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Zambon Acquires Sofinnova Partners’ Breath Therapeutics

Italian pharma company purchases Breath Therapeutics for €500 million, with €140 million up front

By: Cassandra Gervolino

Sofinnova Partners announced that Zambon is acquiring its portfolio company Breath Therapeutics for as much as €500 million. Sofinnova Partners will exit Breath Therapeutics after a holding period of two and a half years.
 
“Breath Therapeutics is a perfect symbol of our investment strategy: cutting-edge platform and products developed by brilliant entrepreneurs for a debilitating disease with no effective treatment,” said Graziano Seghezzi, managing partner, Sofinnova Partners and Breath Therapeutics’ board member. “We had a clear vision in mind for a transatlantic operation with strong bases in Europe and in the U.S. to maximize the commercial opportunity. We’ve achieved that vision and assembled a stellar management team by complementing the founders’ European skills with deep U.S. clinical, regulatory and commercial expertise.”
 
Breath Therapeutics’ chief executive officer, Dr. Stegemann, said, “Sofinnova Partners played an instrumental role in getting our company through its first years and early expansion. We’re thrilled with how successful we have moved forward the developed of our lead drug L-CsA-i and how quickly the company has grown, and now looking forward to moving into a new dimension via the Zambon acquisition.”

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