Catalyst puts Therapure contract development unit up for sale: report

Canadian private equity firm Catalyst Capital Group is exploring options for Therapure Biopharma, Bloomberg reported.

Catalyst has hired Wells Fargo & Co to find a buyer for the contract development and manufacturing part of its business, the story said. The Therapure unit could fetch $400 million (US$302 million).

Catalyst is also interviewing banks to advise on an initial public offering for Therapure’s proprietary products division, Bloomberg said.

Update: Toronto-based Therapure is a maker of complex biotherapeutics, and a developer, maker and seller of its own blood and plasma-related therapeutic products. It was established in 2008 by Catalyst.

In late 2015, the company filed for an IPO and subsequently priced it to raise about $130 million. The issue included a secondary sale by Catalyst.

It was later announced the offering would be delayed because of prevailing capital market conditions.

(This story has been edited by Kirk Falconer, editor of PE Hub Canada)

Photo courtesy of fotohunter/iStock/Getty Images