Provepharm Life Solutions, a Marseille, France-based independent pharmaceutical and life sciences group which revitalizes known molecules, received a €42.5M ($47.6M) syndicated loan.
Backers included Société Générale, BNP Paribas, Banque Populaire Méditerranée and Crédit Agricole Alpes Provence.
This financing will allow the company to accelerate its development through acquisitions.
Created in 1998 and led by Michel Féraud, CEO, Provepharm provides pharmaceutical-grade methylene blue in 25 countries around the world. The company’s strategy consists of developing its range of products, applying its expertise for the revitalization of other molecules and strengthening its international business.
The group ended 2018 with record results and the integration of a product portfolio resulting from its first company acquisition, completed in October 2018.
Over the next few months, the company plans to strengthen its position as an international and independent pharmaceutical laboratory with particular focus on the development of its US subsidiary.