Private equity firm GTCR is once again joining forces with pharmaceutical industry veteran Ed Fiorentino, this time to focus on acquisitions of specialty companies and products in the industry. This is the third partnership for GTCR and Fiorentino.
The new venture, TerSera Therapeutics, will initially target acquisitions of products that are already approved, marketed and late-state development assets. The investment will be financed through the $3.85 billion GTCR Fund XI. Fiorentino, who spent 22 years at Abbott Laboratories (NYSE: ABT), will serve as chairman and CEO of TerSera.