity Pharmaceuticals
Ronald L. Scarboro
rscarboro@azurity.com


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GBA Group expands range of toxicology services

Fields Group

Hamburg/Roßdorf, 20. September 2023. GBA Group is expanding its range of toxicology services for customers in the chemical, medical device and pharmaceutical industries with the acquisition of ICCR-Roßdorf GmbH (ICCR-Roßdorf) from investor FIELDS Group. This acquisition underlines GBA Group’s ambition to position itself broadly as an international life science service provider through targeted portfolio expansions and investment in leading CROs.

Today’s ICCR-Roßdorf GmbH (Institute for Competence Contract Research – Roßdorf) was founded in 1986 and has its headquarters with almost 100 employees in Roßdorf near Darmstadt. The focus of ICCR-Rossdorf is the investigation of the genotoxic potential of pharmaceuticals, agrochemicals, cosmetics and chemicals. For customers in the field of medical devices, the service portfolio is supplemented with modified protocols for the investigation of the effects of extracts.

Dr. Sabine Gorynia, Executive Vice President Pharma & Medical Devices, GBA Group, underlines the synergies resulting from the merger: “With more than 30 years of experience, one of the world’s leading Gentox providers enriches the portfolio and business network of GBA Group. We are pleased to further strengthen our growth in the preclinical area together with our colleagues from ICCR-Roßdorf and to be able to offer our national and international customers another important component in an even broader service portfolio.”

Dr. Markus Schulz, Managing Director of ICCR: “The constructive and open discussion in the run-up to the transaction showed that the closer cooperation between GBA Group and ICCR-Roßdorf offers great opportunities. This applies both to the broad use of the solutions and expertise we have developed in the toxicology field within the GBA Group and to joint projects in the development of innovative assays in new areas of application.”

 

About GBA Group

GBA Group is an international life science service company with more than 2,000 employees in 8 countries and a broad range of analytical, logistical and specialist services in the fields of pharmaceuticals, medical products, cosmetics, chemicals, food, drinking water and the environmental sustainability. The range of services offered by the GBA Group includes laboratory analytics, data management, special logistical services for clinical trials, as well as consulting services for private companies and public institutions in connection with their activities in the fields of research, product development, market development, and consumer protection. Through its work, the GBA Group makes a sustainable contribution to public health, the environment and society as a whole.

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing businesses with potential. FIELDS invests in companies headquartered in the Benelux and DACH regions and achieves fundamental transformations with its team.

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Controlant announces $40 million in new financing from Apax Credit Funds

Apax

Controlant, a global leader in real-time pharma supply chain monitoring and visibility technologies, today announced it has received $40m in financing to support future growth from Funds advised by Apax Credit, the credit-investing arm of Apax Partners LLP (“Apax”).

Controlant is a global leader in the digital transformation of pharma supply chains. The company’s vision is to deliver zero-waste supply chains for its partners and the planet through digitalisation, automation, and transformation of the pharma supply chain. Controlant‘s holistic solution framework encompasses cloud-enabled software platform, coupled with advanced IoT devices,  and cost-reducing operational services that increase supply chain efficiency and responsiveness while supporting quality, compliance, and sustainability efforts.

“As pharma companies continue to innovate at pace and introduce breakthrough medicines and vaccines, it is incredibly important that modern supply chains match this pace and serve as enablers in ensuring medicines reach patients safely, and sustainably. That is our vision, and we are working tirelessly to create the next generation of zero-waste supply chains for our pharma customers”, said Gisli Herjolfsson, CEO and co-founder, Controlant.  “We are thankful for Apax Credit’s support on this journey, which will enable us to accelerate our roadmap of innovative solutions for our customers rapidly evolving and complex supply chain needs.”

The financing will help the company to accelerate growth, expand its already comprehensive and market-leading offering to global customers, and capitalise on strong tailwinds in the supply chain technology sector.

“Apax’s credit strategy provides flexible capital solutions for stand-out businesses across Apax’s four core sectors. Leveraging insights from across Apax and Apax Credit, we were pleased to provide a tailored solution for Controlant, designed to help the company in its next phase of growth”, said Albert Costa Centena, Principal, Apax Credit. “We are excited to partner with the team, leveraging our sector insights, operational expertise, and the wider Apax platform to support a business at the cutting edge of real-time visibility technology for pharma supply chains.”

– Ends –

About Controlant

Controlant is a global leader in the digital transformation of pharma supply chains. Our vision is to deliver zero-waste supply chains for our partners and the planet through digitalization, automation, and transformation of the pharma supply chain.

Our validated real-time visibility platform, command center, services, and advanced IoT devices, are trusted by many of the world’s leading pharmaceutical and logistics companies to make their operations significantly more reliable, cost-effective, and sustainable. Ultimately, our solutions help get life-saving medicines to more patients, curing more diseases.

