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Celtic merges funds to create Anglo-Russian newco promising free medicines to Africa

This article was originally published in Scrip

Executive Summary

Celtic Pharma Holdings, the private equity group, is merging the assets of its CP2 and CP3 funds to create Pro Bono Bio, a new pharmaceutical holding company launched 12 September. The new company will run a business model that will allow it to sell healthcare products at prices aligned with an economy's ability to pay. Pro Bono will hit the ground running as it will also launch a nanotech-based product, Flexiseq, to treat osteoarthritic pain, in the UK, using contract sales organisations and it will conduct further launches in the following months.

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