Cyclopharma, based in Clermont-Ferrand (France), specializes in radiopharmaceuticals for diagnostic imaging procedures in oncology, cardiology and neurology.
The company anticipates revenues of EUR25 million and holds a leading market share in France. It operates seven production and R&D sites in France with more than 110 employees.
Cyclopharma was acquired by Olivier and the Denos Group in 2013. Other significant shareholders include BPI France, Sofimac and Crédit Agricole.
Cyclopharma is purchased by Curium, which was formed through the merger of IBA Molecular and Mallinckrodt’s nuclear imaging activities and is backed by the UK mid-market private equity firm, CapVest.
Bryan, Garnier & Co acted as Sole Financial Advisor to Cyclopharma and its shareholders on the transaction.
Bryan, Garnier & Co successfully optimized the terms of the transaction for the sellers to meet their value expectations and requirements for the sale.
As part of the transaction, R&D and international activities of Cyclopharma are carved-out and retained by the Denos Group which will become the foundation of a new innovative tracer company.
The acquisition of Cyclopharma will double the size of Curium’s operations in France and create the largest radiopharmaceutical network in this market.
This transaction is the 5th healthcare deal closed in 2018 and confirms the strong momentum in our European Healthcare practice – including: Medartis IPO on the SIX Swiss Exchange CHF 143 million.
Since its creation in 2000, Cyclopharma has developed molecular imaging solutions to allow the observation of cell function in vivo as part of the targeted treatment of cancer, in order to improve individualized treatment plans for patients in terms of diagnostics, monitoring and therapeutic effectiveness, whilst also reducing costs. With more than 110 employees and revenue of EUR23 million, Cyclopharma invests more than 10% of revenue in research into novel molecular imaging tracers. Since 2015 it has built on dense and balanced geographical coverage to drive international growth, with the aim of becoming a major European force in personalized medicine.
About Curium Pharma
Curium is a world-class nuclear medicine solutions provider with more than a century of industry experience. Formed by the union of IBA Molecular and Mallinckrodt Nuclear Medicine LLC, Curium is the largest vertically integrated radiopharmaceutical product manufacturer in the industry. With more than 50 manufacturing facilities across Europe and the United States, Curium supports over 14 million patients around the world with SPECT, PET, and therapeutic radiopharmaceuticals to provide potentially life-saving diagnostic solutions. Curium’s products are currently commercialized in more than 60 countries across the globe.
About Bryan, Garnier & Co
Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media & Telecoms, Healthcare, Smart Industries & Energy, Consumer, Brands & Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.
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