Palatine Private Equity has completed the seventh investment from its Impact Fund, with the acquisition of a significant minority stake in tranScrip, a fast-growing global business playing a key role in the innovation and commercialisation of new medicines, including treatments for Covid-19.
Headquartered in the Thames Valley, tranScrip provides a wide range of specialist professional services to pharma companies, ranging from global players to dynamic, fast-growing biotechnology companies.
Operating internationally, tranScrip is playing a leading role in accelerating innovation in healthcare, enabling people to live longer and healthier lives.
Led by co-founders Managing Partner Dr Flic Gabbay, who has more than 35 years’ experience in the pharmaceutical sector, and Deputy Managing Partner Dr Marcin Mankowski with over 25 years in the industry, tranScrip has a unique skilled team combining in-depth pharmaceutical expertise and functional competencies to lead and operationally deliver successful development programmes and product launch across multiple therapeutic areas, including oncology, infectious diseases, respiratory and rare diseases.
Since its formation in 2008 the company has worked with more than 250 companies in Europe, North America and Asia, including most of the world’s largest pharmaceutical companies as well as many biotechs.
Palatine’s GBP100 million, returns-focused Impact Fund is dedicated to backing profitable businesses making a positive impact on the environment or society. Palatine was the first mainstream private equity house to raise an Impact fund, reflecting its progressive agenda of putting purpose and responsibility as central to its investment strategy.
Dr Flic Gabbay, Managing Partner at tranScrip, says: “We are delighted to have investment from the Palatine Impact Fund. Palatine’s creative and innovative approach to funding aligns closely with the business principles of tranScrip. Palatine’s investment, combined with their strategic support, will help us to expand our unique services to reach more organisations with our innovative business model. We are in an extraordinarily exciting period of disruptive growth in the life sciences sector, which is poised develop many exciting new drugs and devices faster than we would ever have imagined. tranScrip is looking forward to playing an even more significant role in the future.”
Tristan Craddock, Partner in Palatine’s Impact Fund, says: “tranScrip is an agile and forward-thinking business delivering incredibly important services to accelerate the development of new medicines and treatments at a time of unprecedented investment and interest in the healthcare sector. The work it is doing to help people live longer, healthier lives, make this a classic Impact investment and we are looking forward to working with Flic, Marcin and the team to grow the business, both organically and using our sector experience to assess buy-and build opportunities.”
As part of the investment, Palatine has appointed experienced executive Paul McCluskey, the former CFO and CEO of private equity backed clinical research company Concept Life Sciences, and CFO of Synexus Clinical Research as non-executive Chairman.
Palatine was advised on the transaction by law firm Gateley, CIL Management Consultants, and BDO financial due diligence.
