PCI Pharma Services, a Philadelphia-based biotherapy manufacturing company, announced Monday it had received a strategic investment co-led by Bain Capital and existing investors Kohlberg and Mubadala Investment Company.
Another investment group, Partners Group. will continue to support PCI Pharma with a minority investment, the company said. Financial terms of the transaction were not disclosed.
PCI provides its clients with integrated end-to-end drug development, manufacturing and packaging capabilities that increase a products’ speed to market, officials with the company said. PCI has successfully launched more than 450 products over the last five years, buoyed by its 50 years in the pharmaceutical services.
“PCI has embarked on a purposeful journey to transform itself into a global CDMO by executing its successful growth strategy, providing industry-leading customer experience, and offering innovative and integrated supply chain solutions,” said Chief Executive Officer Salim Haffar. “I am grateful for the ongoing support of our existing investors and enthusiastically welcome Bain Capital and their deep, global healthcare and life science capabilities and expertise. Together we will grow PCI’s commercial, clinical trial services, and development and manufacturing businesses to meet the future demands of our biopharmaceutical customers.”
Kohlberg and Mubadala originally invested in PCI in 2020, and Bain Capital will partner with the two companies and PCI’s management team to accelerate the company’s growth and build upon its existing strengths to help PCI’s customers bring biopharmaceutical therapies to market. PCI said it would continue to focus on organic and inorganic growth initiatives.
“PCI’s world-class management team, combined with the support of experienced industry investors, has proven to be a very successful formula,” Matt Jennings, chairman of PCI and an operating partner of Kohlberg, said. “We are delighted for Bain Capital to join PCI’s investor base, yielding an optimal combination aligned to support Salim and the management team to execute on their growth ambitions and value creation pathways.”