The US-based firm will use the investment to fund its future growth in the production of manufactures safe, affordable generic inhalation medicines and suspensions
Nephron secures $350m of funding. (Credit: Credit Commerce from Pixabay)
Nephron Pharmaceuticals, a US-based respiratory inhalation solutions developer, has secured $350m in financing to support its future growth.
The funding round was led by BlackRock Capital Investment Advisors and PNC Bank, National Association.
The announcement, which was the result of collaboration between the leaders of all three organisations, marked the start of a new era for the pharmaceutical firm.
Nephron is known for creating jobs in South Carolina and providing patients with life-saving pharmaceuticals from coast to coast.
Nephron CEO and owner Lou Kennedy said: “When I had the honour of assuming the role of CEO at Nephron, I had a vision that included expanding the reach of our company to deliver life-saving medications to as many patients as possible.
“We have never lost our focus, we have continued to grow, and, with this partnership, we are in the position to thrive. This is something we can all celebrate, as we help patients and doctors far beyond the borders of our state.
“I thank our partners at BlackRock, PNC, and not to mention, many others who have invested in our cause and had our backs. We look forward to working together for many years to come.”
The US-based firm creates and manufactures safe, affordable generic inhalation solutions and suspensions.
The company also runs a 503B Outsourcing Facility section to meet hospitals’ demands for pre-filled sterile syringes, luer-lock vials, IV bottles, and IV bags during times of medicine shortage.