Avista Capital invests in eMolecules
Avista Capital Partners (Avista), a private equity firm focused exclusively on healthcare, is to invest in eMolecules, a novel and fast-growing e-procurement platform for high-value chemicals and bioreagents used by pharmaceutical companies in drug discovery. Financial terms of the investment have not been disclosed.
Founded in 2005, eMolecules accelerates the drug discovery process by connecting pharmaceutical and biotechnology researchers with sophisticated reagents not offered by the usual commodity suppliers. The Company serves nearly 1,000 customers around the world, with more than 120 million SKUs that are sourced from more than 300 suppliers across 35 countries. eMolecules’ unique e-commerce platform makes it possible for customers to expeditiously search, find, and fulfil their reagent needs from anywhere on the planet. By eliminating the compromises researchers often must make when purchasing from commodity suppliers, eMolecules is able to significantly impact the pace of early-stage drug discovery.
“As pharma companies seek to simplify their supply chains and accelerate speed to market, eMolecules helps expedite drug discovery programs by reducing the barriers, time and costs associated with acquiring important research chemicals and biologic products,” says Sriram Venkataraman, Partner at Avista Capital Partners. “Avista is excited to support the growth potential eMolecules has demonstrated among its existing base of blue-chip pharma customers, as well as its expansion into other biopharma and academic customers. Additionally, we see significant runway for the eMolecules business model in a number of critically important product areas.”
“eMolecules has rapidly become the world's most popular source for synthetic building blocks based on its reputation for quality, fast delivery times and our unrivalled product offering. Our close partnerships with 14 of the 15 top pharma and biopharma procurement departments has revolutionised scientists’ ability to access these valuable reagents,” says eMolecules CEO Niko Gubernator, PhD. “In Avista, we have identified a partner who shares our perspective on how vital the customer is in building marketplace businesses. Moreover, everyone’s expectations for the pace of drug discovery have changed as a function of the world’s shared experience with the pandemic and we see Avista as the perfect partner to help us rapidly scale our business in response.”
Robert W Baird & Co served as exclusive financial advisor to eMolecules. Paul Hastings LLP served as legal advisor to eMolecules, and Ropes & Gray LLP served as legal advisor to Avista.