Beringea Growth Finance has provided 4.75 million pounds in funding to Speciality European Pharma Limited. Based in Europe, SEB is a urology firm.
LONDON – 13 Jan 2015 – Speciality European Pharma Limited (SEP), the pan European speciality urology company, has secured £4.75million from Beringea Growth Finance, provider of asset based and working capital finance. Beringea Growth Finance is part of Beringea LLP, the manager of the ProVen VCTs.
Founded in April 2006, SEP is a privately owned speciality pharmaceutical company. It focuses on products aimed largely at the urology or urogynaecology markets, primarily in Europe. The company acquires, licenses and distributes pharmaceutical products and medical devices aimed at its target markets.
SEP owns worldwide rights to Bulkamid, Mitem and Aquamid. Bulkamid is a urethral bulking agent, a minimally invasive treatment for urinary stress incontinence. Mitem is a cytotoxic medicine used in the treatment of a variety of cancers, including bladder cancer. Aquamid is facial filler used for cosmetic and reconstructive surgery. SEP also holds the distribution rights in the UK and the Republic of Ireland for Regurin XL and Regurin BD – treatments for overactive bladder. The company is developing a novel treatment for osteoarthritis, which has showed very promising early results for this debilitating condition. Development of this new osteoarthritis treatment follows on from the impressive results achieved by the company in treating lameness in horses.
Mark Taylor, Head of Beringea Growth Finance said: “SEP is an impressive business – well established and delivering some fantastic products to market. Patrick heads up a highly accomplished and experienced management team and we look forward to supporting them in their continued growth plans.”
Patrick Banks, CEO of SEP said: “The finance provided by Beringea Growth Finance will enable SEP to consolidate its position as a leading pan European speciality urology company and support us in future growth. We are very pleased to be working with Mark Taylor and the team at Beringea, who have extensive experience of our sector and of working with private equity backed businesses. The investment process was refreshingly clear and efficient and we look forward to working in partnership.”
About SEP – www.specialityeuropeanpharma.com
Speciality European Pharma (SEP) is a privately owned, international, specialist pharmaceutical company with a key focus on urology and urogynaecology. SEP is present throughout Europe and beyond to market a diverse portfolio of specialist products available to treat largely urological conditions.
About Beringea – www.beringea.co.uk
Beringea is an international growth capital firm with offices in London and Michigan, U.S.A, which invests in high growth companies. Beringea’s London office manages a number of funds, including the ProVen VCTs. Beringea is a generalist investor with sector expertise in Media, Healthcare and Retail. Beringea‘s previous investments have included Fjordnet, Espresso Education, Saffron Digital and Mergermarket.â¨Beringea LLP is authorised and regulated by the Financial Conduct Authority.
About Beringea Growth Finance – www.beringea.co.uk
Beringea Growth Finance, as part of Beringea, is focused on providing asset based and working capital finance. It looks to provide facilities from £1 million to £5 million over repayment periods usually of 24 – 48 months.
About the ProVen VCTs- www.provenvcts.co.uk
The ProVen VCTs (ProVen VCT, ProVen Growth & Income VCT and ProVen Planned Exit VCT) are funds raised under the government’s Venture Capital Trust scheme for supporting UK SMEs with equity investment. The original Ordinary share issues of ProVen VCT and ProVen Growth & Income VCT have generated higher Total Returns to investors than any other VCT share issues in their respective launch years (source: www.taxefficientreview.com,)