Palatine takes minority stake in pharma consultancy
Palatine Private Equity has acquired a significant minority stake in a global company that plays a key role in innovation and commercialization of new medicines including the treatment of Covid-19.
TranScrip is headquartered in Wokingham and offers pharmaceutical companies a wide range of specialized professional services.
It is managed by the managing partner Dr. Flic Gabbay and the deputy managing partner Dr. Marcin Mankowski, who are both co-founders. The company has worked with more than 250 companies in Europe, North America and Asia.
For the past 12 months, tranScrip has focused heavily on Covid-19, where it leads and supports several antiviral treatment programs.
Palatine’s £ 100m Impact Fund has now backed the deal, making it the seventh investment.
Dr. Gabbay said: “We are excited about investments from the Palatine Impact Fund. Its creative and innovative financing approach closely aligns with tranScrip’s business principles.
“Palatine’s investment, combined with its strategic support, will help us expand our unique services to reach more organizations with our innovative business model.
“We are in an extremely exciting period of disruptive growth in the life sciences, where many exciting new drugs and devices can be developed faster than we ever imagined.”
Tristan Craddock, Partner at Palatine’s Impact Fund, added, “tranScrip is an agile and forward-thinking company providing incredibly critical services to accelerate the development of new drugs and treatments at a time of unprecedented investment and interest in the healthcare sector.
“The work it does to help people live longer, healthier lives makes this a classic impact investment. We look forward to working with Flic, Marcin and the team to grow the business both organically as well as our industry experience to evaluate the purchase – and create opportunities. “
As part of the investment, Palatine has named senior executive Paul McCluskey, former CFO and general manager of Concept Life Sciences, as non-executive chairman.
Palatine was advised on the transaction by the law firm Gateley, CIL Management Consultants and BDO.