Ascendia Pharmaceuticals Secures Growth Equity Investment from Signet Healthcare Partners
Apr 08, 2021
NORTH BRUNSWICK, N.J., April 8, 2021 /PRNewswire/ -- Based in North Brunswick, NJ, Ascendia Pharmaceuticals, Inc. ("Ascendia") is a specialty contract development and manufacturing organization (CDMO) dedicated to developing and manufacturing enhanced formulations for pre-clinical, clinical stage drug candidates, and marketed drug products. The investment was made by Signet Healthcare Partners ("Signet"), a New York-based growth equity firm specializing in healthcare investments. The proceeds will be used to fund Ascendia's facility expansion to support the growing demand in the sector.
Founded in 2012, Ascendia offers a comprehensive suite of pre-formulation, formulation development, manufacturing, and stability services for parental, oral, and topical dosage forms. The Company also provides analytical method development and validation services for those dosage forms. The Company's extensive formulation development expertise is supported by its technology platforms in nanoparticle, amorphous solid dispersion, and nano-emulsions. This enables them to solve complex solubility and bioavailability challenges for a wide variety of molecules with difficult properties. Coupled with a customer-centric culture that exudes the BEST consisting of Brilliant technology, Excellent service, Superior quality, and Trust, Ascendia's team of colleagues and unique capabilities allow it to be nimble and collaborative; often earning them the coveted Partner of Choice status by its valued customers.
Ascendia's CEO Dr. Jim J. Huang, said, "We are very excited to receive this investment, which will allow us to accelerate the growth of our business to the next level. Signet Healthcare Partners is an ideal partner given its extensive experience and know-how in the pharmaceutical CDMO space. The expansion in the footprint and manufacturing capacity brought forth by this investment will enable us to continue to innovate and meet our growing production needs for early and late phases of product development."
James Gale, Managing Director at Signet Healthcare Partners, noted, "Ascendia has established capabilities in solving complex formulation problems and manufacturing pre-clinical and clinical trial materials for its clients. Signet looks forward to a close collaboration with Dr. Huang and the leadership team at Ascendia to support them in growing their business." Concurrent with the investment, Mr. Gale and Dr Theron Odlaug, an experienced pharmaceutical executive, will join the Ascendia board of directors with Dr. Huang and Mr. Robert Bloder.
Wombat Capital Markets, LLC served as an advisor to Ascendia. Sills Cummis & Gross P.C. acted as legal counsel for Ascendia and Sheppard, Mullin, Richter & Hampton LLP acted as legal counsel for Signet Healthcare Partners.
About Ascendia Pharmaceuticals, Inc.
Ascendia Pharmaceuticals, Inc. ("Ascendia") is a specialty CDMO dedicated to developing and manufacturing enhanced formulations for pre-clinical and clinical stage drug candidates and marketed drug products. Ascendia specializes in improving the solubility and bioavailability of poorly water-soluble drugs using its suite of nanotechnology platforms. Ascendia formulates products for injectable, oral, and topical routes of administration. The company has three technology platforms - EmulSol® for producing nano-emulsions, AmorSol® for creating amorphous solid dispersions, and NanoSol® for formulating nano-particles. For more information, please visit Ascendia's website at www.ascendiapharma.com.
About Signet Healthcare Partners
Signet Healthcare Partners ("Signet") is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm's focus has primarily been on the pharmaceutical sector and medical technology companies. Signet maintains a disciplined, yet flexible investment approach. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet's 23-year history, it has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over $400 million and has invested in more than 50 companies. For more information, visit www.signethealthcarepartners.com.