Healthcare Industry News: hydroxyprogesterone
News Release - January 6, 2020
Slayback Pharma announces investment of $50 million by The Everstone GroupPRINCETON, N.J. and MUMBAI, India and SINGAPORE, Jan. 6, 2020 -- (Healthcare Sales & Marketing Network) -- Slayback Pharma LLC ("Slayback") today announced an agreement with The Everstone Group ("Everstone") to invest up to US$50 million in Series B funding. The new capital will be used to expand and accelerate further Slayback's already rich and differentiated pipeline of complex generic and specialty pharmaceutical products. In addition to the investment, Everstone Managing Directors Arjun Oberoi and Puncham Mukim will join Slayback's Board of Directors. Everstone joins existing institutional investor KKR, who first invested in Slayback with a US$60 million commitment in December 2016.
Ajay Singh, Founder & CEO of Slayback, said: "We are delighted to partner with Everstone in our quest for smart solutions to complex pharmaceutical challenges. Their experience in investing in and building pharmaceutical businesses with a focus on regulated markets will help turbo-charge our growth pipeline of complex and specialty products. We are especially thrilled to welcome Arjun and Puncham to our board."
Sameer Sain, Co-Founder & CEO of Everstone, said: "Slayback's expertise in complex generics fits well with our healthcare investment strategy. Slayback joins our list of notable healthcare investments, and we are optimistic about the commercial potential of Slayback's highly differentiated pipeline of complex generics developed by its strong R&D team in India. We are excited to become a part of Slayback as it is poised for its next wave of growth."
Ali Satvat, Co-Head of KKR's Health Care investment team and member of Slayback's Board of Directors, said: "Since our initial investment in Slayback, the growth that the Company has achieved in its portfolio and pipeline has been rather remarkable. As we look ahead to the next chapter of Slayback's growth, we are delighted to be working with Everstone to help scale the Company and its differentiated products even further."
Slayback is a New Jersey-based company focused on complex generic and specialty pharmaceutical products with a team of 85 employees and operations in the U.S., India and Europe. Since its inception in 2011, Slayback has demonstrated a spectacular track record of numerous sole first-to-file ANDAs, 505(b)(2)s and complex generic filings, approvals and launches. In the past year, Slayback's ANDA for hydroxyprogesterone 5 ml vial was the first generic ANDA to be approved and launched in the U.S., and Slayback continues to hold the largest market share. Previously, Slayback has shown its excellent execution skills through the approval and launch of numerous difficult products such as Propofol Injectable Emulsion.
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
Source: Slayback Pharma
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