Hunt Val­ley’s Phar­ma­ceu­tics In­ter­na­tional raises $93M

Baltimore Sun - - NATION & WORLD - By Sarah Gantz sarah.gantz@balt­sun.com twit­ter.com/sarah­gantz

Phar­ma­ceu­tics In­ter­na­tional Inc., a Hunt Val­ley drug developer and manufacturer, has raised $93 mil­lion in eq­uity and re­fi­nanced debt.

New York-based Signet Health­care Part­ners was the lead in­vestor, along with Athyrium Cap­i­tal Man­age­ment, Hil­dred Cap­i­tal Part­ners and Phar­ma­science Inc.

Phar­ma­ceu­tics In­ter­na­tional Inc., or Pii, will use the money to ad­vance its drug-for­mu­la­tion ca­pa­bil­i­ties and up­grade com­mer­cial man­u­fac­tur­ing op­er­a­tions. The com­pany will also use the new fund­ing to de­velop its pipe­line of generic drugs.

Pii does con­tract de­vel­op­ment and man­u­fac­tur­ing for global phar­ma­ceu­ti­cal firms. The com­pany spe­cial­izes in drug dosage de­vel­op­ment, in­clud­ing fine-tun­ing a med­i­ca­tion’s for­mula and de­ter­min­ing what form — cap­sule, tablet, cream or aerosol, to name a few op­tions — it should take.

The com­pany also helps clients meet good-man­u­fac­tur­ing reg­u­la­tions en­forced by the Food and Drug Ad­min­is­tra­tion and re­quired for new drug ap­proval.

Michael Bogda, a veteran phar­ma­ceu­ti­cal ex­ec­u­tive who most re­cently worked as pres­i­dent of Lan­nett Co. Inc., has been named pres­i­dent and chief op­er­at­ing of­fi­cer.

In ad­di­tion to its Hunt Val­ley head­quar­ters, Pii has man­u­fac­tur­ing fa­cil­i­ties in the United King­dom. The com­pany was founded in 1994 and has 500 em­ploy­ees, ac­cord­ing to its web­site.

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