Graeme Duncan

The funding, facilitated by existing investor Apposite Capital and debt facilities from Kartesia, was partially used for the recent acquisition of ALTURiX, which doubled Kelso Pharma’s UK presence. The remaining funds will support further expansion across the UK and Europe.

The milestone acquisition of ALTURiX in February represented a significant step forward in Kelso Pharma’s growth journey with the UK business doubling in size after the completion of the deal.

Kelso Pharma is a UK-based specialty pharmaceuticals business whose assets currently consist of Stirling Anglian Pharmaceuticals, based in Glasgow; Velit Biopharma, based in Milan; and ALTURiX, based in Milton Keynes.

Kelso Pharma was advised in this fundraising by FRP Advisory.

Alongside securing funding for further growth, the business has appointed experienced pharma executive and former ADVANZ PHARMA CEO, Graeme Duncan, as a Non-Executive Director. An influential board director with both private equity and PLC experience, Graeme is a skilled advisor, mentor and director with broad experience across the specialty pharmaceutical segment.

Dr Tom Stratford, chief executive of Kelso Pharma, said: “We are committed to continuing to grow Kelso Pharma through a blend of company and product acquisitions and this facility significantly enhances our ability to conclude transactions quickly and effectively.

“The further expansion of the business will make an important contribution to our ambition to make Kelso Pharma a partner of choice for other pharma. Bringing Graeme onto the Kelso Pharma board also enhances our experience and expertise as we continue on our growth journey.” 

Apposite managing partner, Sam Gray, said: “Ever since we backed the Kelso team to make their first acquisition we have been tremendously excited by the scale and ambition of Kelso Pharma’s growth aspirations and we are happy to have continued to play our part in providing the further funding that the business needs to deliver on that vision.”

Mr Duncan, added: “I’m delighted to be joining the board of Kelso Pharma. They have done a tremendous job in building a team, portfolio and business operation that is well set for further growth and expansion. I look forward to playing my part in helping the company on the next stage of its journey.”