Slayback Pharma Secures $50 Million Series B Funding to Expand and Accelerate Its Differentiated Portfolio of Complex Generics and Specialty Pharmaceuticals

VCBeat (WeChat ID: vcbeat) has learned that on January 6, 2020, local time, Slayback Pharma LLC (“Slayback”) announced an agreement with Everstone Group (“Everstone”), under which the former will secure up to $50 million in its Series B financing round. The new capital will be used to expand and accelerate Slayback’s already robust and differentiated manufacturing pipeline for complex generics and specialty pharmaceuticals. In addition to the investment, Arjun Oberoi and Puncham Mukim, Managing Directors at Everstone, will join Slayback’s Board of Directors. Everstone joins existing institutional investor KKR, which initially invested $60 million in Slayback in December 2016.

Slayback Pharma is a company headquartered in New Jersey, USA, specializing in complex generic and specialty pharmaceuticals. With 85 employees, the company operates across the United States, India, and European countries. Since its establishment in 2011, Slayback has demonstrated remarkable performance in the filing, approval, and launch of numerous exclusive first-to-file Abbreviated New Drug Applications (ANDAs), 505(b)(2) applications, and complex generic patents. In the past year, Slayback’s 5 mL hydroxyprogesterone caproate vial ANDA was the first to be approved and launched in the U.S. market, allowing Slayback to maintain the largest market share. Prior to this achievement, Slayback had already showcased its exceptional execution capabilities through the approval and launch of many challenging products, such as propofol injectable emulsion.

Ajay Singh, Founder and CEO of Slayback Pharma, stated, “We are delighted to partner with Everstone to seek intelligent solutions for complex pharmaceutical challenges. Their experience in investing in and building pharmaceutical businesses focused on regulated markets will help accelerate the development of our robust pipeline and specialty products. We are particularly pleased to welcome Arjun and Puncham to our Board of Directors.”

Sameer Sain, Co-founder and CEO of Everstone Group, stated, “Slayback Pharma’s expertise in complex generics aligns perfectly with our healthcare investment strategy. Slayback Pharma joins our distinguished portfolio of healthcare investments, and we are optimistic about the commercial potential of its highly differentiated complex generics developed by its robust R&D team in India. We are excited to be part of Slayback Pharma as it prepares for its next wave of growth.”

Ali Satvat, Co-Head of KKR’s Healthcare Investment Team and a member of Slayback Pharma’s Board of Directors, stated, “Since our initial investment in Slayback Pharma, the company has achieved substantial business growth. As we look toward the next phase of Slayback’s development, we are pleased to partner with Everstone Group to further scale the company and its differentiated product portfolio.”

(Compiled by Ning Chen)