Stratford’s Kelso Pharma swoops on Glasgow firm
A new speciality pharmaceuticals business headed by a Borders-based veteran of the sector has teamed up with private equity firm Apposite Capital to make its first acquisition.
Former ProStrakan and Kyowa Kirin chief executive Dr Tom Stratford is behind Kelso Pharma which is purchasing Glasgow-based Stirling Anglian Pharmaceuticals.
Stirling Anglian’s brand portfolio includes three medicines that are already in the UK healthcare market and the acquisition will be the first in a plan to expand across Europe.
Kelso Pharma is backed by Apposite Capital, the private equity firm that invests in high potential commercial stage healthcare companies across Europe, with 12 healthcare businesses in its investment portfolio.
Dr Stratford said: “Our aim is to enhance value for the healthcare system by providing branded medicines that improve the lives of patients in a cost-effective and ethical way.
“Stirling Anglian’s business is a perfect fit with that vision and with Apposite Capital’s financial support it provides us with a UK platform from which to grow, not just in the UK but elsewhere, as we build a pan-European specialty pharma business.
“Stirling Anglian’s product portfolio matches Kelso Pharma’s planned focus on innovative, branded and cost-effective medicines that provide proven benefit to patients while being affordable to the healthcare system.
“We already have a new product launch planned for Q1 2022.”
Dr Stratford was CEO of Kyowa Kirin International, the European and US business arm of Kyowa Kirin, which purchased Scottish Borders based ProStrakan Group in 2011. He is joined in this new venture by former KKI CFO, Allan Watson, and former KKI General Counsel, Andrew McLean.
Apposite managing partner, Sam Gray, said: “Given its growth profile, the acquisition of Stirling Anglian represents an attractive first entry point into the UK market and we share the ambition of the team to create a significant pan-European business with a focus on innovative affordable medicines.”