Pharmaceutics International, Inc. (Pii) Receives $93 Million In Growth Capital
Summary
HUNT VALLEY, MARYLAND, September 6, 2016 /PRNewswire/ -- Pharmaceutics International, Inc. ("Pii"), a contract development and manufacturing organization ("CDMO") based in Hunt Valley, MD, announced today that it has entered into a definitive agreement with a consortium of investors led by Signet Healthcare Partners and including Athyrium Capital Management, Hildred Capital Partners and Pharmascience Inc. Pursuant to the agreement, the consortium has invested $93 million in exchange for an equity stake in the company and debt refinancing. Pii fits well with our operational experience, and we look forward to working with founder Syed Abidi, new President Michael Bogda, and our partners Signet, Athyrium and Pharmascience, to achieve significant growth over the coming years." Signet is an active investor and partners closely with management teams to support growth and build successful businesses. Founded in 2014, Hildred has a particular interest in private equity, including situations where the principals can apply their extensive management experience to help a company reach its full potential. Founded in 1983, Pharmascience Inc. is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 60 countries.