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Specialty pharmaceutical company brand EPI HEALTH sold to Novan, Inc.

 Evening Post Group (“EPG”), a family-owned operating group based in Charleston, South Carolina, is excited to announce the successful sale of EPI Health, LLC to Novan, Inc (NASDAQ: NOVN), a public specialty dermatology company based out of Durham, North Carolina.

EPI Health, first acquired by EPG in 2017, is a specialty pharmaceutical company focused on dermatology with various FDA approved medicines through several product acquisitions. EPI Health has become a leader in the space, operating a sales force of approximately 40 employees servicing dermatologists nationwide. The acquisition allows for EPI Health’s product portfolio to continue to address important medical issues alongside Novan’s innovative pipeline. EPG looks forward to watching the company’s next chapter with Novan.

EPG President and CEO Terry Hurley commented: “We are proud of what EPI Health has accomplished under EPG ownership. We see this acquisition as a great strategic fit for Novan and look forward to seeing the combined company take the next step in dermatology treatment.”

The transaction structure includes a closing purchase price of $27.5M consisting of $11M cash and $16.5 million as a 24-month seller note. Additional performance earnouts and specified milestones achieved by EPI Health’s products could increase the total consideration to approximately $50M.

Blank Rome LLP acted as legal advisor to EPG in connection with this transaction.

About EPG
EPG is a family-owned operating group based in Charleston, South Carolina focused on acquiring and building exceptional businesses. Our approach is acquiring sustainable, differentiated businesses and providing the operational, strategic, and financial support to grow cash flows. EPG began in 1896 as a single newspaper and has evolved into an operator of businesses in various sectors through over 20 acquisitions in the past decade. EPG remains an active acquiror targeting middle market businesses across multiple industries.

About Novan
Novan develops and markets therapeutic products for skin diseases. The company has a robust pipeline of products with the goal of delivering safe and effective therapies.
H.C. Wainwright & Co. acted as financial advisor and Smith Anderson acted as legal advisor to the Company in connection with this transaction.

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Paige Durham

SCbio is pleased to welcome Paige Durham to the team as communications coordinator to creatively and effectively communicate the value of the life science association’s programs and initiatives.

Durham will be responsible for developing and distributing high-quality content across multiple communications channels to build, advance and grow South Carolina’s life sciences industry, a key business sector for economic prosperity for the Palmetto State.

“SCbio is excited to welcome Paige to our team as our new communications coordinator. Paige brings fresh ideas and a strong background in communications that will be invaluable as we continue to strengthen our engagement with our audience,” said SCbio President and CEO James Chappell. “We are confident that her skills and experience will be crucial in advancing our communication strategies and supporting our mission.”

Before joining SCbio, Durham was the Membership and Communications Manager at the South Carolina Pharmacy Association (SCPhA), where she used her photography, design and writing skills to create content tailored to pharmacy professionals. Durham’s effective communication skills guaranteed the delivery of brand-specific material that captured the eye of her audience.

During her time at SCPhA, Durham created and edited the Palmetto Pharmacist Journal, using her creative vision to showcase members, educational institutions and industry news. Her communications efforts successfully gained new followers for the organization over the course of a year, increasing brand visibility and promoting the pharmacy profession.

Durham holds a Bachelor of Science in hospitality and tourism management and a Bachelor of Science in business administration from the College of Charleston.

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.