CVC Capital Partners ("CVC") confirms that funds advised by CVC Asia Pacific Limited completed its USD105mn investment in Venturepharma Group ("Venturepharma" or the "Company"), an innovative specialty pharmaceutical company that operates in China.
Venturepharma is an integrated specialty pharmaceutical company that has a broad product portfolio in a number of fast growing therapeutic areas, particularly Central Nerve System (CNS) and Anti-Allergy. The Company has strong capabilities in product development, manufacturing and sales. Venturepharma holds a large number of product rights and patents in China, one of the highest in the industry. CVC's investment will be used to fund the growth expansion of the Company and further strengthen its R&D, manufacturing and sales functions.
Venturepharma was founded by Bill Guo, who previously worked at multinational pharmaceutical companies. Bill commented: "I am extremely pleased to have teamed up with CVC, one of the most successful private equity firms globally. With this partnership, Venturepharma is better positioned to achieve our goal of becoming a world-class pharmaceutical company in China. I believe CVC will not only provide us with financial capital, but also vast management experience."
Francis Leung, Chairman and Managing Partner of CVC, said: "CVC is very bullish about the potential of the China pharmaceutical industry which has been growing at double-digit rates over the past few years. We are impressed by the entrepreneurship of the management team and are excited to be a partner of Venturepharma Group. " William Ho, Partner, and Sunny Sun, Managing Director, jointly commented: "We are looking forward to work closely with the Company to seize the tremendous market opportunity of the China healthcare sector."
The deal was proprietary, originated and advised by the CVC Beijing team. CVC was advised by Clifford Chance, Deloitte, McKinsey, King & Wood and Deutsche Bank.