A first investment by ERES III in healthcare

News - 5/29/2018

The ERES III funds will proceed with their sixth investment, acquiring a stake in Biovian, alongside Keensight Capital.

The ERES III funds, managed by Edmond de Rothschild Private Equity, will proceed with their sixth investment, acquiring a stake in Biovian, alongside Keensight Capital.

Founded in 2003, Biovian is a one-stop-shop CDmO (Contract Development and manufacturing Organization) for biopharmaceutical companies, providing manufacturing and development services from early stage to finished product. The company offers its expertise and state-of the art technologies for clients in many therapeutic areas including immuno-oncology, gene therapy and vaccine development. Biovian’s broad service offering includes comprehensive analytical solutions to support drug substance and drug product development and release, as well as analytical and microbiological testing of investigational and commercial drug substances, drug products or medical devices. Biovian is EMA certified for GMP manufacturing (incl. biopharmaceuticals, gene therapies and sterile aseptically filled products) and inspected by FDA. Biovian provides services to about 30 customers including international biotechs and biopharma companies from the U.K., E.U., U.S. and South Korea. Based in Finland, Biovian generates sales of €15 million and has 70 employees.

The outsourced biologics development market is a growing market space driven by structural changes in the pharma industry, such as a shift from chemical to biologics molecules and overall an increased complexity of molecules and growing share of outsourcing.

With this operation, Keensight Capital and ERES III invest a majority stake in order to support Biovian to:

  • Further extend the one-stop-shop concept and reinforce its services portfolio to support its clients over additional stages of their products’ life cycle,
  • Increase capacities, both in the complex microbial development space and in the booming viral vector and gene therapy market, and
  • Expand and further internationalize its current client base.

This investment represents the first investment of the ERES funds in the healthcare sector and also provides exposure to Northern Europe. Moreover, this is the first investment alongside Keensight Capital, one of the most successful growth buyout investors in Europe, with deep expertise in this sector.

The ERES III Fund is closed to any new subscription.