With over 500 employees of more than 40 nationalities, Controlant continues to expand globally. Founded in 2007 and backed by a strong investor base, Controlant generated around USD 133 million in revenues in 2022. More information at controlant.com

 

About Apax Credit and Apax

Established 10 years ago, Apax Credit is fully integrated into the wider Apax Platform, fully leveraging Apax’ 50 years of experience. Like the Apax Private Equity Funds, the Apax Credit Fund focuses on investments in four core sectors: Tech, Services, Healthcare and Internet/Consumer, and within each they identify attractive sub-sectors where they can offer differentiated propositions to companies, their management teams, and wider stakeholders. The Apax Credit strategy benefits from a flexible mandate, allowing the team to focus on the credit solutions that offer the best fit in each case. For further information, please visit: https://www.apax.com/create/strategies/apax-credit/

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Jeito Capital co-leads eur 65 million (USD 71 MILLION) financing in Corteria Pharmaceuticals, a French Biopharmaceutical company

Jeito Capital
  • Jeito Capital co-leads oversubscribed financing
  • Corteria, a late preclinical stage company, is developing first-in-class therapies with promising novel approaches for unaddressed heart failure subpopulations, addressing high unmet medical needs
  • Jeito Capital marks its first investment in the cardiovascular space, further diversifying its strong portfolio

Paris, France, September 7th 2023 – Jeito Capital (“Jeito”), a global leading investment firm dedicated to healthcare and biopharma, announced today that it is co-leading a EUR 65m (USD 71m[1]) Series A financing round in Corteria Pharmaceuticals (“Corteria” or the “Company”), a biopharmaceutical company specialized in the development of transformative therapies for unaddressed heart failure subpopulations.

The oversubscribed financing was co-led by new investors Jeito and Orbimed, with participation from existing investors Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, and Omnes Capital.

Corteria was founded in 2021 by Sanofi’s former head of cardiovascular research, Philip Janiak and Marie-Laure Ozoux, former cardiovascular project leader at Sanofi, around two cardiovascular programs in-licensed from Sanofi[2].

Proceeds from the financing will be used to advance the Company’s heart failure pipeline into the clinic.

Since its inception, Corteria’s pipeline has expanded rapidly and comprises today three first-in-class therapies:

  • A once-daily subcutaneous CRF2[3] agonist for the treatment of Worsening Heart Failure. It is anticipated that Corteria will bring this lead asset, into clinical trials to validate the treatment pathway in early 2024.
  • A once-monthly subcutaneous CRF2[3] agonist, specifically developed for Right Heart Failure treatment. This compound also holds potential for broader applications in chronic cardiometabolic diseases, particularly those with coexisting conditions such as obesity and sarcopenia.
  • An AVP (arginine vasopressin) neutralizing monoclonal antibody for the treatment of Acute Heart Failure with Hyponatremia.

Jeito Capital has partnered with Corteria Pharmaceuticals, reflecting its vision to champion promising French and European biopharma companies with the potential to become global market leaders especially in Europe and the US. This collaboration marks Jeito’s first investment in the cardiovascular space, where emerging innovations and a supportive regulatory environment offer transformative potential for patient outcomes. Andreas Wallnoefer, Partner at Jeito Capital and with strong industry experience in the cardiovascular field, will join Corteria’s Board of Directors.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, commented: “With our first investment in the cardiovascular field, we are partnering with Corteria Pharmaceuticals, a French company with a global vision to address well-defined sub-populations of heart failure, with an urgent need for new and effective treatments. Corteria’s strong pipeline of assets, backed by a dedicated and highly experienced team with a proven track record in cardiovascular development, represents an exciting opportunity to expand treatment options. Their commitment to transformative therapies as a leading French biopharma with global aspirations perfectly aligns with Jeito’s mission, and we see great potential to make a meaningful difference in patient lives.”

Andreas Wallnoefer, Partner at Jeito Capital added: “Despite current treatments, heart failure is a progressing disease that impacts severely the lives of many patients and remains one of the leading causes of mortality worldwide. Corteria focuses on translating important therapeutic innovations in cardiology into clinical practice. Our investment in Corteria reflects Jeito’s commitment to address significant unmet needs in the realm of cardiology. We are excited to join forces with Corteria’s dedicated team to develop a portfolio of medicines with important clinical benefits for patients.”

“This financing marks a major milestone in our mission to bring therapies to heart failure subpopulations with high unmet needs,” said Philip Janiak, Founder and CEO of Corteria Pharmaceuticals. “We are extremely grateful to Jeito and OrbiMed as our new investors for their trust in our science and team and to our existing investors for their support and commitment since inception. We are looking forward to working all together to develop next generation transformative therapeutics.”

About Jeito Capital

Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on Twitter or LinkedIn.

About Corteria Pharmaceuticals

Founded in 2021, Corteria Pharmaceuticals is a privately held biopharmaceutical company developing first-in-class drugs in heart failure subpopulations. Despite some improvements in the management of this serious disease, the prevalence of heart failure keeps increasing with more than 60 million patients worldwide. Corteria’s strategy implies innovative patient stratification and target selection based on human evidence and a better understanding of the disease biology in patients with a focus on worsening and acute heart failure and right heart failure.

More information available at: www.corteriapharma.com

[1] Applying an 1.0886 EUR/USD exchange rate as of 30 August 2023 (Banque de France) rounded to $71m

[2] CRF2 peptide agonist and AVP neutralizing monoclonal antibody programs

[3] Corticotropin-releasing hormone receptor 2

For further information please contact:

Jeito Capital
Rafaèle Tordjman
Assia Mouhout, EA
assia@jeito.life
Tel: +33 6 76 49 37 94

Consilium Strategic Communications
Mary-Jane Elliott /
Davide Salvi / Kris Lam
Jeito@consilium-comms.com
Tél. : +44 (0) 20 3709 5700 

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