GHO Capital realises significant return with sale of FairJourney Biologics
July 01 2024 - 2:00AM
GHO Capital realises significant return with sale of FairJourney
Biologics
GHO Capital realises significant return
with sale of FairJourney Biologics
- Under GHO’s ownership FairJourney Biologics has become
an established leader in antibody discovery and development, with
more than 5x revenue growth since 2019
- GHO to reinvest in a minority stake to continue to
support the outstanding delivery of FairJourney’s founder and
management team, and to realise the further growth potential of the
company
London, UK – 1 July 2024:
Global Healthcare Opportunities, or GHO Capital Partners LLP
(“GHO”), the European specialist investor in global healthcare, is
delighted to announce the sale of a majority stake in FairJourney
Biologics (FairJourney), a global leader in antibody discovery and
development services, to Partners Group, one of the largest firms
in the global private markets industry, acting on behalf of its
clients. FairJourney will be further capitalised by Partners Group,
alongside GHO and FairJourney founder and CEO, António Parada.
Since its founding in 2012 in Porto, Portugal,
by scientists António Parada and Maria Pajuelo, FairJourney has
grown into one of the world’s most pre-eminent antibody companies.
Partnering with leading biopharma companies, FairJourney supports
more than 250 clients across the globe. The company has discovered
over 1,000 lead antibody candidates on behalf of pharmaceutical
groups since inception, of which 14 disclosed antibody therapies
are currently in active clinical development to treat unmet patient
needs across oncology, immunology, and cardiovascular disease.
GHO partnered with FairJourney in 2020 and has
supported the management team to transform the business, broadening
its service offering and geographic footprint to better serve an
international client base. This transformation included significant
investment in a world class R&D facility in Porto, Portugal and
the acquisition of Iontas in 2020, which added patented innovative
antibody discovery technology and further R&D labs in
Cambridge, UK. FairJourney’s scientific excellence, relentless
customer focus and end-to-end service offering uniquely position it
to accelerate its clients’ projects from idea to lead candidate,
ready for regulatory submission and clinical trials.
FairJourney’s continued growth is set to be
supported by strong market tailwinds including higher R&D
spending by the pharmaceutical industry, increased demand for
efficiencies leading to greater need for outsourcing, the
established track record of antibody-based therapies, and a
favourable regulatory landscape.
The Partners at GHO Capital
commented: “Realising this significant return through the
sale of FairJourney is a testament to the incredible ability of its
founders and team to build an industry leading antibody discovery
and development company. We are delighted to continue to support
Antonio and his team in this next phase of the company’s growth and
development and we have complete trust that the success we have
been able to achieve together will continue in the years to come.
We look forward to working with Partners Group to further broaden
FairJourney’s innovative offering, whilst maintaining its leading
position in the space.”
António Parada, Founder and Chief
Executive Officer, FairJourney Biologics, added: “Since
our establishment in 2012, we have worked tirelessly to become the
world’s leading antibody partner by providing our biopharma clients
with best-of-class service, cutting-edge science and innovative
technology. Our partnership with the team at GHO Capital, led by
Andrea Ponti and Edward de Nor, has been instrumental in helping us
achieve this. They have the specialist healthcare expertise and
network that is invaluable when rapidly scaling a company like
FairJourney and we could not have attained our global success
without them. We are delighted that they remain an investor and we
look forward to working with them and our new majority shareholder
Partners Group, who is well positioned to support us in expanding
our technologies, scientific leadership and service offering at a
global scale."
JP Morgan acted as the exclusive sell-side
advisor to the company and GHO. Reed Smith and CTSU acted as legal
advisors and Alvarez and Marsal for financial and tax matters.
L.E.K. Consulting acted for the company as commercial advisor,
Deloitte provided tax and structuring advice to GHO and Jamieson
Corporate Finance advised management.
-Ends-
Further information:GHO Capital Partners LLPT +44
20 3700 7440E IR@ghocapital.com |
|
For Media
EnquiriesICR Consilium Amber Fennell,
Angela Gray |
Tel: +44 (0) 7739 658 783ghocapital@consilium-comms.com |
About GHO Capital
Global Healthcare Opportunities, or GHO Capital
Partners LLP, is a leading specialist healthcare investment advisor
based in London. We apply global capabilities and perspectives to
unlock high growth healthcare opportunities, targeting Pan-European
and transatlantic internationalisation to build market leading
businesses of strategic global value. Our proven investment track
record reflects the unrivalled depth of our industry expertise and
network. We partner with strong management teams to generate
long-term sustainable value, improving the efficiency of healthcare
delivery to enable better, faster, more accessible healthcare. For
further information, please visit www.ghocapital.com.