Slayback Pharma gets $50 million investment from The Everstone Group

Princeton, N. J.-based Slayback Pharma is shoring up its generics and specialty pipeline. The company on Wednesday announced that The Everstone Group is investing up to $50 million in Series B funding.

The new capital will be used to expand and accelerate further Slayback's pipeline of complex generic and specialty pharmaceutical products, Slayback said.

In addition to the investment, Everstone managing directors Arjun Oberoi and Puncham Mukim will join Slayback's board of directors. Everstone joins existing institutional investor KKR, who first invested in Slayback with a $60 million commitment in December 2016.

"We are delighted to partner with Everstone in our quest for smart solutions to complex pharmaceutical challenges. Their experience in investing in and building pharmaceutical businesses with a focus on regulated markets will help turbo-charge our growth pipeline of complex and specialty products. We are especially thrilled to welcome Arjun and Puncham to our board," Ajay Singh, founder and CEO of Slayback, said.

Sameer Sain, co-founder and CEO of Everstone, said: "Slayback's expertise in complex generics fits well with our healthcare investment strategy. Slayback joins our list of notable healthcare investments, and we are optimistic about the commercial potential of Slayback's highly differentiated pipeline of complex generics developed by its strong R&D team in India. We are excited to become a part of Slayback as it is poised for its next wave of growth."

"Since our initial investment in Slayback, the growth that the company has achieved in its portfolio and pipeline has been rather remarkable. As we look ahead to the next chapter of Slayback's growth, we are delighted to be working with Everstone to help scale the company and its differentiated products even further," said Ali Satvat, co-head of KKR's Health Care investment team and member of Slayback's board of directors.