BALA CYNWYD, Pa.– Susquehanna Private Capital (“SPC”), a middle market private equity firm, today announced an investment in Spherix Global Insights (“Spherix” or the “Company”), a leading pharmaceutical market insights firm focused on the dermatology, gastroenterology, nephrology, neurology, ophthalmology, and rheumatology specialties. Terms of the transaction were not disclosed.
Founded in 2015 by Jennifer and Kevin Robinson, Spherix provides pharmaceutical market insights and intelligence through its proprietary network of over 3,000 active specialty providers and their patients. Spherix boasts a broad client base of pharmaceutical companies ranging from large cap biopharma to small cap biotech and provides them with products that track the full therapeutic lifecycle, from Phase II clinical trials through to patent expiry for in-market therapeutics. Hyper focused on providing clients with relevant, actionable market insights, Spherix delivers a comprehensive suite of offerings across specialties and indications. The Company is headquartered in Exton, Pennsylvania.
“We are pleased to be partnering with Jennifer and Kevin, an experienced duo of proven leaders who have built an exceptional reputation for Spherix across its network of providers and clients alike,” said Kyle Squillario, Managing Director at SPC. “We look forward to working together to continue strengthening the Company’s presence in its core lines of business, while accelerating new growth strategies.”
Jennifer and Kevin Robinson, commented, “This is an exceptional day for Spherix and we are thrilled to embark on our next phase of growth in partnership with SPC. By leveraging SPC’s guidance and financial resources, we will seek to continue scaling Spherix by expanding the reach of our network – with deeper insights into more specialty pharma markets, as well as geographies.”
Ken Parsons, Investor at SPC added, “Spherix has established an unparalleled proprietary market intelligence network that remained a trusted source of information through the COVID-19 pandemic. We look forward to partnering with Jennifer and Kevin, and the broader team, to continue building out and unlocking opportunities for its platform to expand across new and emerging specialty areas of pharma.”
This past November, Spherix was recognized by the Philadelphia Business Journal and the Philadelphia100® Forum as one of Greater Philadelphia’s fastest growing companies for the third consecutive year, ranking number 13 and number 28, respectively.
360 Ventures, LLC acted as exclusive financial advisor and WilmerHale and Walder Wyss served as legal advisors to Spherix. Troutman Pepper served as legal advisor to SPC. Monroe Capital provided debt financing to support the transaction.
