CutisPharma has raised an undisclosed amount of equity funding from Ampersand Capital Partners. Silicon Valley Bank provided a senior credit facility to CutisPharma as part of the transaction. In addition to the financing, Ampersand’s Eric Lev and David Parker have been added to CutisPharma’s board of directors. Based in Wilmington, Mass., CutisPharma is a specialty pharmaceutical firm focused on developing value-added kits for the compounding pharmacy sector.
WILMINGTON, Mass., Jan. 6, 2015 /PRNewswire/ — CutisPharma, a specialty pharmaceutical company focusing on the development and commercialization of value-added kits for the compounding pharmacy market, announced today that it has closed an equity financing with Ampersand Capital Partners. As a part of the transaction, Silicon Valley Bank has provided a senior credit facility to further support the Company’s growth requirements. In conjunction with the financing, two Ampersand partners, Eric Lev and David Parker, have joined the CutisPharma Board of Directors. Financial terms of the transaction were not disclosed.
“We are very excited to partner with Ampersand” stated CutisPharma’s Indu Muni, Ph.D., founder, Chairman & CEO, “Ampersand’s expertise in specialty pharmaceuticals, and in particular its experience in the compounding pharmacy sector, will be invaluable as CutisPharma looks to aggressively pursue its long-term strategic plan.” Founded in 1998, CutisPharma develops and commercializes unit-of-use kits to aid pharmacists with the preparation of compounded prescriptions. CutisPharma’s rapidly expanding portfolio of kits is utilized in retail and hospital pharmacies across the United States.
“We welcome the opportunity to collaborate with Dr. Indu Muni and Neal Muni, MD, MSPH, President of the Company, and the rest of the CutisPharma management team and look forward to helping the Company continue its impressive growth trajectory” said Eric Lev of Ampersand. “CutisPharma is an excellent fit with Ampersand’s strategy of partnering with healthcare entrepreneurs in middle market companies to accelerate growth. We are attracted to the unique value proposition of CutisPharma’s products, which offer pharmacists safe, high quality solutions that increase standardization and improve efficiency in the compounding process.”
CutisPharma, Inc. based in Wilmington, MA, is a privately held, specialty pharmaceutical company focusing on the development and commercialization of value-added, proprietary pharmaceutical products and technologies in the prescription compounding sector of the healthcare industry. The product line and development efforts are focused on providing optimized, more efficient alternatives for the preparation of the nearly 20 million compounded prescriptions, by offering FIRST® Unit-of-Use Prescription Compounding Kits. Use of these branded compounding kits benefits all key stakeholders, including physicians, pharmacists, and patients. Several U.S. patents have been issued to the Company with additional patents pending, including “Composition and Method for Vancomycin Oral Liquid.” For additional information, visit www.cutispharma.com.
Ampersand is a middle market private equity firm with a focus on growth equity investments in the Healthcare sector. Over the past two decades, Ampersand has managed $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.