Jubilant Pharma completes stake sale in Sofie Biosciences

Merger with Trilantic Capital Partners leads to strategic disinvestment

Jubilant Pharma (JPL), has finalised the sale of its 25.8 per cent stake in Sofie Biosciences, USA. This divestment follows Sofie’s merger with private equity funds managed by Trilantic Capital Partners, North America.

In November 2020, JPL initially invested USD 25 million in Sofie. By January 2024, Sofie entered into a definitive merger agreement with Trilantic Capital Partners. This merger has now concluded, resulting in JPL receiving USD 115.9 million on May 31, 2024, with an additional USD 1.2 million held in escrow for post-closing adjustments. 

Moreover, JPL may receive up to USD 25.8 million contingent on future milestones. According to the statement, the proceeds will be utilised to reduce leverage, fund capital expenditures, and support other corporate purposes.