As part of the transaction, CFR, a publicly traded (CFR) leading Latin American pharmaceutical company with operations in Latin America and other emerging markets, acquired a 50.79% shareholding in Uman.
The funds will allow the company to increase substantially the number of specialized oncology products to be developed and manufactured in Candiac, Canada, for commercialization worldwide.
Uman Pharma develops and manufactures cytotoxic and high potent sterile injectable and solid dosage products for the oncology market. Its portfolio of products includes proprietary and generic formulations. Commenting on the investment, Sylvain Duvernay, the company’s CEO, said: “By combining our expertise with CFR’s sales and marketing team, Uman has increased its potential to serve the regulated markets for valuable medications”.