Apposite Capital and Kelso Pharma have acquired Stirling Anglian Pharmaceuticals.
Kelso Pharma is headed by Dr Tom Stratford, previously chief executive at Kyowa Kirin International (KKI), the European and US business arm of Kyowa Kirin, which purchased Scottish Borders-based ProStrakan Group in 2011.
He is joined by former KKI chief financial officer Allan Watson, and former KKI general counsel Andrew McLean.
The acquisition of Glasgow-based Stirling Anglian - for an undisclosed sum - should provide an initial UK platform for future sales growth through further acquisitions, product in-licensing and geographic expansion within Europe.
Stirling Anglian’s brand portfolio includes three medicines that are already in the UK healthcare market.
Stratford said: “Our aim is to enhance value for the healthcare system by providing branded medicines that improve the lives of patients in a cost-effective and ethical way.
“Stirling Anglian’s business is a perfect fit with that vision and with Apposite Capital’s financial support it provides us with a UK platform from which to grow, not just in the UK but elsewhere, as we build a pan-European specialty pharma business.”
Sam Gray, managing partner at private equity firm Apposite added: “We are delighted to be partnering with such a talented and proven team of executives given their phenomenal track record in executing acquisitive and organic growth in the specialty pharmaceuticals sector.
“Given its growth profile, the acquisition of Stirling Anglian represents an attractive first entry point into the UK market and we share the ambition of the team to create a significant pan-European business with a focus on innovative affordable medicines.”
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