The company, which has also acquired the assets of Healix’s 503B compounding pharmacy services unit, will use the funds to support the creation and to expand its current operations and open additional locations.
The amount of the transactions were not disclosed.
Led by Stuart Hinchen, co-founder and Chief Executive Officer, and Peter Jenkins, co-founder and Chief Development Officer, QuVa Pharma provides a national platform for sterile compounding pharmacy services.
The acquired manufacturing facility, located in Sugar Land, Texas, and registered with the U.S. Food and Drug Administration (FDA) as an Outsourcing Facility under Section 503B of the Federal Food, Drug, and Cosmetic Act, provides compounded sterile preparations to hospitals across the country.
The company expects to retain all current employees and to grow the capacity and staff of the facility over time.