CNX Therapeutics Secures Debt Facility to Fuel Acquisition Drive
London, November 24th 2023 – CNX Therapeutics Limited (“CNX Therapeutics”), a speciality pharmaceutical company with a focus on improving access to essential medicines, has secured its first debt facility from Credit funds managed by Ares Management (“Ares”), a global alternative investment manager.
This significant financial arrangement provides liquidity to accelerate CNX Therapeutics’ growth strategy across Europe. The funds will be deployed to enable further strategic partnerships and transactions across the pharmaceutical sector to support medicine product development, commercialisation, and distribution for neurological, psychiatric, and hospital emergencies.
CNX Therapeutics has built out its product portfolio and scaled its European platform since its creation in 2021, and under its ownership by private equity firm, Inflexion. Following two acquisitions this year, the business has a strong pipeline of further deals as it strengthens its partnerships in Central Nervous System (CNS) and niche hospital products. The capital from Ares will be used to build on this momentum, while strengthening the company’s financial position.
Olga Lund, CFO at CNX Therapeutics, comments: “As we embark on the next phase of our growth journey, securing this substantial debt facility is a testament to CNX Therapeutics’ sector resilience and potential. We are focused on improving the lives of patients and this strategic move not only fortifies our financial position, but also provides us with the firepower to form more partnerships with pharmaceutical industry players across Europe. We are grateful for the support from Ares, and this financing will empower us to enhance our operations and explore untapped products and markets. Together, we’re demonstrating our commitment to improving patients’ lives and staying at the forefront of the industry.”
Richard Oliver, a Partner at Ares Management, added: “We recognise the importance of CNX Therapeutics’ portfolio and products in driving better access to speciality medicines, and we’re pleased to be providing flexible capital to help the company accelerate its long-term objectives. We look forward to supporting the growth of CNX Therapeutics and to contributing to the company’s ongoing and potential positive impact for patients and care providers in the speciality pharmaceuticals market.”
CNX Therapeutics was advised on this transaction by Deloitte Debt Advisory, Trowers & Hamlins, BDO, Travers and PharmaCloud.
Contact: [email protected]
Notes to Editors
About CNX Therapeutics
CNX Therapeutics is a speciality pharmaceutical company committed to improving the lives of patients by providing access to essential medicines. They commercialise and distribute a portfolio of pharmaceuticals for neurological, psychiatric and hospital emergencies in 40 countries worldwide, both directly and through strategic partnerships. CNX Therapeutics’ vision is to become a recognised partner of choice through their commercial excellence, patient focus and presence across Europe. They aim to have a pioneering and industry-leading approach to their Environment, Social and Governance (ESG) goals, which forms a key element of the organisation’s mission and objectives.
About Ares Management
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2023, Ares Management Corporation’s global platform had approximately $395 billion of assets under management with approximately 2,800 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
