Prange Group Sells Remaining Shares in Adragos Pharma
German contract development and manufacturing organization (CDMO) Prange has sold all remaining shares in Adragos Pharma to FSN Capital.
In 2021, FSN Capital partnered with Prange Group, Plettenberg, Germany, to accelerate the development and growth of Adragos Pharma. Over the past five years, Adragos Pharma has expanded its international network and capabilities across Europe and Japan. Now, Prange Group has sold all of its remaining shares in Munich-based Adragos Pharma. Following the transaction, FSN Capital VI together with management remains the sole shareholders in Adragos Pharma. The parties have agreed not to disclose the financial details of the transaction.
Kostas Rengis, CEO of Adragos Pharma, commented: “We thank Prange Group for its contribution to Adragos Pharma over the past years. With FSN Capital’s continued support, we are now focused to further strengthen our operations, expand our development services, enhance our international network and continue to build Adragos into a leading international CDMO supporting our customers from clinical development and trials to commercial manufacturing.”
Adragos Pharma operates an integrated CDMO network comprising its R&D center in Athens and manufacturing sites in France (Maisons-Alfort and Livron), Switzerland (Jura), Germany (Leipzig) and Japan (Kawagoe).
With the completion of the transaction, Prange Pharma, the pharmaceutical holding and operating company of the family-run Prange Group, will place a stronger strategic focus on expanding its own operational CDMO platforms in human and animal health.
Sebastian Heckerodt, CEO of Prange Pharma, said: "We look back on the joint development of Adragos Pharma with great appreciation. Now we want to further expand our CDMO activities with Halden Pharma and Aprilia Animal Health and develop strong partnerships with our customers and teams in the long term."
