Permira has agreed to acquire a majority stake in drug developer Quotient Sciences from companies controlled by healthcare specialist GHO Capital.
Liberty Corporate Finance advised the management team led by Chief executive Mark Egerton, who will continue to lead the company, Quotient and Permira said in an announcement. Financial details of the deal were not disclosed.
Quotient provides drug development, commercial and manufacturing services to the pharmaceutical and biotech industries. The company, which generates more than £100m in revenues, has more than 850 employees across six operating sites in the UK and US.
Healthcare specialist GHO invested in Quotient in 2015. Under its ownership, Quotient made large investments in operational infrastructure, according to the announcement.
Permira’s investment provides substantial new funding to fuel the next stage of Quotient’s growth, Egerton said. This includes broadening the company’s services portfolio and expanding development and manufacturing capabilities, he added.
Marcel Lacaze, principal in the global healthcare group of Permira said: “Quotient Sciences and its disruptive approach to pharmaceutical drug development have created a truly unique business model.”