TPG Invests in AnovoRx
Investment will help expand access to and delivery of orphan rare disease drugs for patients with complex and chronic conditions
SAN FRANCISCO & FORT WORTH, Texas & MEMPHIS, Tenn.--(BUSINESS WIRE)--TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, today announced that it made a significant minority investment in AnovoRx Holdings, Inc. (“Anovo”), a leading provider of specialty pharmacy services and customized treatment and support programs that address the unique needs of patients with certain complex and chronic diseases. Terms of the transaction were not disclosed.
Anovo acts as a value-added partner and full-service specialty pharmacy to its biopharmaceutical manufacturer clients, helping them develop comprehensive patient support programs, navigate insurance reimbursement for patients, manage logistics related to monthly delivery to patients, and educate patients to promote proper medication utilization and adherence, resulting in optimal health outcomes.
“We were looking for a partner with deep experience and an extensive track record of success in our industry,” said Jon Peters, Founder and President of Anovo. “TPG has built a broad network across both the life sciences and pharmaceutical services industries and brings unique relationships, capabilities, and resources that will allow us to enhance our service offering and grow our business. Our manufacturer customers and the patients who rely on their therapeutics will benefit tremendously from our new partnership with TPG.”
“Anovo is providing a full suite of best-in-class services for biopharmaceutical manufacturers to reach the patients who depend on their therapeutics every day,” said Zach Ferguson, Managing Director at TPG Growth. “In a growing and increasingly competitive market, Anovo’s world-class management team and Board has positioned the company as a vital and trusted partner for both patients and biopharmaceutical manufacturers. We are excited to work with the Anovo team to build on the success they’ve already achieved and to further expand the business.”
TPG is a leading global healthcare investor and has made numerous growth stage investments across the sector. Those transactions include BGB Group, Implantable Provider Group, Pharmeasy, Stelis Biopharma, and Vasaragen.
Founded in 2013 by a team of specialty pharmacy industry veterans, Anovo provides a comprehensive end-to-end suite of services to help manufacturers plan for and launch specialty products for patients with rare diseases and often difficult and devastating complex conditions. Anovo provides all of the services necessary from the point the product is manufactured all the way to delivery to the patient including third-party logistics, patient support services, and specialty pharmacy program management and dispensing through its three operating subsidiaries. Through its comprehensive model, Anovo achieves superior patient, prescriber and manufacturer satisfaction results by streamlining the product supply chain and access, and helping patients and prescribers navigate access to critically needed drugs to realize the optimal clinical and life-changing outcomes the drugs produce for patients.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $15.2 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The platform is backed by the resources of TPG, which has approximately $109 billion of assets under management. For more information, please visit www.tpg.com or on Twitter @TPG.
Director, External Affairs