On February 12, Massachusetts-headquartered Ampersand Capital Partners announced its acquisition of Purna Pharmaceuticals.
Purna Pharmaceuticals is an independent Belgian company established in 1986. The company provides contract services for the development and manufacturing of semi-solid, powders and liquid pharmaceutical products that meet GXP standards as well as specific customer-related requirements.
Founded in 1988, Ampersand is a middle-market private equity firm with more than $3 billion of assets under management dedicated to investments in the life sciences and healthcare sectors.
As part of Ampersand’s broader life sciences portfolio, the investment creates opportunities for strategic collaboration between Purna and MedPharm, Ampersand’s topical and transdermal pharmaceutical development and manufacturing services platform. Ampersand sees meaningful potential for the MedPharm-Purna partnership to serve as the trans-Atlantic provider of choice for the formulation, development and manufacturing of topical and transdermal pharmaceutical drug products.
Achelous Partners, LLC, acted as investment banking and financial advisor to Purna in the transaction. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 22nd Life Sciences R&D acquisition of the year, as well as the 11th in the contract development and manufacturing organization (CDMO) subsector. There were 84 Life Sciences R&D deals announced in 2025, including 42 CDMO deals. In 2024, there were 92 Life Sciences R&D and 30 CDMO transactions announced.
