3P Biopharmaceuticals Files for IPO Following Keensight Capital's Majority Acquisition to Tap into €10 Billion Biologics Market

On July 23, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that private equity firm Keensight Capital had acquired a majority stake in the biopharmaceutical company 3P Biopharmaceuticals from Infarco. The specific terms of the acquisition were not disclosed.

3P Biopharmaceuticals, a biopharmaceutical company under the Infarco umbrella, was founded in 2006 and is headquartered in Pamplona, Spain. The company specializes in the development and manufacturing of biologics and cell therapy products, leveraging mammalian, microbial, and yeast expression systems to develop and produce novel biological entities as well as biosimilars.

3P Biopharmaceuticals’ manufacturing facilities are certified by GMP, EMA, and FDA. The company provides comprehensive, quality-focused, and flexible services to its clients, fostering strong bidirectional partnerships. It develops tailored solutions for its customers, including cell line development, a full suite of analytical services, and regulatory support.

3P Biopharmaceuticals employs over 240 people across Europe, North America, Australia, and Asia, serving an extensive client base and achieving a 23% annual revenue growth over the past four years. The company is a leader in the biologics CDMO market, which is currently one of the fastest-growing sectors in global healthcare. The global market size is estimated at €10 billion, with an projected annual growth rate of 13% from 2018 to 2022.

Keensight Capital, founded in 2000 and headquartered in France, is a private equity and venture capital firm. The company specializes in mid-market investments and possesses deep expertise in the IT and healthcare sectors. Keensight Capital partners with high-growth, profitable companies, providing them with capital, strategic guidance, and operational support.

Keensight Capital is dedicated to investing in the Internet, media and information technology, healthcare, energy, life sciences, information and communications technology (ICT), medical technology, and software sectors. The firm’s investment focus is on Europe, particularly France and Italy. Currently, it operates in more than 90 countries worldwide, with annual revenues ranging from approximately €15 million to €250 million.

Regarding this acquisition, Dámaso Molero, CEO of 3P Biopharmaceuticals, stated: “This marks an exciting new chapter for 3P Biopharmaceuticals. We are enthusiastic about partnering with Keensight Capital and appreciate their support during this pivotal moment. Leveraging its investment network and expertise in the biologics sector, Keensight will guide us toward achieving milestone developments in the coming years.”

Pierre Rémy, Managing Partner at Keensight Capital, also stated, “3P Biopharmaceuticals stands out in the market by offering customers an impressive portfolio of services and is one of the few mid-sized companies in the European Union with commercial manufacturing capabilities. We look forward to partnering with 3P Biopharmaceuticals to further expand its scale and impact in the healthcare biotechnology sector, while helping it preserve its current corporate culture. We are particularly excited to collaborate with such a talented team, many of whom have been together since the founding of 3P Biopharmaceuticals.”

For Enrique Ordieres, President of biopharmaceutical company Infarco, this acquisition offers new opportunities for 3P Biopharmaceuticals to continue developing its significant commercial potential. “We have achieved the goal we set five years ago with 3P Biopharmaceuticals to develop and manufacture biosimilars. We believe that, leveraging the experience of international partners such as Keensight in the healthcare market, we will achieve new milestones.”

(Compiled by Cheng Tao)