NVM leads a £3.2 million investment in Ridge Pharma .
10 September 2018
NVM Private Equity (NVM) has invested £2.75 million of growth capital (with the balance of the £3.2m funding round provided by existing investors and private individuals) into Reading-based pharmaceutical company Ridge Pharma Limited (“Ridge”). Ridge is an emerging UK pharmaceutical business set to commercialise their first product in late 2018, with further launches thereafter. Ridge was founded on the belief that consistently offering medicines with distinct benefits and clear value is at the heart of a rewarding and sustainable business.
Founded in 2017 by Chief Executive Officer, Brendon McDonagh, and Harry Stratford, Ridge Pharma is focused on the in-licensing and marketing of prescription medicines. Brendon has over 20 years of commercial experience in the pharmaceutical industry, beginning his career at ProStrakan and most recently as Country Manager for Consilient Health, leading the success of their UK branded business. Brendon is passionate about challenging established prescription markets for the benefit of the NHS and patients.
Harry Stratford OBE is the Non-Executive Chairman of Ridge Pharma. He brings a wealth of experience from over 40 years in the pharmaceutical industry, notably as founder and CEO of Shire Pharmaceuticals Plc, and as founder, CEO and Executive Chairman of ProStrakan, subsequently acquired by Kyowa Hakko Kirin in 2011. He now holds a number of non-executive board positions, and is currently Non-Executive Chairman of Amryt Pharma.
Founder and CEO of the company, Brendan McDonagh, said:“We are delighted to have NVM Private Equity as our partner in building a leading UK pharmaceutical company. From the outset they have shared and supported our ambition to build a sustainable business, with strong ethical principles, that delivers exceptional value to all our stakeholders, from patients to our employees.”
Aaron Lawson-Clark, Investment Associate of NVM Private Equity said: “NVM is delighted to be backing Brendon and Harry in the development of a new competitive force in UK pharmaceuticals. We are backing a team with considerable experience and an excellent track record. Ridge have some exciting and disruptive plans and NVM looks forward to supporting the team as they drive towards developing a leading, ethical pharmaceutical business.”
NOTES TO EDITORS
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 firstname.lastname@example.org
- Aaron Lawson-Clark (NVM: Investment Associate)– 0191 244 6013 email@example.com
- Brendan McDonagh (Ridge: CEO) – firstname.lastname@example.org
Download photos of: Ridge – www.nvm.co.uk/PRphotos
NVM was provided with:
- Legal advice by Muckle LLP (Matthew Walsh)
Matthew Walsh, Associate at Muckle LLP, said: “Aaron and NVM have demonstrated great belief in Harry and Brendon’s vision with this successful investment and, under their expert leadership, the future looks incredibly bright for this exciting business.”
- Financial due diligence by Dow Schofield Watts (Jeff Gardner)
- Commercial due diligence by Candesic (Dr Joe Taylor)
- Management due diligence by Confidas People (Bruce Douglas)
- VCT compliance by Philip Hare & Associates
Ridge Pharma was provided with:
- Legal advice by Gowling – Ian Piggin (Partner) and Roisin Bergin (Associate)
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing more than £400 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £12 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk