Audax Private Equity Invests in Pyramid Laboratories
Posted on 04/18/2023
Audax Private Equity made a growth investment in Pyramid Laboratories, Inc. to support the continued growth of the Company’s clinical and commercial biologics and advanced therapeutics manufacturing and service operations. Founded in 1988 by Medhat Gorgy and headquartered in Costa Mesa, CA, Pyramid is a drug product contract development and manufacturing organization (CDMO). The company provides formulation development, analytical and stability testing, as well as aseptic fill-finish manufacturing services focused on large molecule therapeutics. Pyramid has built a strong reputation for quality, technical expertise, and dedication to customer service with a comprehensive offering spanning preclinical development to scaled commercial manufacturing and distribution services.
Pyramid was sourced through Audax Private Equity’s Healthcare vertical, one of six core industry specializations within its Flagship fund. Audax has experience in the pharmaceutical services space with previous investments including Altasciences, a pre-clinical CRO, and Advarra (formerly known as Chesapeake IRB), a provider of independent institutional review board services to pharmaceutical companies and other research institutions. Audax also maintains an active portfolio of pharmaceutical services investments, including CorEvitas, a gold-standard provider of regulatory-grade real-world evidence to biopharmaceutical companies. Since inception, Audax Private Equity has acquired more than 160 platforms and completed over 1,200 add-on acquisitions.
Advisors
William Blair served as financial advisor and Ropes & Gray LLP served as legal counsel to Audax. Fairmount Partners served as financial advisor and Troutman Pepper served as legal counsel to Pyramid.
