Great Point Partners Makes $22 Million Equity Commitment to Bionova Scientific
Great Point Partners today announced a $22 million equity commitment to Bionova Scientific.
GREENWICH, Conn. and FREMONT, Calif., June 3, 2019 /PRNewswire-PRWeb/ -- Great Point Partners ("GPP"), a Greenwich-based private investment firm focused on the health care industry, today announced a $22 million equity commitment to Bionova Scientific, a leading specialized biologics contract development and manufacturing organization ("CDMO"). GPP funded $13.3 million at closing, with a commitment to fund an additional $9 million over the next two years. Founded in 2014 and based in Fremont, CA, Bionova helps clients manage all aspects of biologics development and manufacturing, from early stage research material generation to process development to contract manufacturing services. Great Point's growth equity investment allows Bionova to complete the build out of a 57,000 square foot GMP facility in Fremont, CA with the capability to manufacture clinical grade protein therapeutics for its global customer base.
Bionova marks Great Point's second investment in the biologics CDMO space, as GPP previously invested in Cytovance Biologics.
"We are thrilled to once again invest in the biologics CDMO industry and look forward to replicating the success we had with Cytovance," said Noah Rhodes, Managing Director at Great Point Partners. "We have known Amy, Chung, and the Bionova team for a number of years and look forward to helping them better serve their customers through the build out of a first-class biologics GMP facility in the Bay Area."
"Great Point's long track record of investing in the pharmaceutical services industry and their previous experience with Cytovance made them an ideal partner to help accelerate Bionova's growth," said Amy Kong, CEO of Bionova.
"We have built a great relationship with Great Point and are excited to have them as partners, as we strive to better serve our customers in the Bay Area and around the world," added Chung Chun, COO at Bionova.
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 $280 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, 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 Bionova Scientific
Bionova Scientific is a dynamic, full service, biologics Contract Development and Manufacturing Organization (CDMO) on a mission to deliver the highest quality process development and manufacturing services to biologic drug development companies around the world. Bionova's renowned scientific expertise and dedication to its customers helps life changing therapies arrive to the market faster and more efficiently. At the heart of Bionova is a team of highly dedicated experts combining strong experience in cGMP biologics manufacturing and process development, with a technology-focused approach and a deep knowledge of the industry. Their expertise covers the bioproduction of a broad array of biomolecules including recombinant glycoproteins, Mabs, Fabs, enzymes, Fc-fusions, and bi-specifics. From early stage research material generation to Process Development and GMP manufacturing, Bionova's client-focused teams are fully committed to helping their clients fulfill their objectives in providing sustainable and affordable therapies for their patients. For more information, please visit http://bionovascientific.com/.
SOURCE Great Point Partners
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