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Nephron, Partners Announce $350 Million Capital Raise for Future Growth

nephron

Courtesy of PR Newswire

Nephron Pharmaceuticals Corporation (“Nephron”) today celebrated a successful $350 million capital raise – led by BlackRock Capital Investment Advisors, LLC (“BlackRock”) and PNC Bank, National Association (“PNC) – to support future growth of the pharmaceutical manufacturer.

The announcement was the culmination of collaboration among leaders at all three entities and kicked off a new era of unlimited potential for Nephron, a company known for bringing jobs to South Carolina and delivering life-saving medications to patients from coast to coast.

“When I had the honor of assuming the role of CEO at Nephron, I had a vision that included expanding the reach of our company to deliver life-saving medications to as many patients as possible,” said Nephron CEO and Owner Lou Kennedy. “We have never lost our focus, we have continued to grow, and, with this partnership, we are in the position to thrive. This is something we can all celebrate, as we help patients and doctors far beyond the borders of our state. I thank our partners at BlackRock, PNC, and not to mention, many others who have invested in our cause and had our backs. We look forward to working together for many years to come.”

Huron Transaction Advisory LLC served as Investment Banker and Huron Consulting Services LLC acted as Financial Advisor while John A Sowards LLC and Maynard Nexsen PC served as Legal Counsel to Nephron.  White and Case LLP and Ropes & Gray LLP served as Legal Counsel to BlackRock, while Blank Rome LLP served as Legal Counsel to PNC.

A West Columbia, S.C.-based company, Nephron develops and produces safe, affordable generic inhalation solutions and suspension products. The company also operates an industry-leading 503B Outsourcing Facility division which produces pre-filled sterile syringes, luer-lock vials, IV bottles and IV bags for hospitals across America, in an effort to alleviate drug shortage needs. For more information, please visit www.nephronpharm.com.

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Tamia Sumpter

Tamia is a driven senior undergraduate Bioengineering student currently enrolled at Clemson University. With a strong foundation in her field, she has honed her skills through hands-on experience in research and development at Eli Lilly & Company. During her time in the ADME department, Tamia contributed significantly by working on siRNAs and their applications in finding In Vitro-In Vivo Correlation (IVIVC). Looking ahead, Tamia has set her sights on a promising career in law. She aspires to specialize in Intellectual Property Law, with a particular focus on serving as in-house counsel for leading medical device or pharmaceutical companies. Her enthusiasm for this role is palpable as she prepares to embark on her legal journey! She is also a proud member of the Omicron Phi chapter of Delta Sigma Theta Sorority, Inc., PEER Mentor for Clemson PEER/WiSE, and currently serves as the President of Clemson Bioengineering Organization (CBO). With her unique blend of scientific knowledge and legal interests, Tamia is poised to make a meaningful impact in the healthcare and life sciences industries.