HealthCare Royalty Announces Closing of Additional Debt Focused Fund, Team Expansion, and Promotions
STAMFORD, Conn.– HealthCare Royalty (“HCRx” or the “Company”), a leading middle market royalty acquisition firm that has invested $5+ billion in over 85 biopharmaceutical products since inception, today announced several important firm developments:
Closing of Additional Vehicle Focused on Debt Investments
HCRx closed a new vehicle that will focus primarily on providing debt solutions to emerging biopharmaceutical companies. Between this new fund and the firm’s inaugural debt-focused vehicle, closed in October, HCRx now has over $250 million available for debt transactions. HCRx believes emerging biopharmaceutical companies are increasingly interested in utilizing debt financing to help fund new product launches and product development. With two new vehicles and its permanent capital entity, HCRx looks forward to continuing its leadership in providing innovative capital to the biopharma industry in 2024.
Appointment of David Bryant as HCRx Adviser for the United Kingdom and European Union
HCRx is pleased to announce that David Bryant has agreed to become an adviser to the firm for the UK and Europe.
Mr. Bryant, who is based in the UK, will assist HCRx in identifying potential royalty acquisition and credit opportunities across the United Kingdom and European Union. David brings a wealth of pharmaceutical, transactional, and operational experience having served as the Chief Business Officer at Clinigen for over ten years through its acquisition by Triton Partners. Prior to Clinigen, David served for two decades in commercial roles at Pfizer and GlaxoSmithKline. “We are fortunate to have someone with David’s experience as a resource in the UK and Europe,” stated Clarke B. Futch, Founder, Chief Executive Officer and Chairman at HCRx; “We look forward to growing our presence in the European biopharma ecosystem.”
Internal Promotions and Formation of Management Committee
HCRx is pleased to announce the well-deserved promotions of the following individuals:
- Amy Zacharias to Senior Vice President – Finance;
- Michele Romaniello to Senior Vice President – Operations;
- Yichen Wang to Vice President – Research; and
- Evan Bograd to Senior Associate – Investments.
Furthermore, Dr. Warren Cooper, who currently serves as Chief Medical Officer, will take on an additional role as Chairman of HCRx’s Senior Advisor Board (“SAB”). HCRx’s SAB is comprised of eight world-renowned healthcare experts who play an integral part in the firm’s due diligence process.
The firm is also pleased to announce the formation of a Management Committee that will work with HCRx’s Executive Committee in guiding firm strategy and execution across all disciplines. The Management Committee is comprised of Carlos Almodóvar, Dr. Shin Kang, Tony Rapsomanikis and John Urquhart, all longstanding HCRx team members who have contributed meaningfully to the firm’s growth.
“The addition of the Management Committee strengthens HCRx’s foundation and allows us to accelerate our growth,” said Mr. Futch; “We are excited to work with the next generation of leaders as they help the firm expand and achieve our strategic objectives. It is an attractive time to be in the royalty acquisition and biopharmaceutical credit markets, and I am confident that our team, including the extremely talented members that are not mentioned in this announcement, is more than up to the task of capitalizing on what we believe is a compelling opportunity set.”
About HealthCare Royalty
HCRx is a leading royalty acquisition company focused on commercial or near-commercial stage biopharmaceutical products. HCRx has invested $5+ billion in over 85 biopharmaceutical products since inception with offices in Stamford (CT), San Francisco, Boston and London. For more information, visit https://www.hcrx.com/
HEALTHCARE ROYALTY® and HCRx® are registered trademarks of HealthCare Royalty Management, LLC.
Contacts
Media:
Carlos Almodóvar
(203) 487-8300
irinfo@hcrx.com
