3P Biopharmaceuticals (3P) announced Keensight Capital as its new major investor.
The incorporation of this new main shareholder comes after INFARCO, the previous major partner, decided to culminate their strategic business venture. By providing 3P with a qualitative and quantitative leap in terms of capacity, equipment, technology, talent, and by promoting a stimulating professional environment.
“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,” Dámaso Molero, 3P Biopharmaceuticals CEO, 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,” Pierre Rémy, Managing Partner at Keensight Capital, also said. “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.”
“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,” Enrique Ordieres, president of Infarco said.
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.