Aureos invests USD10m in Mexican clinical research organisation
The Aureos Latin America Fund (ALAF) has invested USD10m in a Mexican clinical research organisation, Investigación Farmacológica y Biofarmacéutica (IFaB).
ALAF is a fund established by Aureos Capital, a small and mid-cap private equity fund manager investing in global growth markets.
IFaB is a provider of outsourced research and development services to the pharmaceutical and biotechnology sectors.
The ALAF investment will allow IFaB to acquire additional state-of-the-art analytical equipment and to grow and develop its medical and research teams. Following the investment, IFaB will become a full service clinical research organisation which will allow it to perform more specialised studies for its clients.
Aureos has previously invested in the clinical research sector. Most recently, it exited its investment in India’s Accutest Research Laboratories. Following a period of growth, Aureos sold its stake to Global Pacific Partners.
Erik Peterson (pictured), Aureos’ senior partner in Latin America, says: “The clinical research industry, particularly in growth markets, is looking for investment. The expansion planned for IFaB is largely being driven by existing customer demand. Drug development can now be done more efficiently and more productively outside the traditional centers in the US and Western Europe.”
Dr. Fermín Valenzuela, who leads the IFaB team, says: “We are delighted to have Aureos as our partner in IFaB. I am confident that the experience Aureos has in our industry and the strong relationship that we have been able to develop with their Mexican team will be key factors in the future development and success of our company.”
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