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Apricus exit returns 2.5x

We invested in lifesciences business BioQuant, Apricus’ forerunner, in 2007, and again in 2008.

The company achieved a NASDAQ listing in 2009 and we sold our holding on the market over 2012 and 2013. We disposed of our shares in a spun-out subsidiary, Innovus Pharmaceuticals, on the US OTC market in Q1 this year, which completed our exit. Overall, the sales recouped 2.5x cash invested, representing a c.25% IRR over the holding period.