Searchlight Pharma Inc., a Montreal based specialty pharmaceutical company committed to improving life-long human health and wellness, has raised undisclosed amount of venture funding from Emerillon Capital and Fonds de solidarité FTQ.
Searchlight Pharma is backed by Toronto based Juno Pharmaceuticals. Philip Harrison, President at Cebelia Canada, serves as Chairman of the company.
New funds will help Searchlight accelerate and fuel business development activity that will drive Searchlight’s ongoing growth and therapeutic area expansion.
Founded in 2014, Searchlight Pharma has rapidly evolved into one of the fastest growing specialty pharmaceutical companies in Canada, having concluded 9 transactions that have contributed 15 marketed products in Canada and additional pipeline candidates that are expected to launch over the next 12-18 months.
Searchlight Pharma’s flagship branded prescription products include Estragyn™ Vaginal Cream for the treatment of vulvovaginal atrophy and the family of Mona Lisa® intrauterine devices (IUDs) which are indicated for non-hormonal contraception. With additional brands like AmnioSense®blue, Cysta-Q®, Femarelle®, Oesclim® TDS, Relactagel® and Zestica™ Moisture, the breadth of Searchlight’s product portfolio has also made it one of the most significant healthcare players addressing women’s healthcare interests in Canada.
“We are thrilled to partner with Emerillon Capital and the Fonds de solidarité FTQ to support Searchlight Pharma’s ongoing growth,” said Mark Nawacki, President and CEO of Searchlight Pharma. “Both of these investors have extensive experience in life sciences, and understand what is required for companies like Searchlight to succeed in today’s competitive environment. Given the pace and scope of our business development activities, access to the deep financial resources and support of these two partners is extremely valuable and provides Searchlight Pharma with the means to achieve its growth ambitions.”
For his part, Pierre Cantin, Senior Investment Director at CIC Capital, for Emerillon Capital added: “We are proudly partnering with Searchlight Pharma. The management team and co-founders, Mark Nawacki, Angel Rodriguez and Robert Vinson, have successfully worked together for more than 10 years. They have, along with their fellow co-founders and shareholders, an impressive track record in the specialty pharmaceutical industry. Since they started the company, they have acquired or in licensed quality products and demonstrated commercial success. Alongside this investment, we aim to dedicate our financial and network resources to enable the company to accelerate both its organic and acquisition growth.”
“The life sciences industry is essential to Québec’s economic growth,” said Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité FTQ. “That is why the Fonds de solidarité FTQ has prioritized this sector. In line with our strategic planning, this new investment in Searchlight demonstrates the Fonds’ willingness to support Québec’s life sciences entrepreneurs. In a short period of time, Searchlight Pharma has amassed an impressive portfolio of products. This is a testimony to the company’s ability to bring the right products to market and improve people’s lives.”
photo credit: Searchlight Pharma Inc.
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