Slayback Pharma Announces $60 Million in New Financing by KKR
January 05 2017 - 7:00AM
Business Wire
Slayback Pharma, LLC (“Slayback”), a privately held
pharmaceutical research and development company, announced today
the closing of a $60 million commitment by KKR, a leading global
investment firm. The financing will help Slayback enhance and
accelerate the development of its portfolio of complex generic and
specialty pharmaceutical products.
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Slayback is focused on expanding access to affordable health
care. Since early 2011, Slayback has filed, through its
out-licensing partners, numerous Abbreviated New Drug Applications
(ANDAs) and 505(b)(2) applications with the Food and Drug
Administration (FDA) for complex sterile and non-sterile dosage
forms such as Propofol Injectable Emulsion USP 1% and Generic
Zovirax (Acyclovir) Ointment) 5%, which the company announced last
month. Additionally, Slayback is focused on bringing first generics
to the market. Over the last five years, Slayback has developed two
complex sterile products, which became rare sole First-to-File
ANDAs with a Paragraph IV certification.
“In addition to being a highly regarded long-term capital
partner, KKR with its rich legacy in the pharmaceutical space and
its experience in scaling businesses will help Slayback achieve the
next level of growth,” said CEO Ajay Singh.
Ali Satvat, a Member of KKR who leads KKR’s health care growth
equity investing efforts, added: “In its development of thoughtful
generic products, we believe that Slayback has adopted a
differentiated approach to the marketplace. We look forward to
partnering with Ajay and his team to build and scale Slayback’s
product portfolio and help make health care more accessible.”
As part of the transaction, Ali Satvat and Neel Varshney of KKR
will join Slayback’s Board of Managers.
For KKR, the investment is part of the firm’s health care growth
equity strategy, which is focused on high-growth companies for
which KKR can be a unique partner in helping reach scale. The
investment in Slayback builds upon KKR’s experience in the
pharmaceutical value chain, including investments in Jazz
Pharmaceuticals, Arbor Pharmaceuticals, Gland Pharmaceuticals,
Coherus BioSciences, BridgeBio Pharma, PRA Health Sciences,
Capsugel and Walgreens Boots Alliance.
Leerink Partners LLC served as financial advisor to Slayback on
the transaction.
ABOUT SLAYBACK PHARMA LLC
Slayback is a New-Jersey based pharmaceutical company focused on
the development of complex generic and specialty pharmaceutical
products.
ABOUT KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit, and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners’ capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR &
Co. L.P. (NYSE:KKR), please visit KKR’s website
at www.kkr.com and on Twitter @KKR_Co.
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version on businesswire.com: http://www.businesswire.com/news/home/20170105005474/en/
KKRKristi Huller or Cara Kleiman212-230-9722media@kkr.com
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