France: Juvisé Pharmaceuticals secures €550m refinancing from Hayfin Capital Management

Juvisé Pharmaceuticals, a family-owned specialty pharmaceutical company based in France, has secured €550 million (approximately US$655 million) in refinancing. The deal, completed with Hayfin Capital Management, includes €400 million to cover existing debt and a new €150 million capital expenditure line specifically for potential future mergers and acquisitions.

Strengthening Financial Position for Growth

According to Frédéric Mascha, founder and CEO of Juvisé Pharmaceuticals, this refinancing is “a key milestone” for the company. He stated it will strengthen their financial position and enable continued growth, with a focus on acquiring and commercializing new essential medicines for patients.

Did You Know? Juvisé Pharmaceuticals was founded in 2008 by Frédéric Mascha.

Strategic Acquisitions and Expansion

This financial maneuver follows a 2024 capital reopening where BPI France and Pemberton became shareholders after Juvisé acquired the rights to Ponvory from Johnson & Johnson. The refinancing extends Juvisé’s financial flexibility and provides resources for future growth, including potential mergers and acquisitions.

Howard Rowe, portfolio manager and co-head of Healthcare Investing at Hayfin, expressed confidence in Juvisé’s operational discipline and track record of successfully integrating and scaling essential medicines. He believes the refinancing will provide a solid foundation for the company’s growth strategy.

A History of Growth Through Acquisition

Since its founding, Juvisé has focused on acquiring and developing “princeps drugs” – often referring to first-in-class medications – across a range of therapeutic areas including neuropsychiatry, cardiology, oncology, gastroenterology, and neurology. The company aims to become a leading European commercial partner for research-focused and major pharmaceutical companies globally.

Expert Insight: This refinancing demonstrates a clear commitment to expansion through acquisition, a strategy that allows Juvisé to rapidly diversify its portfolio and access new markets without the lengthy and costly process of internal drug development.

Legal counsel for Hayfin was provided by White & Case, while Juvisé received counsel from Latham & Watkins, with Lazard serving as a special advisor. In 2022, Juvisé completed a separate €400 million refinancing following the acquisition of the worldwide rights to Pylera from AbbVie, financed through Société Générale.

Frequently Asked Questions

What is the total value of the refinancing deal?

The refinancing deal is valued at €550 million (approximately US$655 million).

What will the new €150 million be used for?

The €150 million capital expenditure line is dedicated to future mergers and acquisitions.

Who advised Juvisé Pharmaceuticals on this transaction?

Latham & Watkins provided legal counsel to Juvisé Pharmaceuticals, with Lazard acting as a special advisor.

How might this financial restructuring impact the availability of essential medicines for patients in the future?