Funds advised by Marathon Asset Management are to acquire Kaléo, a privately held pharmaceutical company based in Richmond, Virginia.
The total base purchase price is approximately USD310 million in cash, less certain adjustments, and includes potential net revenue-based milestone payments of up to approximately USD70 million in cash for the 2022 and 2023 fiscal years, in a transaction that will provide liquidity for Kaléo shareholders upon closing. This new ownership structure will accelerate Kaléo’s growth serving patients at risk for anaphylaxis and other serious and life-threatening conditions.
An industry leader in human factors engineering and drug-device combination product development and manufacturing, Kaléo has developed the patented Aerio Auto-Injection Platform which can deliver a wide range of formulation volumes and viscosities to meet the growing unmet needs of the pharmaceutical industry.
