Greenwich, CT and Oklahoma City, OK (PRWEB) October 07, 2015
Cytovance® Biologics, Inc. (“Cytovance”), a Great Point Partners (“GPP”) I, LP portfolio company and leading biopharmaceutical contract development manufacturing company (CDMO), announced today that it has been acquired by Hepalink USA Inc. (“Hepalink”) for $205.68M in cash.
Through the Cytovance acquisition, Hepalink USA Inc. and its parent company Shenzhen Hepalink Pharmaceutical Co., Ltd. add a leading biologics CDMO to its current U.S. operations. Cytovance manufactures protein and antibody drugs for biotechnology and pharmaceutical companies throughout the world.
“This transaction expands our ability to develop and grow both our domestic and international businesses and will accelerate our current expansion plans in our Oklahoma City facilities,” said Mr. Darren Head, President and Chief Executive Officer of Cytovance. He added, “Great Point Partners has been an outstanding private equity partner that arranged debt financings enabling growth, helped us recruit senior executives, and that provided Dr. Bernhard Hampl, former CEO of Sandoz USA, from their CEO Advisory Board as Co-Chairman.”
Noah Rhodes, a Principal at GPP and Board member of Cytovance, stated, “When we invested in Cytovance in 2011 it was a relatively unknown company that had all of the right ingredients to become an industry leading CDMO, and our equity investment and relationships with senior lenders enabled the company to execute on an accelerated growth strategy. Since our investment four years ago, Cytovance has grown its revenue at a compound annual growth rate of 45% and is now considered one of the preeminent biologics contract manufacturers in the world.”
About Great Point Partners
Great Point Partners ("GPP"), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $800 million of equity capital under management and 26 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million, and GPP II) and public (BMVF, approximately $400 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical infrastructure, devices and diagnostics, health care services, outsourcing, and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or http://www.gppfunds.com.
About Cytovance® Biologics Inc.
Cytovance® Biologics is a contract development manufacturing company specializing in the cGMP production of therapeutic proteins and antibodies from mammalian cell culture, microbial fermentation, transgenic processes, and small scale “flex suite” programs. In addition, Cytovance offers process development services, cell line development, purification development, stability testing, and regulatory support services – all from its Oklahoma City state-of-the-art facilities. Cytovance partners with clients to provide integral pathways in converting novel protein discoveries into lifesaving therapies and diagnostics.
Hepalink, together with its U.S. subsidiary SPL, is one of the largest suppliers of heparin sodium API in the world, distributing its products to the global market and to internationally renowned pharmaceutical companies. Hepalink was established in 1998 and was listed on the Shenzhen Stock Exchange on May 6, 2010. Hepalink’s headquarters are located in the Shenzhen High-Tech Park. More information is available at http://www.hepalink.com/en.