Tergus has also partnered with Great Point Partners (GPP), a Greenwich, CT based health care investment firm. GPP has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies.
Tergus provides topical formulation development, in vitro permeating testing (IVPT), in vitro release testing (IVRT), skin biology, analytical services, and clinical trial materials (CTM) manufacturing services for branded and generic dermatology products. Great Point’s investment will allow Tergus to build a state-of-the-art commercial manufacturing facility in the Raleigh-Durham, NC area and will begin construction in July 2019. The new 100,000 square foot facility will have clinical trial material (Phases I thru III) supplies and commercial manufacturing capabilities and expand current capacity by over 400%. Tergus plans to open the new facility in early 2020.
“Great Point’s expertise and successful track record growing pharmaceutical services companies was evident when they proactively approached us about a partnership,” said Vijendra Nalamothu, chief executive officer, Tergus. “For years we have discussed building a commercial facility. The equity capital from GPP will enable us to do this and we will be able to better serve our customers by offering end-to-end services including commercial manufacturing. Great Point’s experience, network, and success in current and previous outsourced pharmaceutical services investments was a true differentiator.”
Rohan Saikia, managing director, Great Point Partners, said, “Tergus has differentiated itself as a leader in the complex topical dermatology development space that has been growing at approximately 15% per year. Tergus’ reputation within topical dermatology is unparalleled and we are thrilled that Tergus will now be a ‘one-stop-shop’ from clinical development to commercial manufacturing for all of their clients.”