The American investment company KKR & Co. Inc. has entered into an agreement to acquire the Swedish pharmaceutical company Immedica Pharma. This is reported in a KKR press release.
The Scandinavian investment company Impilo, as the founder of Immedica, intends to reinvest funds in order to become an equal owner of the company along with KKR.
KKR invests in Immedica through the KKR Health Care Strategic Growth Fund II, focused on investments in fast-growing healthcare companies with assets worth $4.0 billion.
KKR and Impilo intend to work with the board of Immedica to further develop the company, including the launch of the recently approved orphan drug Loargys, the acquisition of additional production assets and continued licensing.
KKR is also considering expanding production in the U.S. ahead of a regulatory filing and potential approval of Loargys by the U.S. Food and Drug Administration (U.S. FDA).
The transaction is subject to the usual closing conditions, including regulatory approval. Morgan Stanley & Co. and Latham & Watkins act as advisers to Impilo, while BofA Securities acts as a consultant to KKR.
Immedica Pharma was founded in 2018 by Impilo, a company with extensive experience in launching and commercializing orphan medicines in Europe. The company has formed a portfolio and a line of medicines in the field of hematology and oncology, as well as for the treatment of genetic and metabolic diseases. The headquarters is located in Stockholm (Sweden).
KKR has many years of experience in providing support to healthcare companies around the world, having invested about $20 billion in this sector since 2004.
KKR is one of the largest alternative asset management investment companies. KKR sponsors investment funds and has strategic hedge fund management partners. KKR's insurance subsidiaries offer pension insurance, life insurance and reinsurance products under the management of Global Atlantic Financial Group. The headquarters is located in New York (USA). Since its foundation, KKR has made 650 investments worth $675 billion. The company has assets worth $470.6 billion.
Impilo is a Scandinavian investment company specializing exclusively in investments in pharmaceuticals, medical technology, medical services and other healthcare-related industries. Impilo owns a portfolio of investments in healthcare worth 1.0 billion euros from leading Scandinavian and international investors.
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