Finance firm invests in Macclesfield medical communications agency
Sovereign Capital Partners has completed a significant investment in Cheshire-based Bioscript, a medical communications and regulatory writing agency.
London-based Sovereign has partnered with the management team to further develop and grow the business, which is located in Macclesfield.
Established in 2005, Bioscript is an international provider of medical communications and regulatory writing services for pharmaceutical companies.
Bioscript, with a 96-strong team, assists clients in their communications with regulatory authorities as well as educating the medical sector on pharmaceutical products that are in mid- to late-stage clinical trials and subsequently supporting these products, post-market launch, to maintain and grow sales throughout the lifecycle of the drug.
The company focuses on the clinical end of the medical communications spectrum, in addition to regulatory writing support, and has a strong reputation in the market reflected in its many longstanding customer relationships which include a number of the top 20 global pharma companies, together with other pharma and biotech clients.
Sovereign is backing the management team, led by Andrew Medley, founder and CEO, and Jill Harrison, executive director.
Chris Brinsmead joins the team as non-executive chair.
Chris brings more than 30 years of pharmaceutical experience, including an executive leadership role with AstraZeneca and non-executive directorships with UDG Healthcare and Kinapse.
Dominic Dalli, managing partner, Sovereign, said: “We have followed Bioscript for more than seven years and are delighted to be backing this highly skilled team as they look to the future.
“The market offers real opportunity, and the team are keen to build a significantly larger business in the UK and internationally.
“We look forward to bringing both our strategic investment and partnership approach.”
Andrew Medley said: “We are very pleased to have found an investment partner that shares our ambitions for the business, in what is a highly interesting and evolving market.
“We have always prided ourselves on delivering a consistently high quality service to our clients. With Sovereign’s support, we are looking forward to creating new opportunities to develop our services and expand our geographic reach, to further enhance our client experience.”
The Sovereign deal team comprise: Dominic Dalli, David Myers, Trevor Stokes, Charlie Rossetti, Nate Janks, and Jess Burgess.
Its advisors on the deal include: Legal due diligence and legals – Eversheds (Lizzy Tindall, Sam Jones, Lee Malam); financial and tax due diligence – KPMG (Simon Wormald, Damian Boardman, Bradley Keast); transaction structuring – Alvarez & Marsal (Dafydd Williams, Hugo Keane); insurance due diligence – Vista Insurance (Peter Warburton, Jamie Oliver); strategic advisor – Results International (David Sanders).
Advisors to management were: Legal – Addleshaw Goddard (Duncan Wilson and George Danczak); corporate finance – Hurst (Nigel Barratt and Lauren Roberts).