Private equity-backed pharmaceutical company acquires stroke drug from Bayer
Stanley Capital Partners, a London-based private equity firm, announced that Laboratoire X.O (LXO), its French portfolio company, has acquired a prescription drug for bleeding stroke patients from Bayer. The drug, nimodipine, is a second-generation calcium channel blocker designed to prevent and treat cerebral vasospasm following an aneurysmal subarachnoid hemorrhage (“aSAH”). Nimodipine is sold and marketed under the brand name Nimotop.
Financial terms of this acquisition have not been made public. The deal covers the sale of nimodipine/Nimotop in several markets around the world, but not China.
According to Stanley Capital, nimodipine is the only second-generation dihydropyridine calcium channel blocker approved in three different formulations: oral tablets, oral solutions and intravenous infusion solutions. The firm emphasized that this is a key acquisition going forward due to the world’s aging patient populations and “general lifestyle behaviors.”
“Stanley Capital is actively working with LXO management team to further strengthen and support the company through its next phase of growth and wider development,” Patrick Hargutt, founding partner at Stanley Capital, said in a statement. “The acquisition of Nimotop follows a highly impressive M&A track record with now 20 add-on acquisitions completed to date and a clear strategy to pursue further bolt-ons from our actively curated pipeline in established medicines.”
“We are very proud to take over the management of life-saving drugs such as Nimotop and are committed to maintaining and developing access to this treatment in more than 45 countries today,” added Karine Pinon, co-founder and CEO of LXO. “This acquisition strengthens our international footprint and offers exciting new opportunities for our future growth. We are thrilled with this development and determined to make the most of this opportunity for the patients, our employees and our shareholders.”
Stanley Capital was founded in 2019 and includes a team of more than 100 employees. It primarily targets investments in the healthcare and resource efficiency sectors. LXO, meanwhile, was first founded back in 2015 and specializes in non-generic prescription medications.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.