Tuesday, July 16, 2024
HomeEconomyJPMorgan sells Portuguese biotech for billions of dollars

JPMorgan sells Portuguese biotech for billions of dollars

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The biotech company, headquartered in Porto, was founded in 2012 and its CEO and co-founder is Antonio Parada. Now, he is preparing to sell for $1 billion, with financial advice from JP Morgan.

JPMorgan has been hired to advance the sale of FairJourney Biologics, a Portuguese biotech company, which is expected to raise a valuation of $1 billion (926 million euros), according to a headline in JE Advisory, the second issue of which is available. Friday with the print edition of JE and on digital platforms.

Remember, this JE notebook aims to deepen coverage of business law, consulting, auditing and investment banking in Portugal.

Thus, the British private equity fund specializing in the health sector, GHO Capital, has appointed advisors for the sale of the Portuguese biotechnology company, with JP Morgan chosen as the financial advisor for the sale of the national company operating in the health sector. .

The value that the British Fund seeks to achieve in the ongoing competitive process amounts to one billion dollars (926 million euros). The news was reported by the Spanish newspaper “Expansión” and confirmed by the “Jornal Económico” magazine.

This is another million dollar biotech business in Portugal. After the Portuguese biotech company CellmAbs sold to the German company BioNTech, listed on the Nasdaq stock exchange, a line of innovative therapies for the treatment of cancer, which could allow the development of a new drug against the disease, FairJourney Biologics is up for sale.

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