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Immedica Pharma
Anders Edvell's Immedica Pharma, launched in 2018 with KKR backing, consolidates rare-disease therapies across Europe and the Middle East.
Immedica Pharma
Immedica Pharma was founded in Stockholm in 2018 by CEO Anders Edvell, a former Sobi executive, with a mandate to consolidate and commercialize orphan and specialty-care drugs for underserved patient populations. The firm's launch was anchored by a significant equity commitment from KKR's Health Care Strategic Growth Fund, providing the balance sheet to acquire marketed products and late-stage assets across Europe, the Middle East, and North Africa. Immedica's strategy concentrates on acquiring commercial-stage therapies — primarily in hematology, oncology, and metabolic diseases — where the original developers lack the regional infrastructure or strategic focus to manage them. The firm has completed large portfolio acquisitions, including the 2019 purchase of a group of legacy Sanofi products, and continues to pursue in-licensing deals for complex generics and branded specialty drugs. Its operational footprint spans a direct commercial presence in core EU markets plus a partner network covering the Gulf states and Israel. The firm operates as a portfolio company of KKR rather than an independent fund manager. In January 2022, KKR agreed to sell a majority stake in Immedica to Swedish investor EQT and the Abu Dhabi Investment Authority, with Edvell retaining a substantial interest (per Reuters, January 2022). The transaction valued Immedica at approximately €1.3 billion, underscoring the scale of its assembled rare-disease portfolio since launch (per PE Hub Europe, January 2022). Immedica's structural differentiator is its function as a buy-and-build vehicle purpose-built by a large-cap private equity sponsor to serve as a permanent capital base for orphan drugs. Unlike a traditional PE portfolio company, it was designed from the start to hold assets indefinitely, merging the commercial discipline of a specialty pharma company with the acquisition appetite of a financial sponsor.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
Europe
Country
Sweden
City
Stockholm
Corporate office
Stockholm, Sweden
Principals
Anders Edvell
CEO
Sector focus
Frequently asked questions
Who runs investment and commercial decisions at Immedica Pharma?
Anders Edvell, the firm's founder and CEO, oversees both acquisition strategy and commercial operations. Edvell previously held senior roles at Swedish Orphan Biovitrum (Sobi), another rare-disease specialist. Investment decisions are made in concert with the firm's board, which includes representatives from its private equity backers.
How does Immedica Pharma source its acquisition targets?
Immedica targets marketed orphan and specialty drugs that are non-core to large pharmaceutical companies. The firm's sourcing network relies on direct relationships with Big Pharma corporate development teams, who approach Immedica when divesting legacy or sub-scale rare-disease assets. It does not participate in broad auctions for early-stage biotech platforms.
Is Immedica Pharma structured as a family office or a traditional private equity fund?
Immedica is neither. It is a Stockholm-based operating company that was capitalized by KKR's balance sheet to function as a permanent capital vehicle for acquiring and managing rare-disease drugs. In 2022, ownership transitioned to EQT and ADIA, but the corporate structure and indefinite-hold mandate remained intact.
Does Immedica participate in fund commitments or only direct acquisitions?
Immedica exclusively executes direct acquisitions and in-licensing deals for commercial-stage pharmaceutical products. It does not operate as a fund-of-funds, nor does it invest in venture-stage biotech companies or third-party managed funds.
Which therapeutic areas does Immedica Pharma explicitly focus on?
The firm concentrates on orphan and specialty-care indications within hematology, oncology, and select metabolic diseases. Its portfolio is built from products treating small patient populations where incumbent manufacturers have deprioritized commercial support.
How is Immedica Pharma related to its sponsors, KKR and later EQT and ADIA?
KKR provided the founding equity through its Health Care Strategic Growth Fund in 2018 and owned a majority stake until January 2022, when EQT IX and the Abu Dhabi Investment Authority acquired KKR's interest. Founder Anders Edvell retained a substantial minority stake in the sale. The firm operates independently with its own management and commercial infrastructure.
What is Immedica Pharma's known geographic footprint?
Immedica maintains a direct commercial presence in core European markets, including the Nordics, and serves markets in the Middle East and North Africa through a network of local distribution partners. Its headquarters are in Stockholm, Sweden.
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