Thomas H. Lee Partners and Frazier Healthcare Partners Acquire Adare | Region

BOSTON & SEATTLE–(BUSINESS WIRE)–Sep 22, 2020–

Thomas H. Lee Partners, L.P. (“THL”) and Frazier Healthcare Partners (“Frazier”) today announced they have acquired Adare Pharmaceuticals, which will be rebranded Adare Pharma Solutions (“Adare”), a leading specialty contract development and manufacturing organization (CDMO) and global provider of advanced pharmaceutical technologies, from TPG Capital. The acquisition includes Adare’s CDMO, pharmaceutical technology and microbiome businesses, while TPG Capital will retain rights to Adare’s Eosinophilic Esophagitis (EoE) product, which has been spun out into a separate entity.

The partnership with THL and Frazier will help accelerate the momentum Adare has achieved in helping pharma companies develop and manufacture transformative medicines that improve patient health and outcomes. As part of an acceleration of these efforts, the rebrand to Adare Pharma Solutions will reinforce the Company’s ability to provide end-to-end CDMO capabilities and proprietary technologies, and its commitment to providing first class customer service.

“Adare has a

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US-Based RICOVR Healthcare and IIT Madras Receive ‘Ignition Grants’ Award for COVID-19 Diagnostic Device

RICOVR Healthcare and IIT Madras

RICOVR Healthcare and IIT Madras
RICOVR Healthcare and IIT Madras
RICOVR Healthcare and IIT Madras

Princeton, USA, Sept. 15, 2020 (GLOBE NEWSWIRE) — The Biosensor Platform uses a small drop of saliva to provide high quality, cost-effective results in 5 minutes & detect active viral particles on the spot without needing a specialized apparatus

RICOVR Healthcare Inc., an US-based rapid diagnostics platform company and IIT Madras have developed a revolutionary point-of-care COVID-19 antigen test that can provide results in five minutes using saliva. This project won the prestigious ‘Ignition Grants’ Award from the U.S. India Science and Technology Endowment Fund (USISTEF).

USISTEF, a joint fund established by the U.S. and India to promote innovation through science and technology, announced the results recently after a rigorous binational review process of over 400 proposals, The Ricovr-IIT Madras team was selected for its out-of-the-box, innovative idea to address the COVID-19 challenge.

RICOVR Healthcare’s

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Silicon Valley Bank Hires Sunita Patel as Head of Business Development, Technology and Healthcare

Building Silicon Valley Bank’s Technology and Healthcare Business
In her role as Head of Business Development, Sunita will oversee venture capital relationship management, corporate venture relationship management, sales origination and SVB’s emerging managers practice across the US. She will report to Dave Sabow, Head of Technology and Healthcare Banking, North America and will be based in Palo Alto, California. 

“The opportunities for our clients in the innovation economy continue to grow and we are fortunate to have the experienced professionals on staff who can help accelerate their success,” said Mike Descheneaux, President of Silicon Valley Bank. “Sunita has been helping innovative companies and their investors build their businesses for many years and we are thrilled to have her join our team at SVB. We look forward to helping many more clients together.”

Sunita has spent her entire career focused on the innovation economy and has extensive experience

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