Vivante
Date of Investment: 5/29/2009
Deal Type: Recapitalization
Status: Exited 8/27/2010
MOIC: 2.3
IRR: 186%
COMPANY DESCRIPTION
Vivante GMP Solutions focuses on contract manufacturing of biologics for academic institutions, biotechnology companies and biopharmaceutical firms. Rather than developing its own drugs, it manufacturers drugs for other firms. A number of privately held biotech companies use the firm to produce their materials and to help conduct clinical studies for cancer and infection-disease vaccines.
CHALLENGE
In 2009, Genesis Park partnered with management to acquire the majority of Introgen Therapeutic’s manufacturing-related assets out of bankruptcy, and created the new organization Vivante GMP Solutions. Introgen had built out clean room facilities and developed manufacturing expertise for its internal use. The company needed to be rebranded and re-launched as a third party manufacturer of viral vectors for customers who needed scaled quantities for their biopharmaceutical portfolio assets.
GENESIS PARK VALUE ADD
Key Accomplishments:
TRANSACTION DESCRIPTION
Vivante was acquired in 2010 by strategic buyer, Swiss-based LONZA, one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries. Lonza plans to leverage the Vivante acquisition to broaden its biologics custom service offering for the viral vaccine and gene therapy markets.
Date of Investment: 5/29/2009
Deal Type: Recapitalization
Status: Exited 8/27/2010
MOIC: 2.3
IRR: 186%
COMPANY DESCRIPTION
Vivante GMP Solutions focuses on contract manufacturing of biologics for academic institutions, biotechnology companies and biopharmaceutical firms. Rather than developing its own drugs, it manufacturers drugs for other firms. A number of privately held biotech companies use the firm to produce their materials and to help conduct clinical studies for cancer and infection-disease vaccines.
CHALLENGE
In 2009, Genesis Park partnered with management to acquire the majority of Introgen Therapeutic’s manufacturing-related assets out of bankruptcy, and created the new organization Vivante GMP Solutions. Introgen had built out clean room facilities and developed manufacturing expertise for its internal use. The company needed to be rebranded and re-launched as a third party manufacturer of viral vectors for customers who needed scaled quantities for their biopharmaceutical portfolio assets.
GENESIS PARK VALUE ADD
Key Accomplishments:
- Formed new company, Vivante GMP Solutions, focused solely on third-party contract manufacturing of virus-based biologics (niche market with high upside)
- Funded much of the growth with sell off of other Introgen assets acquired in bankruptcy negotiation
- Negotiated structured equity participation with key management personnel
- Provided morale and enthusiasm for the new team around the new brand
TRANSACTION DESCRIPTION
Vivante was acquired in 2010 by strategic buyer, Swiss-based LONZA, one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries. Lonza plans to leverage the Vivante acquisition to broaden its biologics custom service offering for the viral vaccine and gene therapy markets.