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Pharma Tech Outlook | Tuesday, September 21, 2021
A new investment round enables the pharmaceutical business to make significant advancements in its Horizon 2025 plan.
FREMONT, CA: Provepharm Life Solutions, a private French pharmaceutical business focused on developing novel uses for well-known compounds, has established a strategic investment of 120 million euros ($142.3 million). Tikehau Capital will supply the capital and will join the group's pool of banking investors, which already includes SocitGnrale, BNP Paribas, Banque Populaire Mditerrane, Crdit Agricole Alpes Provence, and Bpifrance. This additional investment will enable the firm to accelerate internal research and development and external expansion initiatives following its Horizon 2025 plan.
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“Tikehau Capital is delighted to support the Provepharm pharmaceutical group with its highly innovative projects and its ambition for international growth. We are grateful to Michel Feraud and his team for trusting us. As well as providing a private debt financing solution, Tikehau Capital will become a long-term partner of Provepharm, allowing it to capitalize on promising opportunities in high-growth markets,” says Cécile Mayer-Lévi, head of private debt activity at Tikehau Capital.
Provepharm Life Solutions has achieved exceptional achievements and continued significant growth in the 2020 financial year—despite the ongoing worldwide epidemic. This includes a 30 percent growth in revenue and the effective integration of a product portfolio following the purchase of Apollo Pharmaceuticals in December 2020. The firm intends to use the additional capital to plan substantial structural operations in the following years.
As a pharmaceutical laboratory, Provepharm's mission is to discover novel approaches to maximize the potential of all molecules to develop therapies that enhance the lives of patients. The group will maintain its capital independence by bolstering its financial resources through this significant and advantageous transaction.
“Our consistent performance, paired with our ambitious long-term plans, continues to strengthen our partnership with our financial partners. This new investment means that we can accelerate the timeframe for our Horizon 2025 strategic plan and actively contribute to advances in treatment that are sure to benefit patients,” explains Michel Feraud, CEO of Provepharm Life Solutions.
The company intends to consolidate its position as an international and independent pharmaceutical laboratory in the coming months, specifically by hiring additional staff in France and the United States and expanding the size of its laboratories in Marseille to continue managing its entire value chain.
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