CapVest completes recapitalization of Curium to accelerate its growth strategy, marking the largest transaction in nuclear medicine globally
Curium and CapVest have completed the recapitalization of Curium via a new Continuation Vehicle
The transaction valued Curium at circa $7 billion, representing the largest transaction in nuclear medicine globally
The recapitalization will accelerate Curium’s strategy to launch innovative, life-changing diagnostic and therapeutic solutions for cancer patients around the world
CapVest Partners LLP (CapVest), a global investment firm and Curium, a leading producer of radiopharmaceuticals, have completed the recapitalization of Curium via a new Continuation Vehicle (CV). The CV valued Curium at circa $7 billion, representing the largest transaction in nuclear medicine globally. Having completed the transaction, CapVest remains the controlling shareholder of Curium.
The transaction elicited wide support from existing and new institutional investors across the US, Europe, the Middle East and APAC. This includes lead investors ICG, TPG GP Solutions, CVC Secondary Partners and other investors such as Goldman Sachs Alternatives, Lunate, Pantheon, and Ardian. Curium also secured a minority investment from TPG Life Sciences Innovations. TPG’s life sciences platform focuses on innovative companies developing disruptive science to improve outcomes for patients in areas of high unmet medical needs. The high caliber of this investor base represents a strong endorsement of Curium’s track record of growth and innovation, as well as a strong belief in the future trajectory of the company in a market poised for exponential growth in the next 15 years.
Over the last decade, Curium has positioned itself as a global leader in nuclear medicine. Its vertically integrated, global supply chain reliably delivers diagnostic and therapeutic radiopharmaceuticals to more than 14 million patients in over 70 countries across 6 continents every year. Curium boasts a broad portfolio of diagnostic radiopharmaceuticals and has an exciting, late-stage pipeline of Radioligand Therapies (RLTs) targeting neuroendocrine and prostate cancers, the two largest indications in nuclear medicine.
The new CV broadens Curium’s investor base, increasing the financial resources available to support Curium in the next phase of its growth. In the future, the company will continue to launch innovative, life-changing diagnostic and therapeutic solutions for cancer patients, whilst building its pipeline of “next-generation” radiopharmaceuticals through internal development and strategic acquisitions or partnerships.
Renaud Dehareng, CEO of Curium, said: “We are delighted to have successfully completed this transaction with our partners at CapVest in record time. We are also proud to have received such strong investor interest, which endorses our unique positioning as the largest independent platform in nuclear medicine, with strong end-to-end capabilities across development, manufacturing, logistics and market access. This transaction positions us to accelerate the roll-out of our ambitious global strategy and drive further product launches, innovation and growth – all true to our passion to deliver life-changing solutions for healthcare professionals and millions of patients around the world.”
Kate Briant, Senior Partner at CapVest, said: “We are proud to continue supporting Curium on what has been a phenomenal journey since 2016. We are grateful to our existing investors for their continued partnership and are also very pleased to welcome new investors into Curium, for what we believe will be a compelling investment opportunity. Building on our successes delivered to date, we are confident that Curium is exceptionally positioned to continue to play a major role in an industry that we expect to double in size over the next 5 years and then double again.”
PJT Partners acted as lead financial advisor on the transaction, with Kirkland & Ellis acting as lead legal advisor.
