The management team of Speciality European Pharma Limited (SEP), today announced their acquisition of SEP from its venture capital shareholders, with the backing of Juno Pharmaceuticals Inc. (Juno), an international specialty pharmaceutical company and leading life science investor.
Headquartered in the UK, SEP is a specialty pharmaceutical and medical devices group that focuses on meeting the needs of the specialist physician. SEP was founded in 2006 and has grown rapidly over the past five years, with a commercial presence in much of Europe and a desire to grow beyond. The MBO provides SEP with the opportunity to not only continue its growth strategy with existing products but to also invest for the long-term in the untapped potential in its proprietary development portfolio. Near-term objectives for this investment include United States approval of Bulkamid, the group’s urethral bulking agent, and EU approval of Arthrosamid, the group’s synovial implant for osteoarthritis.
Commenting on the MBO, Patrick Banks, Chief Executive Officer of SEP, said:
“SEP is at an exciting juncture in its development. Having already established a strong commercial footprint in the EU, SEP acquired Contura, a medical devices business, in April 2013. This acquisition has proved a great success and with the increased financial strength that has come from substantial revenue growth and the backing that now comes from Juno, SEP is well placed to make the significant investments required to deliver its true potential.”
Commenting on the MBO, Ian Jacobson, Chief Executive Officer of Juno, said:
“We are very excited about our acquisition of SEP and partnership with its management team. SEP’s niche product portfolio and strategic focus aligns perfectly with Juno’s corporate mission and we look forward to building on SEP’s impressive track record of growth. We view SEP as a company that has only begun to realize its considerable potential and we are confident that in partnership with its existing management team, we can build SEP into one of Europe’s leading pharmaceutical and medical device companies.”
For further information please contact:
SEP Tel: +44 (0)20 7421 7400
Patrick Banks, Chief Executive Officer