GUILDFORD, UK and DURHAM, NC — MedPharm, a global topical and transdermal Contract Development and Manufacturing Organization (CDMO) and Ampersand Capital Partners portfolio company, announced a merger with Tergus Pharma, a Great Point Partners portfolio company. The combined organization will operate under the MedPharm name, establishing a leading, end-to-end CDMO with robust scientific, clinical trial manufacturing and commercial production capabilities. As part of this transaction, Tergus Pharma CEO Michael Kane has been appointed CEO of MedPharm while Patrick Walsh will continue to serve as Executive Chairman of MedPharm.

The merged business is well-positioned as a global leader in delivering a full suite of drug development and manufacturing services to innovators of all sizes focused on advancing topical and transepithelial pharmaceuticals. The strategic combination of Tergus and MedPharm's capabilities enables commercial production and serialization to existing formulation development, in vitro testing and clinical manufacturing within one integrated organization. Expanded capabilities will also include the development and manufacture of hormone-based and highly potent drugs at the Company's GMP manufacturing facility in Durham, NC.

Michael Kane commented, "This strategic partnership is an exciting opportunity to deliver extensive pharmaceutical product development resources fueled by a robust team of scientific experts while leveraging our cutting-edge topical GMP facility to seamlessly meet our customers' commercial production needs. With locations in both the United Kingdom and the United States, we are well positioned to provide exceptional support to our existing and prospective pharmaceutical clients."

MedPharm Executive Chairman Patrick Walsh added "Pharma clients have been seeking a reliable, integrated service offering for their ophthalmic, topical and transdermal development and manufacturing projects. This merger creates an immediate option with two organizations already well-positioned in the industry."

Tergus lead investor Great Point Partners will retain a significant minority ownership stake in the newly combined MedPharm, while private equity firms Ampersand Capital Partners and Bourne Partners Strategic Capital assume majority ownership.