Boston-based private equity firm THL Partners has taken a majority stake in Yardley, Pa.-based Red Nucleus, the 30-year-old firm providing a range of services to life sciences organizations said. THL said it invested in Red Nucleus through its flagship Fund IX. Financial terms were not disclosed.
Together with the deal, Red Nucleus founder Ian Kelly, who has led the firm since 2019, stepped down as CEO. He will be succeeded by industry veteran Mike Menta, who previously led the Consulting and Enterprise Solutions divisions at Syneos Health. Kelly will stay on as chief relationship officer and serve as vice chairman of the board.
Multinational Operations
“When I founded Red Nucleus, I had a vision to fill a critical gap in the pharmaceutical value chain,” said Kelly. “I’m proud of the work we’ve done for our customers and the very real impact we’ve had on the lives of patients, and I’m thrilled to partner with Mike Menta as we build on this strong foundation and expand that impact in the years to come.”
Red Nucleus operates in seven countries, and has a global team of 700 professionals that provide scientific, process, training and market access expertise to life sciences organizations, helping them bring innovative therapies to market. Its customers include over 200 organizations, including biotech startups and a majority of the top 25 global pharmaceutical companies by market capitalization.
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“In a moment when scientific breakthroughs are contributing to the production of life-saving and life-changing therapies, the mission at Red Nucleus could not be more critical,” said Menta. “The company is instrumental in helping its customers move new molecules to market. We have a unique opportunity to broaden and deepen that work, and I could not be more excited to work with such a talented and dedicated team of professionals.”
25-Year Ties With Pharma
Over the past half-century, THL has raised more than $35 billion of equity capital, and invested in over 170 companies. Its portfolio firms have in turn completed more than 600 add-on acquisitions, representing an aggregate enterprise value at acquisition of over $250 billion, THL says. The firm has engaged with pharmaceutical firms for over 25 years. Its investments in the sector include Fisher Scientific, PCI Pharma Services, Syneos Health, CSafe, and Adare Pharma Solutions.
“With Mike Menta at the helm, and Ian Kelly in an important new leadership role, Red Nucleus is uniquely positioned for success,” said Megan Preiner, THL managing director. “Mike’s two decades of work in clinical, medical and commercial roles establish him as a recognized leader in pharmaceutical commercialization, and Ian’s industry knowledge and deep customer affinity make him an invaluable part of the company’s next growth stage. It’s the right team, for the right company, at the right moment.”
