Greenwich PE fund sells pharma service for $150M+
Private equity investor Great Point Partners is selling portfolio company Clinical Supplies Management, with the United Kingdom-based buyer Clinigen stating it is paying $150 million up front and as much as $90 million more if CSM hits financing milestones.
Greenwich-based Great Point acquired CSM less than two years ago, with the company providing drug packaging, labeling and distribution services to pharmaceutical companies in support of clinical trials. CSM lists its headquarters in Fargo, N.D., with its main plant in Malvern, Pa.
Clinigen provides a range of services supporting clinical trials, with its main U.S. office located in Yardley, Pa.
Alex.Soule@scni.com; 203-842-2545; @casoulman