Leading Pharma gets $40 million infusion for growth
Generic maker Leading Pharma recently completed a financing transaction for $40 million of growth capital. The growth capital, led by Signet Healthcare Partners and Crestline Investors, will be used to expand the Fairfield, N.J.-based company’s pipeline and pay off debt.
“This investment allows us to accelerate the development of our robust pipeline to build a more comprehensive product portfolio,” CEO and co-founder Ronald Gold said. “We are excited to partner with prudent investors who have experience in the pharmaceutical industry and believe in our business model as well as our ability to develop and market new generic drugs.”
Alongside the funding, Leading Pharma announced that Signet Healthcare Partners managing director Nikhil Puri and Crestline Investors managing director Chris Semple will join the board of Leading’s parent company.
Leading began as a company that exclusively outsourced its product development work, but following its acquisition of Excellium Pharmaceutical in 2014, the company said it has its own research and development capabilities, as well as a 53,000-sq.-ft. manufacturing facility for solid oral pharmaceuticals.
“I believe Leading Pharma has the necessary building blocks in place, and is well positioned to capitalize on the vast opportunity that the generic pharma sector presents,” Puri said “Signet is very pleased to be partnering with the company at this important juncture, and we look forward to close collaboration with the leadership team at Leading Pharma”.
Crestline Investors’ Semple said, “Under the leadership of industry veterans Ron Gold and Rasik Gondalia, Leading Pharma is well- positioned to capitalize on its development strategy as the company has built an attractive pipeline of diverse, difficult-to-formulate products. We look forward to continued growth at the company under Ron and Rasik, who have both successfully founded and exited generic pharmaceutical companies in prior ventures.”
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