NextPharma completes sale of US affiliate
London, UK, 29th November 2012 – NextPharma Technologies Holding Limited, one of the leading contract manufacturers in Europe for the pharmaceutical, biotechnology and healthcare industries, is pleased to announce the sale of Bioserv Corporation, its US affiliate based in San Diego, to KESA Partners, Inc.
The sale supports NextPharma's growth strategy of focusing on its core specialty and conventional product and technology operating platform in Europe. NextPharma continues to expand its sales and marketing presence in North America and to develop long-term partnerships with North American customers.
Franck Latrille, Chief Executive Officer, NextPharma, commented: "The divestment of Bioserv represents a successful step in the implementation of NextPharma's strategy, enabling us to focus our growth strategy on NextPharma's core strengths and areas of expertise. I would like to thank Bioserv's employees for their efforts and contributions over the past years, and I wish each of them, as well as Bioserv's customers and new owners, a successful future."
Al Hansen, Managing Partner, KESA Partners added: "This is an exciting time for Bioserv. For almost 20 years, Bioserv has been known for its quality, flexibility and responsiveness to customers' unique requirements. Bioserv is well positioned to benefit from the increased out-sourcing in the pharmaceutical industry. Bioserv has a strong foundation to build upon and to add capabilities to its current service offering. By enhancing our capabilities and emphasizing excellence in quality and execution. Bioserv will become a leader in the contract manufacturing space."
Wells Fargo Securities, LLC served as financial advisor to NextPharma. Much Shelist served as legal advisor to NextPharma.
Executive Vice President Corporate Development
NextPharma Technologies Holding Limited (www.nextpharma.com)
Tel: +44 (0) 1483 479 120
Tel: +1 917 817 1326
Notes to Editors:
Bioserv, located in San Diego, USA, was founded in 1988 as a small boutique contract manufacturing organization servicing the pharmaceutical, medical diagnostics, medical device, biotechnology, and life science reagants industries.
Today, Bioserv is a leading boutique contract manufacturing service provider with over 35,000 square feet of facilities whose core competencies include aseptic and non-aseptic bulk formulation, filtration, stoppering, lyophilization services, labeling, finished goods assembly, kitting and packaging, as well as controlled temperature storage and distribution services to support pre-clinical, Phase I and II clinical trial drug products, medical device reagants, medical diagnostic reagants and kits, and life science reagants.
About KESA Partners
KESA Partners seeks small company equity investment opportunities in the pharmaceutical/healthcare sector where it can lead investments of small capital financing rounds ($100k - $3 million). KESA may partner with existing shareholders to benefit from unusual capital appreciation opportunities. KESA Partners seeks companies that are somewhat established but often have difficult to understand or complex business models and/or capital structures. Such businesses may require some capital and/or a management change. If a management change is required or desired, KESA Partners can provide interim management services and can recruit permanent management teams, often through its extensive existing network within the pharmaceutical/healthcare sector.