EUSA Pharma Announces Sale of Critical Care Business to SERB Pharmaceuticals
HEMEL HEMPSTEAD, England, July 11, 2018 /PRNewswire/ --
EUSA Pharma (EUSA) today announced it has entered into a definitive agreement with SERB Pharmaceuticals (SERB) for the sale of its critical care business. The agreement represents a strategic milestone for both companies, completing EUSA's transition into a rapidly growing biopharmaceutical company fully focused on oncology and rare diseases while further extending SERB's broad portfolio of medicines for rare and life-threatening diseases and confirming the company's ambition to grow its positioning as a key speciality pharma player covering niche indications. The agreement is subject to customary closing conditions and the companies anticipate completion in Q3 2018.
The transaction includes a portfolio of products, which are marketed across a range of countries, and EUSA's field-based critical care sales teams in the UK, France, Netherlands, Belgium and Poland. The portfolio is based around COLLATAMP(R), which is marketed for the prevention of infection during surgery across Europe and a wide range of countries outside the United States, including South Korea and South Africa.
Lee Morley, EUSA Pharma's Chief Executive Officer said, "The sale of our critical care business to SERB Pharmaceuticals is a major strategic milestone for EUSA Pharma as we complete our transition into a biopharmaceutical company fully focused on the oncology and rare disease fields. EUSA has made tremendous progress since forming in 2015, and achieved approval of two new oncology products last year. We plan to build on this momentum as we ramp up the EU roll out of FOTIVDA(R) in advanced renal cell carcinoma and QARZIBA(R) in high risk neuroblastoma, as well as preparing the QARZIBA(R) BLA for filing in the USA later this year. With EUSA driving rapid growth in its oncology franchise, both organically and through in-licensing, partnering and acquisition, we believe SERB's specialist hospital focus makes it the ideal home for our critical care business."
Jeremie Urbain, SERB's Chairman said, "We are pleased to have reached this agreement with EUSA Pharma as these products are a perfect fit with our Emergency Care and our Niche Specialist Pharmaceuticals franchises. We are highly excited to welcome EUSA's field-based critical care sales teams and believe that their expertise will further support the expansion of SERB and maximize the potential of our emergency care products portfolio. This transaction, alongside the acquisition of THYROSAFE(R) closed a few weeks ago, confirms the company's ambition to grow rapidly with the financial support of Charterhouse, leveraging SERB's proven M&A capabilities. We see these acquisitions as a key milestone in SERB's development and we are determined to continue to drive value creation through a combination of organic growth and further M&A."
EUSA Pharma was advised by Rothschild & Co. SERB was advised by Kronos Advisors.
About EUSA Pharma Founded in March 2015, EUSA Pharma is a world-class biopharmaceutical company focused on oncology and rare diseases. The company has commercial operations in the United States and Europe, and a wider distribution network in approximately 40 countries around the world. EUSA Pharma is led by an experienced management team with a strong record of building successful pharmaceutical companies, and is supported by significant funding raised from leading life science investor EW Healthcare Partners. For more information please visit http://www.eusapharma.com.
About SERB SERB is a European specialty pharmaceutical group focused on prescription medicines which address rare and life-threatening diseases. SERB has sales in c. 80 countries with a strong European footprint having operational offices in Brussels, Paris, London and Luxembourg and a growing presence in the United States. Following strategic acquisitions and targeted developments, SERB has succeeded in establishing a consistent drugs portfolio focused on niche specialty pharmaceuticals to ensure continuous availability of life-saving medicines and answer unmet medical needs. For more information, please visit https://serb.eu
EUSA Pharma Lee Morley Chief Executive Tel: +44(0)330-5001140
Rob Budge RJB Communications Tel: +44(0)1865-760969 Mobile: +44(0)7710-741241
SERB Pharmaceuticals Jeremie Urbain Chairman Tel: +32-2792-0500
SOURCE EUSA Pharma