Palette Life Sciences to be Acquired by Teleflex
Back Bay congratulates our friends and colleagues at Palette Life Sciences on their sale to Teleflex.
Back Bay Life Science Advisors served as advisors in the formation of Palette, including licensing negotiation of the core technology platform and three key assets from Nestle Skin Health; indication and prioritization of Barrigel and advising on the commercial strategy for Barrigel. Back Bay also assisted in a $30 MM fundraise on behalf of Palette Life Sciences.
Teleflex Incorporated (NYSE:TFX), a leading global provider of medical technologies, announced it has entered into a definitive agreement to acquire privately-held Palette Life Sciences AB for an upfront cash payment of $600 million at closing, and up to an additional $50 million upon the achievement of certain commercial milestones.
“We have known Palette for many years, helping them as their investment banker in the formation of the company, as well as giving business development advice across several strategic consulting projects," said Gregory Benning, Head of Investment Banking, Back Bay Life Science Advisors. Palette exemplifies Back Bay's role as a long-term trusted partner from company formation, to product development and commercial growth, to value realization. We're very proud of their success and this outcome."
About Palette Life Sciences
Palette Life Sciences is a fully-integrated, commercial-stage life science company focused on urology and urogynecology disorders, colorectal conditions, radiotherapy, and interventional oncology procedures. For more information, please visit: www.palettelifesciences.com
About Teleflex Incorporated
Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. Teleflex applies “driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers.” The Teleflex portfolio includes solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. For more information, please visit teleflex.com.
About Back Bay Life Science Advisors
Back Bay Life Science Advisors provides strategic and investment banking guidance and execution to global biopharma and medtech companies of all stages and sectors. With unique integration of life science strategy and investment banking, Back Bay Life Science Advisors enables global companies and investors to make informed decisions regarding product development, commercialization, franchising, licensing, partnering, M&A, divestitures and more.
Back Bay, together with DNB Bank, announced the DNB // Back Bay Partnership in 2023. This Partnership provides a full range of strategic and financing capabilities for healthcare companies, including strategy, equity and debt capital markets, M&A and resources. Our combination of expertise spans more than 110 years and 1,000+ successful projects and transactions.