Bourne Partners, The Carlyle Group and Industry Veterans Launch Millicent Pharma with Femring Acquisition
May 21, 2018
Charlotte, NC – May 21, 2018 – The Carlyle Group (“Carlyle”, NASDAQ: CG), a global alternative asset manager, and Bourne Partners (“Bourne”), a financial services firm focused in healthcare, along with pharma veterans Dr. John King, Roger Boissonneault and Geoffrey Elliot, have jointly launched Millicent Pharma. Millicent Pharma, the culmination of Phoenix Therapeutics (“Phoenix” the global pharmaceutical platform created by Carlyle and Bourne in 2015), seeks to build a global end-to-end pharmaceutical company through acquisition and the development of acquired pharmaceutical products. Femring, a vaginal ring treatment for menopausal women, was acquired from Allergan (NYSE: AGN) and serves as the first acquisition by Millicent Pharma.
Founder and CEO of Bourne Partners, Banks Bourne commented, “When we formed our Phoenix partnership with Carlyle we knew we would be able to source a compelling team and other partnerships. Our 20+ year relationship with John and Roger represented an outstanding opportunity for Phoenix. We couldn’t think of a better team to fulfill Phoenix’s mission and strategy.”
Dr. King will serve as Chairman of Millicent Pharma, Mr. Boissonneault as Chief Executive Officer (CEO) and Mr. Elliott as Chief Financial Officer (CFO). Prior to Millicent Pharma, Dr. King, Mr. Boissonneault and Mr. Elliott took Warner Chilcott (NYSE: WCRX) private (in 2005) and then took it public again in 2006, leading to its subsequent sale to Actavis in 2013 ($9 billion). WCRX was a global pharmaceutical company specializing in women’s health, gastroenterology, urology, and dermatology. At Warner Chilcott and its predecessor companies, Dr. King served as Non-Executive Chairman, Executive Chairman, and CEO, Mr. Boissonneault as CEO, and Mr. Elliott as CFO. Several former Warner Chilcott senior executives who have proven track records in the pharmaceutical industry are also joining the Millicent Pharma leadership team. Bourne Partners Strategic Capital (”BPSC”) and Carlyle are investors in Millicent.
About Millicent Pharma
Millicent Pharma is a pharmaceutical company that is focused on improving patient lives and outcomes and seeks to acquire, develop, manufacture, and commercialize pharmaceutical products globally. The executive team at Millicent Pharma – John King, Roger Boissonneault, and Geoffrey Elliot – will seek future acquisitions with the financial backing of the executive team and The Carlyle Group. Millicent Pharma is headquartered in Ireland.
Bourne Partners Strategic Capital is a direct investment firm with over 15 years of specialized experience in the pharma, pharma services, OTC and consumer health sectors. The company invests in private companies in its core specialty areas where Bourne can add value. For more information, visit www.bourne-partners.com/strategic-capital.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents. For more information, visit https://www.carlyle.com/.