NovaQuest Capital Management, LLC, a biopharma and life sciences investment firm, has acquired TechAccel LLC‘s, a technology and venture development organization, ownership stake in Covenant Animal Health Partners.
Covenant is a new product development partnership formed by TechAccel and Reliance Animal Health Partners in 2018. The acquisition will leverage Nova’s capital and expertise with Covenant’s development and registration knowledge to bring animal products to market. Following the deal, Covenant will focus on critical market needs across production and will further new assets into industry partner portfolios.
“We are truly excited to be a part of Covenant and work with their accomplished industry leaders,” said Brian Axe, managing director at NovaQuest. “The investment in Covenant will allow NovaQuest to expand the development universe and continue to support innovation growth in animal health.”
Wyrick Robbins Yates & Ponton LLP acted as legal counsel to NovaQuest, Polsinelli acted as legal counsel to TechAccel, and Barbara Renda, Esq. acted as legal counsel to Reliance.