According to bank provided information, Zanzibar Pharma Limited is a newly incorporated buy and build platform for the acquisition of pan-African biopharmaceutical businesses as well as a manufacturing and innovation center of excellence in India. It is designed to compete in large, fast growing and differentiated therapeutic areas through innovation and cost leadership. FMO is planning to co-invest in this platform alongside ADP III, a private equity fund advised by Development Partners International (DPI). ADP III is a pan-African focused private equity fund, in which FMO invested in 2020.
The platform has received an initial $250 million in capital from its founding investors, ADP III, CDC Group, and the European Bank for Reconstruction and Development, that have been used to fund the acquisition and combination of Adwia Pharmaceuticals, an Egyptian generic drugs manufacturer, and Celon Laboratories Pvt, an Indian oncology and critical care specialist. The platform will leverage its manufacturing and R&D center of excellence in India to strengthen its local manufacturing operations in Africa, while capturing synergies from centralized supply chain management and business development. The newly created platform will improve the delivery of essential and affordable specialty generic pharmaceuticals across the African continent. This will be supported by up to an additional $500 million fund raise, in which FMO targets to participate, to fund a strong pipeline of acquisitions, assist in new drug development, and establishment of new distribution channels.
*Contact information not provided at the time of disclosure*
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