Nephron, Partners Announce $350 Million Capital Raise for Future Growth
WEST COLUMBIA, S.C., Sept. 15, 2023 /PRNewswire/ -- Nephron Pharmaceuticals Corporation ("Nephron") today celebrated a successful $350 million capital raise – led by BlackRock Capital Investment Advisors, LLC ("BlackRock") and PNC Bank, National Association ("PNC) – to support future growth of the pharmaceutical manufacturer.
The announcement was the culmination of collaboration among leaders at all three entities and kicked off a new era of unlimited potential for Nephron, a company known for bringing jobs to South Carolina and delivering life-saving medications to patients from coast to coast.
"When I had the honor of assuming the role of CEO at Nephron, I had a vision that included expanding the reach of our company to deliver life-saving medications to as many patients as possible," said Nephron CEO and Owner Lou Kennedy. "We have never lost our focus, we have continued to grow, and, with this partnership, we are in the position to thrive. This is something we can all celebrate, as we help patients and doctors far beyond the borders of our state. I thank our partners at BlackRock, PNC, and not to mention, many others who have invested in our cause and had our backs. We look forward to working together for many years to come."
Huron Transaction Advisory LLC served as Investment Banker and Huron Consulting Services LLC acted as Financial Advisor while John A Sowards LLC and Maynard Nexsen PC served as Legal Counsel to Nephron. White and Case LLP and Ropes & Gray LLP served as Legal Counsel to BlackRock, while Blank Rome LLP served as Legal Counsel to PNC.
A West Columbia, S.C.-based company, Nephron develops and produces safe, affordable generic inhalation solutions and suspension products. The company also operates an industry-leading 503B Outsourcing Facility division which produces pre-filled sterile syringes, luer-lock vials, IV bottles and IV bags for hospitals across America, in an effort to alleviate drug shortage needs. For more information, please visit www.nephronpharm.com.
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SOURCE Nephron Pharmaceuticals Corporation