Global investment firm Psych Capital has announced the completion of its 100% acquisition of life science company Short Wave Pharma.
Short Wave Pharma is developing breakthrough therapies to address unmet medical needs in mental health, particularly in the field of eating disorders.
Short Wave Pharma’s clinical programme is developing a transformative solution for anorexia nervosa, the most fatal eating disorder, and a complex and often underserved area of healthcare – designing a novel delivery method and drug combination with an expanded mechanism of action specifically designed to address the requirements of this vulnerable population.
William Potts, Chief Investment Officer of Psych Capital Plc, emphasised the importance of this acquisition, stating: “Short Wave Pharma has the potential to positively impact millions of patients all over the world who have very serious unmet needs and we’re thrilled to start a very exciting journey together.”
Under the terms of the Acquisition, CEO of Short Wave Pharma, Rivki Stern Youdkevich, will join Psych Capital as the new CEO.
Stern said: “With the team at Psych Capital, we have found the right partners to rapidly advance our clinical programmes, develop our innovative IP and progress towards finding a better solution for eating disorders and mental health.”
Additionally, Short Wave Pharma board member, Roy Kait, will also joining Psych Capital as Non-Executive Director.
Kait has over 18 years of entrepreneurial, corporate finance and strategy experience working in Israel, Europe and LATAM markets. Kait currently serves as Managing Partner of Mindly Capital, a Canadian investment company investing in Israeli technology companies, prior to which Kait served as head of strategy and M&A at IMC with total fundraising and M&A activity of over $180m. He served as director of Israel operation in MSW Capital a Rio-based investment boutique and previously as senior consultant at Israel KPMG corporate finance.
The Psych Capital board has also announced the immediate resignation of Non-Executive Chairman, Joseph Colliver. Psych Capital has stated it would like to thank Joseph for his significant contribution to the company since joining.
