Admaius takes minority stake in Minapharm majority shareholder Triquera: Africa-focused private equity firm Admaius Capital Partners has acquired a minority stake in Triquera — which owns a 79.59% stake in local drugmaker Minapharm — the companies announced in a joint statement (pdf). The transaction was executed through a capital increase in Triquera and aims to accelerate Minapharm’s growth strategy, particularly in complex biologics and regional biotech leadership.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Where’s the money going: Minapharm licenses out proprietary platform technologies in monoclonal antibodies, vaccines, and cell and gene therapies — some of which are already used in FDA-approved products. The transaction “will focus on accelerating the development and production of complex genetically engineered therapies, while expanding access to high-quality, affordable recombinant proteins by investing in innovation and scaling distribution to better serve patients across underserved markets in Africa and the Middle East.”

We had an idea this was coming: A report earlier this month that the European Bank for Reconstruction and Development and Admaius were eyeing an indirect 15-20% stake in Minapharm via a capital increase in Triquera. And last year, Triquera announced that it signed a preliminary agreement with an unnamed investor looking to buy a minority stake in the firm through a capital increase, saying that the transaction would help it and its subsidiaries grow in the biotech field and support future investments in similar companies.

More to come? Triquera and Admaius will pursue strategic acquisitions of international contract development and manufacturing organizations to boost Minapharm’s growth.

What they said: “This partnership reflects the accelerating momentum of Minapharm’s growth as we extend our leadership in biotherapeutics, cell and gene therapies, and proprietary platform technologies,” said Minapharm CEO Wafik Bardissi. “We are pleased to be able to partner with Triquera… and will help to internationalize and grow the business further,” Admaius Managing Partner Marlon Chigwende added.

ADVISORS- Zilla Capital was the sole financial advisor to Triquera and its shareholders, and Matouk Bassiouny served as legal counsel on their side. Meanwhile, Admaius was advised by White & Case as legal counsel and Arthur D. Little as commercial advisor.

Tags: