Mexico Generic Pharma Manufacturing & Cold Chain Access

Executive Summary

Series B funding to expand a WHO-prequalified generic pharmaceutical manufacturing plant and build a temperature-controlled distribution network serving Mexico and Central America. The expansion targets essential medicines facing chronic supply shortages, including insulin analogues and oncology generics, while nearshoring capacity away from Asian API dependency.

Investment Thesis

• Mexico imports 68% of active pharmaceutical ingredients from Asia — nearshoring policy incentives support onshore capacity buildout.
• Essential-medicines shortage lists identify insulin and oncology generics as chronically under-supplied regionally.
• Cold-chain distribution network extends access to secondary cities previously reliant on unreliable third-party logistics.

Use of Funds

Financial Snapshot

Transaction Structure

USD 58M Series B preferred equity, 1x non-participating liquidation preference, pro-rata rights for participating LPs.

Risk & Mitigation

Timeline & Milestones

1. 2024 Q3
   Series A — plant modernisation
2. 2025 Q4
   Series B opened
3. 2026 Q3
   Target close
4. 2027 Q4
   Cold-chain network fully operational

Sponsor

Farmacéutica del Norte S.A. de C.V.

Farmacéutica del Norte is a 14-year-old Mexican generic pharmaceutical manufacturer with existing COFEPRIS and FDA facility registrations.

ESG & Impact

• Improves insulin access for an estimated 400,000 patients/yr
• WHO prequalification enables regional humanitarian procurement
• Water-recycling API synthesis process reduces effluent 40%

Data Room

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