Neuraxpharm

In Neuraxpharm, the Apax Funds saw the opportunity to create a European champion in central nervous system (CNS) specialty pharmaceuticals, consolidating a fragmented market by combining subscale single country players and investing in expanding the product portfolio.

In 2016, the Apax Funds acquired Spanish local champion Invent Farma to combine it with the German local champion, Neuraxpharm Arzneimittel, which created the foundations of the current pan-European Neuraxpharm group.

The Apax Funds partnered with Neuraxpharm to fuel its growth, investing in people, technology, international expansion and innovation:

• Strengthened group management: identified and attracted an experienced management team, including the CEO, Dr Jörg-Thomas Dierks, and CFO, Lluís Pérez, as well as new Board members with significant industry experience.

• Post-merger integration: actively supported the integration of the two businesses, established a group structure and blueprint for further acquisitions and expansion of product marketing into new countries.

• Rapid international expansion: both through acquisitions and greenfield operations, transitioned from a local player to a leading pan-European specialty pharma company with operations across 15 countries. The Apax Funds identified and supported acquisitions to expand into Italy, France, Czech Republic, Slovakia, Hungary, Austria, Switzerland and Ireland.

• Significant M&A: Under the Apax Funds’ ownership, the company closed ten significant company and product acquisitions and 60+ product in-licensing agreements.

• Invested heavily in a robust product pipeline: The Apax Funds supported Neuraxpharm to invest heavily in a robust R&D pipeline that broadened its CNS portfolio with unique value-added and high-tech medicines, helping grow the employee base to 850 and annual revenues to over €460 million.

Funds advised by Apax sold Neuraxpharm to Permira in 2020. At the time of exit, Neuraxpharm had created 150 new jobs, growing the employee base to 850 under Apax’s ownership, spanning an additional 13 countries. Apax Funds supported Neuraxpharm in its rapid growth, both organically and inorganically, closing ten significant company and product acquisitions and over 60 in-licensing agreements.