The international speciality pharmaceutical group has raised funds to build on its portfolio and late-stage pipeline across established and rare disease medicines.
Surrey-based international speciality pharmaceutical group Essential Pharma has completed a €900 million (£744 million) round of financing. This was done through a Gyrus Capital single-asset continuation vehicle led by AlpInvest, a subsidiary of Carlyle Global Investment Solutions, and a new strategic financing facility with global investment firm Sixth Street.
Sixth Street is providing a new strategic financing facility made up of €300 million in structured equity and growth debt.
“This transaction provides us with substantial additional firepower, strengthening our ability to deliver essential medicines to patients who need them most,” said Essential Pharma chief executive Emma Johnson.
The transaction will allow Essential to build on its diversified portfolio and late-stage pipeline across established and rare disease medicines. Under Johnson, Essential Pharma has expanded into rare diseases, notable with the addition of Colobreathe, used to manage long-term lung infection, and Hu14.18, an immunotherapy in late-stage clinical development for the treatment of high-risk neuroblastoma.
Following the transaction, Lee Morley, appointed as non-executive director in 2023, will assume the role of chairman. Morley has long experience in the biopharmaceutical industry, in particular, he has knowledge of commercialisation, pricing, reimbursement and product launch strategy. He was a co-founder and chief executive of EUSA Pharma before the company’s €750 million acquisition by Recordati in 2022. Morley succeeds Patrick Vink.
Essential Pharma was acquired in 2019 by Geneva-based investment firm Gyrus Capital.
