GUILDFORD, United Kingdom and DURHAM, N.C., July 8, 2024
/PRNewswire/ -- MedPharm, a global topical and transdermal
Contract Development and Manufacturing Organization (CDMO) and
Ampersand Capital Partners portfolio company, announced today a
merger with Tergus Pharma, a Great Point Partners portfolio
company. The combined organization will operate under the MedPharm
name, establishing a leading, end-to-end CDMO with robust
scientific, clinical trial manufacturing and commercial production
capabilities. As part of this transaction, Tergus Pharma CEO
Michael Kane has been appointed CEO
of MedPharm while Patrick Walsh will
continue to serve as Executive Chairman of MedPharm.
The merged business is well-positioned as a global leader in
delivering a full suite of drug development and manufacturing
services to innovators of all sizes focused on advancing topical
and transepithelial pharmaceuticals. The strategic combination of
Tergus and MedPharm's capabilities enables commercial
production and serialization to existing formulation
development, in vitro testing and clinical
manufacturing within one integrated organization. Expanded
capabilities will also include the development and manufacture of
hormone-based and highly potent drugs at the Company's GMP
manufacturing facility in Durham,
NC.
Michael Kane commented, "This
strategic partnership is an exciting opportunity to deliver
extensive pharmaceutical product development resources fueled by a
robust team of scientific experts while leveraging our cutting-edge
topical GMP facility to seamlessly meet our customers' commercial
production needs. With locations in both the United Kingdom and the United States, we are well positioned to
provide exceptional support to our existing and prospective
pharmaceutical clients."
MedPharm Executive Chairman Patrick
Walsh added "Pharma clients have been seeking a reliable,
integrated service offering for their ophthalmic, topical and
transdermal development and manufacturing projects. This merger
creates an immediate option with two organizations already
well-positioned in the industry."
Tergus lead investor Great Point Partners will retain
a significant minority ownership stake in the newly
combined MedPharm, while private equity firms Ampersand Capital
Partners and Bourne Partners Strategic Capital assume majority
ownership.
About MedPharm
MedPharm is an
end-to-end contract service provider of topical and
transepithelial products supporting early phase
research, formulation development and in
vitro testing services in addition to both clinical
and commercial manufacturing. For more than 25 years,
MedPharm has specialized in reducing risk
through its unique, industry-leading in
vitro testing and research biology models.
Well-established as the global leader in product
development for dermal/transdermal,
lung and nasal, mucosal
membrane, ungual,
otic and ophthalmic delivery,
MedPharm has locations in the United Kingdom and United States, including a new 97,000
sq. ft. state-of-the-art facility in
Durham, NC and is recognized
globally for its regulatory and technical expertise. For more
information, visit: medpharm.com or follow us
on LinkedIn.
About Ampersand Capital Partners
Founded in
1988, Ampersand Capital Partners is a middle market private equity
firm with $3 billion of assets under
management dedicated to growth-oriented investments in the
healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a
unique blend of private equity and operating experience to build
value and drive long-term performance alongside its portfolio
company management teams. Ampersand has helped build numerous
market-leading companies across each of the firm's core healthcare
sectors. For additional information, visit
ampersandcapital.com or follow us on
LinkedIn.
About Bourne Partners Strategic Capital
("BPSC")
Headquartered in Charlotte, N.C.,
Bourne Partners Strategic Capital is a private equity and growth
equity investment firm focused exclusively on the
pharmaceutical, pharma services and
consumer healthcare sectors (10 current portfolio companies).
As owners and operators with over 20 years of experience,
BPSC has investment, strategic and operational
experience in companies ranging from $5M to $3B in
equity value and seeks to align and partner with management teams
and other owners in these sectors to grow their business.
BPSC is a related company of Bourne Partners,
which offers investment banking and advisory services in the same
key focus areas For more information, please visit
Bourne Partners Strategic Capital.
About Great Point Partners
Great Point Partners,
founded in 2003 and based in Greenwich,
CT, manages over $1.9B of
capital in its private funds and public life sciences equity
strategy (BioMedical Value Fund). The
private equity funds invest across all sectors of the health care
industry with a particular emphasis on biopharmaceutical services
and supplies, alternate site care, medical device contract
manufacturing and information technology enabled businesses. The
firm pursues a proactive and proprietary approach to
sourcing investments and tuck-in acquisitions
for its portfolio companies. For additional information,
visit gppfunds.com or follow us on
LinkedIn.
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SOURCE MedPharm