KKR and Flerie Form Specialized Pharma Services Platform Frontier Biosolutions and Invest in Coriolis Pharma

Rhea-AI Summary

KKR and Flerie form Frontier Biosolutions to invest in specialized pharmaceutical services for advanced therapeutics. Coriolis Pharma receives investment to expand its services in the cell and gene therapy segment.

Positive

• KKR and Flerie have formed a new global pharma services platform called Frontier Biosolutions.
• Frontier will invest in companies focused on specialized pharmaceutical services for advanced therapeutics.
• Coriolis Pharma, a global leader in formulation research and development, receives investment from Frontier.
• Coriolis Pharma will expand its services in the fast-growing cell and gene therapy segment.

Negative

• None.

• KKR and Flerie to support organic and inorganic growth to extend Coriolis’ leadership position in formulation development and analytical services for innovative high-value biologics and cell and gene therapy products
• Experienced team of biopharma services veterans led by Thomas Eldered of Flerie Invest AB (“Flerie”) to provide strategic advice and operational support to Frontier’s portfolio companies, including Coriolis

MUNICH--(BUSINESS WIRE)-- KKR, a leading global investment firm, today announced, in partnership with Flerie, the formation of a new global pharma services platform, Frontier Biosolutions (“Frontier”), which will invest in a portfolio of companies focused on specialized pharmaceutical services to advanced therapeutics customers. Frontier will invest in differentiated scientific capabilities and proprietary technology platforms that address critical bottlenecks in the development and manufacturing of advanced therapeutics.

Industry veteran and co-investor Thomas Eldered will serve as Frontier’s Executive Chairman, bringing more than 34 years of senior management expertise to the management board and drawing on his experience as Co-founder of Recipharm and as a life sciences investor at Flerie. He will be joined by Mark Quick, formerly Head of M&A at Recipharm now Partner at Flerie, Stephan Kutzer, formerly CEO at Alcami and Divisional CEO and COO at Lonza Pharma and Biotech, Danielle Young, formerly Head of Commercial Strategy at Alcami, and Phil Vanek, currently CTO at Gamma Biosciences.

As the platform’s foundational investment, funds managed by KKR and Flerie, through Frontier, have invested in Munich-based Coriolis Pharma, a global leader in formulation research and development, analytical services and non-GMP manufacturing of innovative high-value biologics and cell and gene therapy products. With its scientific expertise, Coriolis enables its clients to create high quality drug products with global commercial potential from early development to product commercialization. KKR’s investment will enable Coriolis' continued expansion, especially into the fast-growing cell and gene therapy segment and will expand its range of services offered to customers globally.

“We are thrilled to partner with Flerie and Thomas Eldered, the experienced Board of Directors, and the team at Coriolis Pharma at a time of growing demand for specialized services to support the development of advanced therapeutics,” said Kugan Sathiyanandarajah, Managing Director and Head of KKR’s Health Care Strategic Growth business in Europe. “This platform and the investment in Coriolis Pharma are another example of our Health Care Strategic Growth platform strategy to partner with proven operators in an area we have been following for some time.”

“We are very excited to launch Frontier Biosolutions as a global platform that we believe will enable its future portfolio companies to understand and address the evolving needs in drug development,” said Thomas Eldered. “Coriolis Pharma has an industry-leading track record as a global provider of mission-critical, highly specialized formulation development services and a reputation for scientific leadership and complex problem solving. I look forward to working with the outstanding management team at Coriolis as they pursue their ambitious growth plans.”

Michael Wiggenhorn, Co-Founder of Coriolis, commented: “This investment presents a pivotal growth opportunity for Coriolis to realize our strategy and vision. The ability to leverage Frontier’s collective skills and expertise will be invaluable as we revolutionize the development process of biopharmaceutical drugs. Together with a strong suite of industry advisors and KKR's global network and market knowledge, we will be able to position Coriolis for the future and move one step closer to our goal of making future therapies available to humankind efficiently and on time.”

KKR is investing in Coriolis Pharma through its KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $19 billion in the sector since 2004.

The investment in Coriolis Pharma underscores KKR's strong presence in the German-speaking DACH region, where KKR has invested more than €15 billion of long-term equity capital in over 30 companies since 1999. Currently, approximately 40 of KKR's global portfolio companies operate in the DACH region.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Flerie

Flerie is an active long-term global biotech and pharma investor based in Stockholm and London managing a portfolio of 30 companies in Europe, Israel and the US. Flerie’s evergreen investment strategy, operational expertise and network enables pioneering technologies in the drug development and services space to advance on their path to treating patients and commercialization. Flerie was founded in 2011 by Thomas Eldered, who also co-founded and built Recipharm to be one of the world’s top five pharmaceutical contract manufacturers. For more information, please visit www.flerie.com.

About Coriolis Pharma

Coriolis Pharma is a globally operating contract research and development organization (CRDO) and one of the world leaders in formulation research and development of (bio)pharmaceutical drugs, including cell and gene therapy products and vaccines. It is the vision of Coriolis to revolutionize the development process of biopharmaceutical drugs by integrating innovative digital formulation approaches from drug development to commercial products. With its interdisciplinary team of highly skilled scientists and an expert scientific advisory board, Coriolis provides cutting-edge services and tailor-made solutions for its clients. Coriolis was founded in 2008 and currently employs more than 200 employees from over 36 nations around the world. For more information visit www.coriolis-pharma.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231015393742/en/

KKR media contact

Thea Bichmann

Mobile: +49 (0) 172 13 99 761

Email: kkr_germany@fgsglobal.com

Fabian Prietzel

Mobile: +49 (0) 171 86 01 411

Email: kkr_germany@fgsglobal.com

Coriolis media contact

Bettina von Klitzing-Stückle

Mobile: +49 (0) 151 52 61 38 97

Email: bettina.klitzing@coriolis-pharma.com

Source: KKR

FAQ

What is Frontier Biosolutions?

Frontier Biosolutions is a new global pharma services platform formed by KKR and Flerie.

What is Coriolis Pharma?

Coriolis Pharma is a global leader in formulation research and development.

What services does Coriolis Pharma provide?

Coriolis Pharma provides formulation research and development, analytical services, and non-GMP manufacturing of innovative high-value biologics and cell and gene therapy products.

What is the investment from KKR and Flerie for?

The investment from KKR and Flerie will enable Coriolis Pharma to expand its services in the cell and gene therapy segment.

What is KKR's track record in the health care sector?

KKR has invested approximately $19 billion in the health care sector since 2004.

What is KKR's presence in the German-speaking DACH region?

KKR has invested more than €15 billion in over 30 companies in the German-speaking DACH region since 1999.