Great Point Partners Completes Growth Equity Investment in Tergus Pharma to Build New 100,000 Square Foot Manufacturing Facility for Topical Pharmaceuticals
Great Point Partners Announces Growth Equity Investment in Tergus Pharma
GREENWICH, Conn. and RALEIGH, N.C., June 8, 2019 /PRNewswire-PRWeb/ -- Great Point Partners ("GPP") today announced a growth recapitalization of Raleigh, North Carolina-based Tergus Pharma, a leading contract development and manufacturing business for topical dermatology pharmaceuticals. Tergus provides formulation development, in vitro permeating testing (IVPT), in vitro release testing (IVRT), skin biology, analytical services, and clinical manufacturing services for branded and generic dermatology products. Great Point's investment will allow Tergus to build a state of the art commercial manufacturing facility in Raleigh, NC that will begin construction in July 2019. The new 100,000 square foot facility will have Clinical Trial Material (Phases I thru III) Supplies and commercial manufacturing capabilities and expand current capacity by over 400%.
"Great Point's expertise and successful track record growing pharmaceutical services companies was evident when they proactively approached us about a partnership. For years we have discussed building a commercial facility. The equity capital from GPP will enable us to do this and we will be able to better serve our customers by offering end-to-end services including commercial manufacturing," said Vijendra Nalamothu, Ph.D., CEO of Tergus. "Great Point's experience, network, and success in current and previous outsourced pharmaceutical services investments was a true differentiator."
"Tergus has differentiated itself as a leader in the complex topical dermatology development space that has been growing at approximately 15% per year," said Rohan Saikia, Managing Director at Great Point Partners. "Tergus' reputation within topical dermatology is unparalleled and we are thrilled that Tergus will now be a 'one-stop-shop' from clinical development to commercial manufacturing for all of their clients."
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.6 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has committed capital of $286 million. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.1 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, hospital outsourcing and alternate site care, and information technology enabled businesses. 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 Tergus Pharma
Tergus, an end-to-end service provider for topical pharmaceutical research, drug development, testing and manufacturing company, has been an industry leader for several years with a state-of-the-art facility in Durham, North Carolina. The company has a long and stellar reputation for delivering quality results to clients from formulation through manufacturing, which is why people say, "Think Topicals, Think Tergus." A systematic and scientific approach is used to thoroughly understand product components, processing, and finished product attributes to ensure high quality product throughout the course of development. Tergus helps its client achieve a balance between a fast-tracked program and quality science. For more information, please visit https://www.terguspharma.com/
SOURCE Great Point Partners
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