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Catapult achieves its second successful exit in 2010
14/07/2010
Catapult achieves its second successful exit in 2010, with the sale of R5 Pharmaceuticals to Aescia Pharmaceuticals
Following its successful exit from Atlantic Link in March, Catapult is delighted to announce its second successful divestment of the year. Catapult made its initial investment in R5 Pharmaceuticals in December 2006 during the company’s start up phase, recognising the market opportunity and the ability of the management team to deliver on its strategy. Since this time R5, based in BioCity in Nottingham, has grown to become a leading developer and manufacturer of medicines and materials for phase 1 and phase 2 clinical trials.
Jonathan Earl, who led the transaction for Catapult, comments: “We are delighted to have been able to contribute to the success of R5, and to ultimately deliver an excellent return on our investment with a minimum IRR of 50%. The progression of the business to this successful sale is a reflection of the competency and dedication of the management team, and I am sure that this success will continue under the ownership of Aesica Pharmaceuticals.”
Submitted by Gemma Cann