Avista Pharma Solutions Acquires Solid Form Solutions

Combination Strengthens CDMO’s Early Phase Drug Development Offering

DURHAM, N.C.–(BUSINESS WIRE)–Avista
Pharma Solutions, Inc. (“Avista Pharma”) announced today that it has
completed the acquisition of Solid
Form Solutions, Ltd. located in Edinburgh, Scotland. Solid Form
Solutions is a leading provider of solid state chemistry and
crystallization development services for clients in the pharmaceutical
industry. The addition of Solid Form Solutions further expands Avista
Pharma’s existing solid phase chemistry services and provides both
companies’ customers seamless access to a full suite of drug development
services ranging from analytical development to API and drug product
manufacturing.

“This acquisition is evidence of our ongoing commitment to provide our
clients the most efficient path to success with their drug development
and manufacturing projects,” said Patrick Walsh, CEO of Avista Pharma.
“Solid Form Solutions has a reputation of providing valuable early phase
services that significantly reduce risk and improve speed later during
the drug development process.”

Solid Form Solutions will continue operating in its Edinburgh, Scotland
facility, providing clients with services including salt screening and
selection, co-crystal and polymorph screening, crystallization
development, and other analytical testing and development.

Dr. Stephen Watt, CEO of Solid Form Solutions, said, “Solid Form
Solutions has been built on deep scientific expertise and an intense
focus on the needs of our clients, and those characteristics directly
align with our colleagues at Avista Pharma. We are excited to be able to
bring a broader array of drug development services to our clients while
avoiding the time and costs associated with tech transfer to a
third-party.”

The acquisition of Solid Form Solutions follows a year of significant
investment in facilities and capacity expansion for Avista Pharma.
During 2017, Avista Pharma announced the expansion of its analytical
research and development capabilities in Durham, NC, its API
and drug product manufacturing capacity in Longmont, CO, and its microbiology
and sterility testing capabilities in Agawam, MA. Avista Pharma is a
portfolio company of Ampersand Capital Partners.

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ABOUT AVISTA PHARMA SOLUTIONS, INC.:

Avista Pharma Solutions is a contract development, manufacturing, and
testing organization that understands what it takes to rapidly advance
products through every stage of development. With over
200,000 square feet of laboratory and manufacturing space in the U.S.
and U.K., Avista Pharma offers a broad suite of
scientifically differentiated services ranging from early stage
discovery, API and Drug Product development and cGMP manufacturing to
stand-alone analytical and microbiology testing support. Led by our
broad experience and collaborative approach, we are committed to finding
the shortest, most efficient path to success for our clients – success
that goes beyond science. For more information on Avista Pharma visit www.avistapharma.com.

ABOUT AMPERSAND CAPITAL PARTNERS:

Founded in 1988, Ampersand is a middle market private equity firm
dedicated to growth-oriented investments in the healthcare sector.
Ampersand leverages its unique blend of private equity and operating
experience to build value and drive superior long-term performance
alongside its portfolio company management teams. Ampersand has helped
build numerous market-leading companies across each of our core
healthcare sectors, including Avista Pharma, Brammer Bio, Confluent
Medical, Genoptix, Talecris Biotherapeutics and Viracor-IBT
Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.

Contacts

BAERING
Jordan Watkins, 919-233-6600
[email protected]