ALL Venture Partners Invests in Farmacias Personalizadas
Mexico City, March 11th 2014.- After the launch of its second fund Venture Innovation Fund II, ALLVP announces its investment in Farmacias Personalizadas’ Series A round. As ALLVP’s sixth investment in healthcare, the fund participates in the company by injecting up to $50,000,000.00 pesos (equivalent to US$3,333,000.00) in order to consolidate the company’s leadership in the market and keep fostering its growth.
Farmacias Personalizadas is the first “specialty pharmacy” distribution company in Mexico that offers an innovative and integral solution to patients with chronic degenerative diseases. Founded in mid-2010 in Monterrey, Farmacias has had an impressive YoY sales growth of three digits ever since it started operations. Up to date, the company had been privately funded by a prestigious healthcare investor group. “The model depends on executing the correct commercial strategy. Having ALLVP on board will help the company manage its growth, plan its financial strategies and institutionalize itself” mentioned Fermín López, CEO of Farmacias Personalizadas.
For the last decade, the biotechnology industry has been booming due to a shift in focus towards treatments for predominant diseases and with better outcomes both clinically and economically. The specialty drugs market grew 7x times more than the traditional drugs during the same period. This industry growth is being accompanied by specialized services provider specifically designed for the new dynamics. Similar Specialized Pharmacies in the USA have gone public over the last few years and could be potential partners to our Mexican current investment.
In Mexico, the estimated size value of pharmaceuticals amounts to US$14bn, of which biological drugs represents about 14%, with an expected growth rate of 7% annually. In the specialty drug market, the distributor plays a key role as it offsets its high costs and logistic complexities versus hospitals and other points of sale. “With presence in eight cities, service across the country and alliances with more than 10 insurance companies, Farmacias Personalizadas has ample room to grow. With an outstanding management team, the company will keep its extraordinary growth path” said Fernando Lelo de Larrea, Managing Partner at ALL Venture Partners.
About ALL Venture Partners
ALLVP - Antoni & Lelo de Larrea Venture Partners - founded by Federico Antoni and Fernando Lelo de Larrea in 2012, is the most active fund in the early stage venture capital industry in Mexico. With fourteen highly innovative companies in its two portfolios, the fund has also invested in other successful companies such as Carrot, the most growing car-sharing company in the world, Prestadero, the first peer-to-peer lending platform in Mexico, and Medica Santa Carmen, a state-of-the-art network of hemodialysis clinics. The firm is a member of the Latin-American Venture Capital Association (LAVCA), the Mexican Private Equity Association (AMEXCAP) and Endeavor Investor Network.