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Provepharm Life Solutions announces that ArchiMed and Téthys Invest have joined the company’s shareholder base as minority investors.
Both are renowned investors with strong expertise in the healthcare sector. Beyond financial considerations, it was the specific support for the company’s long-term growth project and the entrepreneurial track record of its founders that drove the decision process.
Following the successful commercialisation of its methylene blue product Proveblue® / Provayblue™, in particular in the United States, Provepharm Life Solutions plans to pursue its growth through reinforcement of its know-how across all functional areas as well as through acceleration of new product development.
“Asking ArchiMed and Téthys Invest to join us is an ambitious choice. We wish to move forward with partners who are engaged, support our vision and reinforce our development strategy,” said Michel Feraud, CEO of Provepharm Life Solutions. “Based on common values, this collaboration adds to the coherence of our business project. It is in Provepharm’s DNA to promote excellence and the quality of relationships with all stakeholders: employees, shareholders, clients, distributors, suppliers, physicians and patients. I also wish to thank our historical financial partners who are exiting the company at this stage and who have accompanied us with success through the years.”
Denis Ribon, chairman of ArchiMed, explained the firm’s decision to partner with Provepharm Life Solutions: “The development of Provepharm Life Solutions so far has demonstrated the quality of its leadership, its workforce, its strategy and its products. We are proud to be able to participate in the next phases of the company’s development, with sustained focus on internationalisation, innovation and operational excellence, all areas where ArchiMed is experienced in adding value.”
Alexandre Benais, CEO of Téthys Invest, said: “We are delighted to support Provepharm with the implementation of its ambitious strategy. After the success of its methylene blue product, we hope that a long-term shareholder base will allow Provepharm to pursue its growth, in particular through the development of new products.”
About ArchiMed
ArchiMed was created in 2014 by the healthcare team leaders at 3i, establishing the first independent investment firm focused exclusively on the healthcare sector. ArchiMed manages $500M (€409M), partly already invested in companies across Europe (Germany, France, Italy, the Netherlands, Switzerland, the United Kingdom) operating in selected segments of the healthcare sector (biopharma, medtech and care services). Over the past twenty years, the ArchiMed team has managed directly over $5bn (€4bn) of investments in the healthcare sector worldwide. www.archimed-group.eu
About Téthys Invest
Françoise Bettencourt Meyers and Jean-Pierre Meyers created Téthys Invest, a subsidiary of Téthys, in March of 2016, in order to make direct diversification investments in various economic sectors.
About Provepharm Life Solutions
Provepharm Life Solutions is an independent French pharmaceutical group. Since its creation in 1998, the group has been leveraging its expertise in fine chemistry for the revitalization of known molecules. The group has developed a methylene blue product, which complies with the European and US pharmacopoeia and is marketed as Proveblue® / Provayblue™. It is the only injectable methylene blue product approved by the US Food & Drug Administration (FDA), which also granted orphan drug designation for the treatment of methemoglobinemia. Provepharm Life Solutions’ strategy consists of developing Proveblue® / Provayblue™ for new indications, applying its expertise for the revitalisation of other molecules and strengthening its international business. www.provepharm.com
