Global private equity investor Advent on Monday announced that it has signed a definitive agreement to invest $175 million for a significant minority stake in Felix Pharmaceuticals Pvt Ltd, a Dublin-headquartered player in the generic animal health pharma space.
The investment will consist of both primary and secondary components, Advent said in a statement.
Felix Pharma is recognised as one of the fastest-growing developers and manufacturer of off-patent medicines for companion animals. The company develops, manufactures, and supplies to distributors and other branded generic companies for private labelling, particularly in the US.
“Healthcare has been a long-standing focus for us, and strong parallels we see between success in human Gx globally and emerging opportunity in animal health Gx. Felix is well positioned to lead this space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities. Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise,” said Shweta Jalan, Managing Partner at Advent.
Founded in 2015 by Neeraj Agrawal, a McKinsey alum; Sir Jonathan Symonds, chair of GSK; and Dr Shumeet Banerji, Felix has scaled to a 14 commercialised product portfolio and has several others in advanced stages of pipeline. It has a USFDA approved oral solid facility dedicated for animal health products and an injectable facility that is expected to be ready by Q3 2025.
“As we scale in a fast-evolving market, we were looking for a partner who brings not just capital but also deep operating expertise and the right mindset and networks to help us grow faster and stronger. Advent’s strong track record in healthcare and pharma, and their close involvement in building strong businesses, gives us great confidence,” said Neeraj Agrawal, co-founder of Felix Pharma.
Guggenheim Securities acted as the financial advisors for Advent and Lincoln International were the financial advisors for Felix. JSA, Aurthur Cox and A&L Goodbody were the legal advisors on the transaction.
