Global Finance

Global Capital Investors II, a fund advised by Global Finance, has led a €10m investment in Chemical & Biopharmaceutical Laboratories of Patras S.A. (CBL), a life sciences company specialized in the manufacturing of chemical compounds used in peptide/protein synthesis, acquiring a significant minority shareholding in the company. Out of the total €10m investment, €2m were syndicated to Partners in Life Sciences.

CBL was founded in 1990 by Dr. K. Barlos, a prominent scientist and the major shareholder in the company, to commercialize his scientific discoveries. The company has succeeded in establishing a strong niche position. Its client base ranges from the research community to pharmaceutical/biotech and cosmetics companies. The company has been a key supplier to Roche in the development and production of the HIV-drug Fuzeon; the largest peptide project yet undertaken. In recognition of its role in the Fuzeon project it was awarded by Roche the “Vendor of the Year” award in 2001 and 2002. The awards reflect CBL’s ability to meet a multinational’s demanding supply requirements and specifications while maintaining its cost competitiveness.

CBL has grown rapidly into a highly profitable business with EBITDA of € 3.6m on sales of €5.1m in 2005. The funds raised will fund the expansion of the company’s production capabilities to include active pharmaceutical ingredients, new product and business development, as well as the development of a sales and distribution platform in the key US market. The investment will uniquely place CBL to tap into the rapidly growing market for peptides/proteins and enhance its profitability.

Founded in 1991, Global Finance has established a preeminent position in Southeastern Europe raising more than €700m for investments focusing primarily in Greece, Romania and Bulgaria. In March this year, Global Finance had a first closing on its 8th fund in the region, the South-Eastern Europe Fund with commitments of €200m and targets to have a final closing at over €300m following which the total funds raised by Global Finance would get close to €1bn. The investment in CBL follows the successful divestment of Sicomed, the largest pharmaceutical industry in Romania, in 2005.

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