The Invent Farma/neuraxpharm Group (the group), a leading specialty generics company focussed on CNS, has announced the acquisition of FB Health SpA (FB Health), an Italy based speciality pharma company focused on neurology and psychiatry.

Located in Ascoli Piceno, Italy, FB Health is devoted to the research, development and commercialisation of innovative nutraceuticals and pharmaceuticals for the prevention and treatment of diseases in the psychiatric, neurologic and geriatric field.

FB Health was founded by Dr Francesco Bellini, a pioneer in antiviral and Alzheimer’s drug development.

FB Health will be the newest member of the group, which was acquired by funds advised by Apax Partners, a leading private equity firm, in August 2016. This marks the entrance of the group into its fourth direct geography after Germany, Spain and Poland.

“We are delighted to welcome the entire FB Health team into our group and are looking forward to supporting its development by adding more CNS products from the sister companies to the existing business in Italy.”

“With this acquisition and via future ones to come, we continue to move forward with our goal of becoming the pan-European leader in the treatment of CNS diseases,” said Stephan Walz, Chief Executive Officer of the Invent Farma/neuraxpharm Group.

Commenting on the transaction, Dr Francesco Bellini, Chairman of FB Health, said: “I am very proud of FB Health’s achievements in Italy during the past years. I want to thank management and employees for their dedication and expertise and wish them continued success as part of the Invent/Neuraxpharm family.”

Marco Marchetti, CEO of FB Health, said: “We thank our previous shareholders for their steady support during all these years. We are now happy and excited to become part of the Invent Farma/neuraxpharm family, a group in line with our strategy in addressing unmet clinical need in the CNS field, and we are delighted to contribute to the acceleration of the consolidation of the Group in this segment.”

This is the first acquisition of Invent Farma/neuraxpharm following the creation of the Group by funds advised by Apax Partners in August 2016.

Closing of the transaction is subject to customary closing conditions and is expected to occur shortly. Terms of the transaction were not disclosed.