CNX Therapeutics embarks on its buy-and-build strategy with first acquisition

London, July 29, 2022 - CNX Therapeutics Limited ("CNX Therapeutics"), a specialty pharmaceutical company with a focus on improving access to medicines that are critical to the well-being of patients, is pleased to announce that it has successfully completed the acquisition of Synchrony Pharma Limited ("Synchrony") and its existing portfolio of commercialised products. Synchrony is a UK-based pharmaceutical company specialising in the development and commercialisation of niche injectable pharmaceuticals.

Founded in 2008, Synchrony focuses on the development and supply of niche injectable products, to ensure continuity of supply to customers and patients of essential medicines. The current Synchrony portfolio consists of high-quality hospital injectable products, that are used in the emergency room and to treat life-threatening conditions. Synchrony benefits from several strategic partnerships with leading manufacturers of injectable medicines in Europe and across the world. A number of Synchrony's pipeline products in development are excluded from the transaction scope.

CNX Therapeutics' CEO, Guy Clark commented, "The addition of the Synchrony products will strengthen CNX Therapeutics' position as an important provider of niche specialty medicines in the UK and across Europe, with the additional opportunity to expand the combined portfolio to new markets through our shared network. This acquisition is the first of many that will see CNX Therapeutics' fulfil its ambition to grow quickly through acquisitions and achieve its goal to become a leading provider of niche and critical medicines across Europe, and also beyond."

Cameron Mitchell, CEO at Synchrony, further states "We are delighted to be joining the CNX Therapeutics family and believe that the combined strength and skill sets of the two businesses will create a fantastic organisation which continues to develop and provide vitally important medicines for its customers and patients."

Inflexion Private Equity, a leading mid-market private equity firm, invested in CNX Therapeutics in 2021 and is supporting the growth of the company both organically and through acquisition. The company has a war chest of up to £200m to support further deals.

CNX was advised on this transaction by Trowers & Hamlins, EOS Deal Advisory, Grant Thornton, PharmaCloud and JensonR+ Limited.

The shareholders of Synchrony were advised on this transaction by Stevens & Bolton LLP and Haines Watts.

Contact: communications@cnx-therapeutics.com