NovaQuest Private Equity’s Acquisition Of CoreRx, Inc.


Sheppard Mullin advised CoreRx, Inc. on the deal.

NovaQuest Private Equity (“NovaQuest”) announced its acquisition of CoreRx, Inc. (“CoreRx” or the “Company”), a global contract development and manufacturing organization (“CDMO”).

Based in Clearwater, FL, CoreRx provides clinical and commercial CDMO services to a wide range of small to mid-sized pharmaceutical and biotech clients. Founded in 2006, the Company offers preformulation, formulation, analytical and stability, clinical manufacturing, commercial manufacturing, and packaging services. The Company’s deep development expertise allows it to solve complex formulation challenges. Its small-batch manufacturing capabilities, coupled with a responsive customer mindset, allow CoreRx to be a nimble, hands-on partner for its valued customersGoldman Sachs Specialty Lending Group provided debt financing for the transaction. William Blair & Company served as exclusive financial advisor to CoreRx.

Sheppard Mullin and Johnson Pope served as legal advisors to CoreRx, and Smith Anderson served as legal advisor to NovaQuest. Deal terms were not announced.

CoreRx is a CDMO with full-service capabilities to support clinical through commercial manufacturing, offering state of the art facilities to support your supply chain needs. Our integrated offerings provide comprehensive services for the development, manufacturing, and testing of solid, liquid, and semi-solid dosage forms.

NovaQuest Private Equity is a leading investor in technology and services companies in the life sciences and healthcare sectors. NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital and operational leverage in partnership with strong management teams. The investment team consists of highly seasoned operational and investment professionals with significant investment experience and deep life science and healthcare expertise.

The Sheppard Mullin deal team was led by partner Shon Glusky (Picture) and included special counsel Jeff Taylor and associate David Rostowsky. Invaluable assistance was provided by partner Evan Williams, Keith Gercken, Robert Guite, Olivier Theard, Allison Fulton, Kevin Ryan, Dmitriy Chelnitsky, Leo Caseria, and Jim Gatto, associates John Crisp and Ethan Aronson, and attorney Christina Nguyen.

Involved fees earner: Ethan Aronson – Sheppard Mullin; Leo Caseria – Sheppard Mullin; Dmitriy Chelnitsky – Sheppard Mullin; John Crisp – Sheppard Mullin; Allison Fulton – Sheppard Mullin; James Gatto – Sheppard Mullin; Keith Gercken – Sheppard Mullin; Shon Glusky – Sheppard Mullin; Robert Guite – Sheppard Mullin; Christina Nguyen – Sheppard Mullin; David Rostowsky – Sheppard Mullin; Kevin Ryan – Sheppard Mullin; Jeffrey Taylor – Sheppard Mullin; Olivier Theard – Sheppard Mullin; Evan Williams – Sheppard Mullin;

Law Firms: Sheppard Mullin;

Clients: CoreRx, Inc.;

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Author: Ambrogio Visconti