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Acquisitions Enhance Bioniche Pharma's Product Portfolio and Leverage New Manufacturing Facility
LAKE FOREST, Ill., May 23 /PRNewswire/ -- RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that its portfolio company Bioniche Pharma Group Limited ("Bioniche Pharma") has acquired three branded pharmaceutical products: Cystistat(TM), RIMSO-50(TM) and Cryoserv(TM). Cystistat was purchased for CND$10 million. Financial terms of the RIMSO-50 and Cryoserv acquisitions were not disclosed. RoundTable and each of Bioniche Pharma's minority shareholders made additional equity investments to fund the acquisitions.
Bioniche Pharma is a leading developer and manufacturer of injectable pharmaceuticals. Cystistat is a patented, frontline therapy for Interstitial Cystitis and other glycosaminoglycan ("GAG") layer deficiencies of the bladder and was purchased from Bioniche Life Sciences, Inc. ("BLSI"), the former parent company of Bioniche Pharma. RIMSO-50 and Cryoserv were purchased from Edwards Lifesciences ("Edwards"). RIMSO-50 is a leading treatment for Interstitial Cystitis in the United States and Canada. Cryoserv is used as a stem cell preservation agent and is sold primarily in the United States with some sales in Europe.