(New York, NY) June 4, 2019 – WindRose Health Investors, LLC (“WindRose”), the New York-based healthcare private equity firm, announced the completion of an equity recapitalization of Lykan Bioscience Holdings, LLC (“Lykan” or the “Company”). Lykan is a manufacturing services organization focused on providing outsourced end-to-end production and logistics solutions for pharmaceutical and biotech companies focused on cell and gene therapies. The Company’s manufacturing and logistics processes are engineered to maximize quality, efficiency and volume, shortening the time required to complete clinical trials and provide life-saving cell and gene therapies to patients. Terms of the transaction were not disclosed.
WindRose partnered with Lykan’s executive team to provide capital to support growth. The investment will provide Lykan with the resources to expand its operations and complete the build-out of a 60,000+ square foot cGMP facility that will manufacture therapies for clinical and commercial use.
Tony Rotunno, the Chief Executive Officer commented, “Lykan’s vision is to provide high quality, cost-effective manufacturing solutions to the pharmaceutical industry, enabling companies to accelerate development and access to cell and gene therapies for patients. We are thrilled to partner with WindRose as we continue to build a true end-to-end solution in cell and gene therapy manufacturing. In addition to capital, WindRose’s deep network of relationships in the healthcare market will be incredibly valuable as we rapidly grow our Company.”
“We are excited to be partnering with Tony and the rest of Lykan’s highly experienced management team,” said CJ Burnes, Partner with WindRose. “Lykan represents an attractive opportunity for WindRose to support a differentiated and emerging platform that provides high quality, complex cell and gene therapy manufacturing solutions for a growing, but capacity-constrained market.”
Covington Associates acted as financial advisor to Lykan. McDermott Will & Emery LLP acted as legal advisor to WindRose and Greenberg Traurig, LLP acted as legal advisor to Lykan.
About Lykan Bioscience
Lykan Bioscience is a manufacturing services organization based in Hopkinton, MA that is focused on providing outsourced end-to-end production and logistics solutions for pharmaceutical and biotech companies focused on cell and gene therapies. The company’s platform offers guaranteed, high quality manufacturing capacity for pharmaceutical and biotech companies with products in both clinical trials and commercial production.
For more information please visit www.lykanbio.com.
WindRose Health Investors, LLC (“WindRose”) makes equity investments in companies that operate within the services sectors of the healthcare industry. We focus on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.4 billion in investments and is currently investing out of its fifth fund. We are based in New York City and invest in companies throughout the United States.
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