RALEIGH – NovaQuest, a Raleigh-based biopharmaceutical investment firm, hasraised $35 million in a new private equity fund, according to a Securities and Exchange Commission filing.
NovaQuest Pharma Opportunities Fund IV L.P. focuses on buying out majority stakes in health care companies developing and commercializing new drugs globally.
It was listed as the general partner of NovaQuest Co-Investment Fund VII L.P. in the Wednesday filing.
The co-investment fund, which was organized in 2017, did not disclose what it intended to do with the proceeds in the filing, other than that some would be used for “the payment of salaries and other compensation and benefits.”
Four investors made up the sale of securities. The first sale occurred June 1, and the co-investment fund was not offering any more securities as of the filing.
Listed in the filing as “related persons” were four individuals who identified as the directors of NovaQuest Pharma Opportunities Fund IV.
Two of those individuals, Ronald J. Wooten and John L. Bradley, are founding partners with NovaQuest Capital Management.
According to Atlantic Pacific Capital’s website, NovaQuest Capital Management’s team “has worked together for over 15 years, and now has over $1.4 billion under management with their specialized investments in the global healthcare industry.”
Most recently, NovaQuest Capital Management acquired majority stake in Clinical Ink, a Winston Salem, North Carolina-based company working to improve clinical drug trials.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
The form can be found online.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism