The Velit transaction is an important step for Kelso’s ambition to expand into the rest of Europe
UK-based specialty pharma business, Kelso Pharma has closed the acquisition of Italian specialty pharma company, Velit Biopharma, taking the first step to its European expansion.
The Kelso group of companies, which also includes Glasgow-based Stirling Anglian Pharmaceuticals (SAP), announced its plan to acquire Velit on 13 November 2023.
Velit is specialised in developing “hard to make” medicines, which are made available to patients through partnerships with pharma companies and distributors across Europe, Asia and the Middle East.
Currently, the company has more than 100 partnerships in 48 regions/countries covering 167 products, with more than 15 further launches planned from this year onwards.
Velit’s portfolio features products focused on gastroenterology, dermatology, women’s health, oncology and ophthalmology.
The Velit transaction will further extend Kelso’s therapeutic range, with a number of products available to be commercialised in the UK through its existing infrastructure.
Kelso Pharma CEO, Dr Tom Stratford said: “We welcome the Velit team to Kelso Pharma. I am confident that, together, we can build on this deal as a springboard for our European expansion while continuing to meet the needs of our patients and clinicians.”
Dr Nicola Travierso of Velit, said: “We are delighted to become part of the Kelso Pharma family and look forward to helping Tom and the team grow the business together.”
Established in in 2020, Kelso Pharma focuses on bringing innovative, value added, specialty medicines to the European healthcare markets, with an aim to improve the lives of patients in a cost-effective and ethical manner.
In 2022, Kelso Pharma acquired Glasgow-based SAP, which already has four medicines in the UK healthcare market, including Acepiro (Acetylcysteine) which was launched in early 2023 for treatment of respiratory diseases with viscous mucus.
Kelso completed the acquisition of two UK approved dermatology products from German pharma company, Dermapharm in October last year.
Sukhi Basra