Permira, a UK-based private equity firm, said that a company backed by its funds has agreed to acquire Neuraxpharm, a specialty pharma company focused on the treatment of the central nervous system (CNS) from funds advised by Apax Partners.
Financial details of the deal were not revealed.
Based in Spain and Germany, Neuraxpharm is engaged in developing and commercializing value-added medicines and consumer healthcare products for chronic patients with neurological and psychiatric disorders. Included in these are epilepsy, Alzheimer’s, Parkinson’s, depression, and psychosis.
Dr. Jörg Rockenhäuser – Head of DACH at Permira said: “We are very excited to join forces with Neuraxpharm. The team led by CEO Dr. Jörg-Thomas Dierks has built one of the most relevant European players in the CNS field. With our longstanding global track-record in successfully transforming market leaders and our proven expertise in the healthcare sector, the Permira funds will back Neuraxpharm to reach the next level of growth.
“Our joint goal is to create the leading European CNS specialty platform with further acquisitions and strong organic growth. This transaction also marks an excellent start for our strengthened DACH healthcare team, led by Florian Kreuzer who joined Permira a year ago.”
Neuraxpharm is said to have top positions in its key markets Germany and Spain, with a leading position in Europe in many of its more than 115 CNS molecules.
The Spanish pharma company has annual revenues of more than €460 million and has nearly 850 employees.
Dr. Jörg-Thomas Dierks – CEO of Neuraxpharm said: “We are very pleased to be partnering with Permira who are perfectly placed to support us in the next phase of our exciting journey given their experience of investing in healthcare and high-growth companies. Together we will drive further geographical expansion and strengthen our position as the leading CNS specialist.
“I would like to thank Apax Partners for the great partnership over the last four years, during which time we internationalised, invested significantly into our product pipeline and created a pan-European platform to support rapid and sustainable growth.”
Closing of the deal, which is subject to meeting of customary closing conditions, is likely to occur in the fourth quarter of 2020.
Earlier this month, Neuraxpharm acquired Buccolam (oromucosal midazolam), a prescription brand for the emergency treatment of epileptic children, from Takeda Pharmaceutical.