Central regions | Finance, business | Technology & innovation
One of RVC’s portfolio companies sold to global pharma giant
25 Sep '18
RBV Capital, a Russian fund set up jointly by Russian Venture Company (RVC) and R-Farm, is selling its portfolio company called Bonti with all of its innovative esthetic solutions and therapeutic drugs to Allergan, a sizable Irish pharmaceutical manufacturer, Firrma reported.
The buyer is expected to pay an initial $195m upon the closing of the deal. Back in 2016, the Russian fund sold to Allergan another of its portfolio companies, RetroSense Therapeutics that develops ophthalmological solutions; and now, following the initial payments on the two deals from the Irish (and even without further payments that will come later), RBV Capital is likely to get back all the money the investors have put up for the two assets since 2016.
“This is RBV Capital’s second successful international exit in the past years, with a huge global pharma joining as a strategic buyer. Return on investment has amounted to a triple IRR after the first tranche alone, and it may grow at a later stage, provided that KPIs are met,” RVC Investment Director Aleksey Basov commented on the development.
Allergan is a global $140+bn company. In 2015, a merger deal was closed between the Irish and Pfizer, a U.S.-based multinational, heralding the biggest such transaction in the history of the global pharmaceutical sector.