BRIEF—$142 million financing for Provepharm Life Solutions

French pharmaceutical firm Provepharm Life Solutions has raised 120 million euros ($142 million) from investors Tikehau Capital.

The money will be used to accelerate internal R&D and external growth projects, in line with its existing strategy of repurposing existing molecules with the goal of maximizing their potential.

Over the coming months, Provepharm plans to begin hiring new staff in France and the USA, and to increase the size of its laboratories in Marseille.

Tikehau’s Cécile Mayer-Lévi commented: “As well as providing a private debt financing solution, Tikehau Capital will become a long-term partner of Provepharm, allowing it to capitalize on promising opportunities in high-growth markets.”