PRINCETON JUNCTION, N.J. -- (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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005474/en/
Contacts:
KKR
Kristi Huller or Cara Kleiman
212-230-9722
media@kkr.com
Source: KKR & Co. L.P.
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