Advent International to acquire stake in Felix Pharmaceuticals
Advent International, a leading global private equity investor, signed a definitive agreement to invest $175 million via primary and secondary for a significant minority stake in Dublin-headquartered Felix Pharmaceuticals, a leading global generic animal pharma player, stated a company release. Felix Pharma is a manufacturer of off-patent medicines for companion animals.
Felix develops, manufactures and supplies to distributors and other branded generic players for private labelling, particularly in the US. With a portfolio of 14 approved products from USFDA and many more under review and development, Felix has the widest portfolio of products in the industry.
'Felix is well positioned to lead this generic space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities. Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise,' said Shweta Jalan, Managing Partner at Advent.
Felix was founded in 2015 by Neeraj Agrawal, Sir Jonathan Symonds and Dr Shumeet Banerji, ex-CEO of Booz-Allen. While the company achieved its first US FDA approval in 2020, marking a pivotal step in its expansion, it has quickly scaled to a 14 commercialised product portfolio and has several others in advanced stages of pipeline, it said. It has a USFDA approved oral solid facility dedicated for animal health products and an injectable facility that is expected to be ready by Q3 2025. Neeraj Agrawal, Co-Founder of Felix Pharma, said, 'As we scale in a fast-evolving market, we were looking for a partner who brings not just capital, but also deep operating expertise and the right mindset and networks to help us grow faster and stronger.'
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