Advent to invest $175 million in Felix Pharma to acquire minority stake

Advent, a private equity investor, has announced that funds managed by it have signed a definitive agreement to invest $175 million via primary and secondary capital for a significant minority stake in Dublin, Ireland-based Felix Pharmaceuticals Pvt. Ltd. (Felix), a global Gx animal pharma player.

Felix Pharma is one of the developers and manufacturer of off-patent medicines for companion animals.

Felix develops, manufactures and supplies to distributors and other branded Gx players for private labelling, particularly in the U.S.

Shweta Jalan, Managing Partner, Advent, said, “Healthcare has been a long-standing focus for us, and strong parallels we see between success in human Gx globally and emerging opportunity in animal health Gx. Felix is well positioned to lead this space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities.”

“Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise,” she added,

Founded in 2015 by Neeraj Agrawal, a McKinsey alum, Sir Jonathan Symonds, Chair of GSK and with 30 years of experience in global pharmaceuticals, and Dr. Shumeet Banerji, ex-CEO of Booz-Allen, Felix said it has pursued strategic growth through a disciplined approach,

While the company achieved its first U.S. FDA approval in 2020, it has quickly scaled to a 14 commercialised product portfolio and has several others in advanced stages of pipeline.

It has a USFDA-approved oral solid facility dedicated to animal health products and an injectable facility that is expected to be ready by Q3 2025.

Neeraj Agrawal, Co-Founder, Felix Pharma, said, “As we scale in a fast-evolving market, we were looking for a partner who brings not just capital, but also deep operating expertise and the right mindset and networks to help us grow faster and stronger. Advent’s strong track record in healthcare and pharma, and their close involvement in building strong businesses, gives us great confidence.”