QuVa Pharma, Inc., a Sugar Land, TX-based a platform for sterile compounding pharmacy services, raised additional debt and equity funding of up to $40m.
The funding includes:
– $15m from Bain Capital Private Equity and other existing shareholders,
– $20m Term Loan from Silicon Valley Bank and a
– $5m lease facility from Farnam Street Financial.
The company, which has raised approx. $200m in total to date, intends to use the funds for strategic expansion of operations in Texas as well as accelerate the completion of the New Jersey facility. By the fourth quarter, QuVa expects to have 240,000 square feet of 503B registered manufacturing capacity as well as a workforce of approximately 500 employees.
Led by Stuart Hinchen, co-founder and Chief Executive Officer, QuVa Pharma offers a broad portfolio of products across Pain Management, Anti-infective, OR Syringes, Labor and Delivery therapeutic areas, amongst others, all of which are released only once sterility and potency testing is complete, and with validation supporting appropriate BUD.
The company has facilities in Sugar Land and Temple in Texas and in New Jersey.