Avista Pharma Solutions, which is backed by Ampersand Capital Partners, has acquired the contract research and development services business of SCYNEXIS. No financial terms were disclosed. Edgemont Capital provided financial advice to SCYNEXIS on the transaction.
NEW YORK and RESEARCH TRIANGLE PARK, NC, (July 27, 2015) – Today Edgemont Capital Partners, a leading independent investment banking firm providing merger and acquisition advisory services to healthcare companies, announced that it acted as exclusive financial advisor to SCYNEXIS, Inc. in the sale of its contract research and development services business to Avista Pharma Solutions. The deal was announced on July 23.
SCYNEXIS, a pharmaceutical company committed to the discovery, development and commercialization of novel anti-infectives to address significant unmet therapeutic needs, divested its contract research and development business to focus on development of its lead compound SCY-078. The contract research and development business includes a novel screening platform and technology utilized by leading animal health companies, as well as Good Manufacturing Practices Active Pharmaceutical Ingredient (GMP API) process chemistry and analytical service offerings for biotech and pharmaceutical companies. The transaction was led by David Blume, Managing Director and Head of the firm’s Pharmaceutical Services Group, Reid Petersen and Anish Dalsania.
“We are pleased to be part of this ‘win-win’ transaction which will allow SCYNEXIS to focus on development of its lead asset SCY-078 and provide a strong platform for this exceptional contract research, development and manufacturing business to capitalize on the strong market demand given the robust market conditions for outsourced pharmaceutical services,” said Blume.
“Edgemont was instrumental to us achieving our goals in this transaction, providing valuable advice and flawless execution. We are grateful for their efforts,” commented Dr. Marco Taglietti, CEO of SCYNEXIS.
As part of the transaction, Avista will occupy SCYNEXIS’ former research and GMP manufacturing facility in Durham, North Carolina and hire substantially all employees associated with the contract services research and development business. Avista is a contract development and manufacturing organization (CDMO) formed through the recent, strategic carve-outs of the CMC business of Array BioPharma, Inc. and contract services business of SCYNEXIS. Avista’s CEO is Patrick Walsh. Avista is a business unit of Accuratus Lab Services, Inc. (Accuratus).
Accuratus is a portfolio company of Ampersand Capital Partners.
About Edgemont Capital Partners
Edgemont Capital Partners, LP (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 providing merger and acquisition and financing advisory services to healthcare companies. The firm’s deep healthcare industry knowledge and extensive transaction expertise allows it to address healthcare companies’ strategic (M&A) and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.
For more information on Edgemont Capital Partners’ expertise in pharmaceutical services and other healthcare sectors contact David Blume at +1 (212) 867-8937 and visit www.edgemontcapital.com.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member firm of FINRA and SIPC.