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Provepharm Life Solutions receives €42M
New funding will enable pharmaceutical group to accelerate program of
international growth through acquisitions
Marseille, France, May 9, 2019 – Provepharm Life Solutions, a French independent
pharmaceutical and life sciences group which revitalizes known molecules, today
announces it has obtained a €42.5M ($47.6M) syndicated loan from several French banks,
including Société Générale, BNP Paribas, Banque Populaire Méditerranée and Crédit
Agricole Alpes Provence. This financing will allow the group to accelerate its development
through acquisitions.
Following strong progress in 2017, the group ended 2018 with record results and the
successful integration of a product portfolio resulting from its first company acquisition,
completed in October 2018. Provepharm plans to initiate similar and more important
acquisitions over the next two years.
The Marseille-based company, a world leader in providing pharmaceutical-grade methylene
blue, has reinforced its financial resources with this transaction. This also shows the
confidence of historic banking partners as well as a new bank that joined the pool.
“This syndicated loan, which was arranged by Société Générale and completed by BNP
Paribas, Banque Populaire Méditerranée and Crédit Agricole Alpes Provence, will help
accelerate the transformation of our group,” said Christian Käppner, chief financial officer
at Provepharm Life Solutions.
“In line with our strategic plan, the group aims to complete its strategy of revitalizing
molecules and expanding its drug portfolio. Future acquisitions should significantly diversify
our business while accelerating our ambitious research programs which are already
launched and on track,” said Michel Féraud, CEO of Provepharm Life Solutions.
Over the next few months, the company plans to strengthen its position as an international
and independent pharmaceutical laboratory with particular focus on the development of its
US subsidiary.
Advisors to the company:
Financial advisor: Bucéphale Finance (Jean-Marc Forneri, David Orban)
Legal advisor: BBLM (Fabien Saint-Seine, Myriam Cuvellier)
Advisors to the banks:
Legal advisor: Herbert Smith Freehills (Laure Bonin, Romain Guirault)
About Provepharm Life Solutions
Provepharm Life Solutions is an independent French pharmaceutical company. Since its
creation in 1998, the company has leveraged its expertise in fine chemistry for the
revitalization of known molecules. The first products developed were based on methylene
blue and are distributed in 25 countries around the world. Provepharm Life Solutions’
strategy consists of developing its range of products, applying its expertise for the
revitalization of other molecules and strengthening its international business.
www.provepharm.com