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Chr. Olesen Synthesis A/S Completes Financing
Copenhagen, Denmark (ots/PRNewswire) - Chr. Olesen Synthesis A/S, the privately held Danish manufacturer of active pharmaceutical ingredients (APIs), announced it has raised EUR10 million through the sale of Series A Preferred Stock to the American private equity firm, Signet Healthcare Partners. Chr. Olesen Synthesis, founded in the 1970's, was taken over in 2012 in a financial restructuring led by Chr. Olesen Group, a 130-year old Danish distribution company. The Company intends to use these proceeds to increase its plant capacity and fund the development of hard-to-produce generic APIs. The partnership is expected to result in a significant increase of the Company's activities in the API market.
"We are very proud that we have succeeded in attracting attention from the international and well experienced Signet Healthcare Partners to partner with us in our API business. Chr. Olesen Synthesis is growing and we are sure to benefit from Signet's experience in both funding and supporting the development of the Company into the next level," says Mads C. Olesen, the Chairman of the Company.
"We are very grateful for the opportunity to become a shareholder in this growing company," said James Gale, a managing director at Signet who will be appointed to the board of Chr. Olesen Synthesis. "We are impressed with the chemical synthesis capability of the Company and its ability to provide excellent service to its customers. With this investment, we believe the business will have sufficient capacity to meet the demand for its APIs in the visible future."
About Chr. Olesen Synthesis A/S
Chr. Olesen Synthesis is a Danish manufacturer of selected APIs and advanced intermediates. Since its establishment in 2011, Chr. Olesen Synthesis has focused on building a new set-up and bringing the plant to a commercial stage. In short, Chr. Olesen Synthesis has successfully developed the manufacturing facility into a commercial multipurpose API manufacturing plant in 4 years.
Chr. Olesen Synthesis is initially active with API's comprising of molecules like Hydromorphone, Codeine Phosphate, Pramipexole, Terbinafine Risedronate, Tolfenamic Acid, Amphetamine derivatives and advanced intermediates for Buprenorphine and Tamsulosin.
Please visit Chr. Olesen Synthesis at http://www.chr-olesen.dk
About Signet Healthcare Partners
Founded in 1998, Signet Healthcare Partners provides growth capital to commercial-stage healthcare companies around the world. Over the past 16 years, Signet has organized three funds and completed investments in 44 companies with 26 exits. The team, comprised of five professionals with principal offices in New York City, brings over 100 years of collective healthcare experience in the specialty pharmaceutical, medical device, private equity and investment banking businesses. For more information, please visit Signet online at http://www.signethealthcarepartners.com.
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