Kelso Pharma expands into Europe with buy of Velit

UK-based Kelso Pharma today revealed it has taken its first step in its European expansion strategy by agreeing to acquire Italy’s Velit Biopharma which, like Kelso is a specialty pharma company. Financial terms of the transaction are not disclosed.

With more than 100 partnership agreements in place with pharma companies in Europe, Asia and the Middle East, Velit has a portfolio of more than 50 pharma products and a strong pipeline of additional medicines in development, with a number of products available to be commercialized in the UK through Kelso’s existing infrastructure.

Velit’s therapeutic focus includes gastroenterology, dermatology and women’s health, all of which are complementary to Kelso’s existing portfolio of medicines. In addition, Velit’s portfolio has products focusing on oncology and ophthalmology which, alongside Velit’s strong business development and regulatory teams, will further extend Kelso’s in-house capabilities.