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MedPharm, Ltd., an Ampersand Capital Partners portfolio company, and Tergus Pharma, a Great Point Partners portfolio company, jointly announced a merger. The combined topical and transepithelial contract development and manufacturing organization (CDMO) 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 fuelled 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.
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.
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.
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).
Great Point Partners, founded in 2003 and based in Greenwich, CT, manages over $1.9 billion of capital in its private funds and public life sciences equity strategy (BioMedical Value Fund).
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