Sino Biopharmaceutical Limited will pay $110 million up front in addition to a share of profits for Belgian soft mist inhaler developer Softhale. According to New Rhein, the fund’s investments to acquire a 60% stake in Softhale were made in 2019 and 2020.
Softhale is led by Jan-Torsten Tews, who previously headed respiratory drug groups at Sandoz, Teva, and GSK. Tews, who joined Softhale as CEO in 2017, said, “New Rhein has played a fundamental role in transforming Softhale from its medical technology driven origins into a highly specialized developer of respiratory medicines and in accelerating the development of our pipeline with operational expertise, resources and a global network. At this crucial point of our development, Sino Biopharm is a great partner on our mission to further advance and broaden the development of our platform and to build and launch a new generation of highly effective inhalable medicines on a global scale.”
New Rhein Founder and Managing Partner Greg Parekh commented, “During the past two years, Softhale has made significant progress in developing its platform and achieved important regulatory milestones. The sale of Softhale represents another strong result for our investors and demonstrates New Rhein’s continued ability to choose the right opportunities and build value in the companies we back. We have been very deliberate in ensuring we find the right partner to continue the successful trajectory of Softhale, with the well-being of patients at heart. I believe Sino Biopharm is a good home for the business and will be committed to Softhale’s mission of developing innovative technologies to treat multiple respiratory conditions to help millions of patients globally.”
Sino Biopharm Executive Director and Chairwoman Theresa Tse said, “Softhale is an excellent fit with our ambition to become a global leader in treating respiratory diseases, which become an ever more pressing medical concern globally and in China in particular. We are committed to support the Softhale team in further developing its innovative platform.”
Read the New Rhein Healthcare Investors press release.
