Buyout Firm GTCR Weighs Sale of Drug Company TerSera

Chicago-based private equity firm GTCR is considering a sale of TerSera Therapeutics LLC that could value the specialty pharmaceutical company at more than $1 billion, according to people familiar with the matter.

GTCR is working with financial advisers on the potential sale of the Deerfield, Illinois-based firm, the people said. Other buyout firms and pharmaceutical companies have expressed preliminary interest in acquiring the company, the people said, asking not to be identified because the matter is private.

Considerations are ongoing and GTCR could still decide against a sale, the people said.

Representatives for TerSera and GTCR declined to comment.

TerSera develops and markets specialty pharmaceutical products with a focus on oncology and non-opioid pain treatments, according to its website. GTCR set up TerSera in 2016 with industry veteran Ed Fiorentino.

The firm has since made several acquisitions including cancer treatment Xermelo, which it bought from Lexicon Pharmaceuticals Inc. for as much as $224 million last year. In 2018, TerSera acquired the rights related to pain treatment Prialt from Jazz Pharmaceuticals Plc for $80 million.

Founded in 1980, GTCR invests in sectors including health care, financial services, technology, media and telecommunications, according to its website. It has invested more than $20 billion in more than 250 companies.

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