3P Biopharmaceuticals welcomes Keensight Capital as majority shareholder
23 July, 2019 | General
3P Biopharmaceuticals (3P), a leading Contract Development and Manufacturing Organisation (CDMO) specialized in the process development and GMP manufacturing of biologics announces Keensight Capital, one of the European leading players in Growth Buyout, specialist in the IT and Healthcare sectors, as its new major investor.
The incorporation of this new main shareholder comes after INFARCO, the previous major partner, decided to successfully culminate their strategic business venture. Therefore, this new partnership represents an important breakthrough for 3P. By providing 3P with a qualitative and quantitative leap in terms of capacity, equipment, technology, talent, and by promoting a stimulating professional environment, Keensight will consolidate 3P’s position as a leading CDMO on the international market.
As Dámaso Molero, 3P Biopharmaceuticals CEO, explained, “this is an exciting new chapter for 3P Biopharmaceuticals. We are extremely enthusiastic to work with Keensight Capital at such a crucial moment for our industry. With their global footprint and their expertise in the biologics field, I am highly confident that Keensight team will help us reach significant milestones in the coming years.”
Pierre Rémy, Managing Partner at Keensight Capital, also said “3P Biopharmaceuticals has differentiated in the market by offering an impressive range of services to its clients, is one of the few EU midsized players with commercial manufacturing capabilities. We look forward to partnering with 3P in its efforts to further expand its scale and impact in the healthcare biotech field while retaining the entrepreneurial culture that helped 3P become what it is today. We are particularly excited to be working with such a talented team of individuals, many of whom have been together since the very beginning of 3P.”
For Enrique Ordieres, president of Infarco, this operation represents a new opportunity for 3P to continue developing its great business potential. “We are satisfied to have fulfilled the objective that we set five years ago with 3P to develop and manufacture a biosimilar, and for having been able to contribute to the consolidation of a company that has great value for Navarra and that today is a benchmark in its field. We are convinced that with the experience in the health market of an international partner like Keensight new goals will be achieved.”
A new stage for 3P
One of the distinguishing features of 3P has always been transparency. Consequently, as Dámaso Molero explains “this new stage will reinforce our relationship with the current and future customers and will allow us to keep growing with each of them, and to accompany them in a solid, and robust vision of the future”.
With more than 240 employees and clients located worldwide, 3P has experienced a 23% annual revenue growth over the past 4 years. Accordingly, the company is strategically well-positioned in the biologics CDMO market, which is one of the fastest-growing healthcare sectors globally and is expected to grow at 13% annually from 2018 to 2022.
At the same time, Sodena, the financial instrument of the Government of Navarra for the development of business in the region, and 3P’s partner since its foundation, continues as a minority shareholder of the company, which “will contribute to continuing the region’s leadership in biomedicine and attracting new companies and investments” as added by Pilar Irigoien, General Manager at Sodena.