Healthcare investor looks to cash in on pharma outsourcing trend with €1bn-plus sale
A biotechnology company that has helped discover novel antibody treatments for drugmakers including Johnson & Johnson has been put up for sale for more than €1bn, as its private equity owners look to cash in on a wave of outsourcing in the sector.
London-based healthcare investor GHO Capital has this year hired advisers from JPMorgan to oversee a sales process for FairJourney Biologics, a contract research organisation that works on behalf of pharma groups to identify novel antibody candidates, according to people familiar with the matter.
FairJourney, whose labs are based in the Portuguese city of Porto and the English city of Cambridge, has contributed to the research behind 14 antibody treatments currently being studied in clinical trials to treat diseases such as cancer and autoimmune diseases.