KKR to acquire Immedica Pharma, terms undisclosed

Investment funds managed by KKR, a global investment firm, have agreed to acquire Immedica Pharma, a pharmaceutical company headquartered in Stockholm, Sweden, focused on the commercialization of medicines for rare diseases and specialty care products. Existing owner, Nordic healthcare investment firm Impilo, will reinvest to become an equal owner alongside KKR. The transaction is subject to customary regulatory and closing conditions. KKR and Impilo will work together with Immedica’s management team to support Immedica’s continued growth, including the launch of the recently approved ultra-orphan drug Loargys, additional pipeline assets, and continued in-licensing and M&A. The company is also evaluating an expansion into the U.S. ahead of the regulatory filing and potential approval of Loargys by the U.S. FDA. Immedica Pharma was established in 2018 by Impilo and an experienced management team with a track record in launching and commercializing orphan drugs across Europe. The business has built up a portfolio and pipeline of drugs primarily within haematology and oncology as well as genetic and metabolic diseases, with revenues of EUR 100M and annual growth of more than 50%. Growth catalysts have included a series of in-licensings and acquisitions of drugs for orphan and niche conditions, as well as the organic development of a pan-European and Middle Eastern launch and commercialization organization with over 100 employees, supported by the corporate headquarters in Stockholm.