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Advising Carlyle on the AmbioPharm merger and CordenPharma acquisition

Advising Carlyle on the AmbioPharm merger and CordenPharma acquisition

Aug 12, 2026

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We advised Carlyle on the merger of Ambio Pharmaceuticals and Ambio MergerSub in connection with the acquisition of AmbioPharm by Astorg-owned CordenPharma, supporting a transaction that strengthens global peptide manufacturing and development capabilities.

Our multidisciplinary team advised on all Cayman Islands law aspects of the transaction. The team was led by Investment Funds & Corporate partners Mark Cummings and Kevin Ho, together with Insolvency, Restructuring & Dispute Resolution partner Tom Pugh, with support from Tim Molton, Beverly Lui and Flora Lo.

We worked closely with Kirkland & Ellis to advise Carlyle and Carlyle-sponsored Ambio Pharmaceuticals throughout this matter.

Empowering growth across the life sciences and pharmaceutical manufacturing sectors

The acquisition brings together complementary capabilities to strengthen the combined business's global peptide platform and positions it to scale its operations, accelerate innovation and serve customers across growing markets for peptide-based medicines.

Commenting on the transaction, Mark said: 'We are pleased to have supported Carlyle on the successful completion of this transaction. This outcome reflects Carlyle's strategic vision and commitment to investing in businesses with strong growth potential, and we were delighted to assist the team in closing the transaction.'

Carlyle-sponsored AmbioPharm is a US-headquartered peptide API contract development and manufacturing organisation (CDMO) with operations in North Augusta, North Carolina and Shanghai. Swiss-based CordenPharma is a leading global CDMO.

Helping clients navigate complex cross-border matters

This transaction demonstrates the complexity of today's cross-border life sciences deals. Tom added:' This transaction highlights the strength of our multidisciplinary offering and our ability to deliver seamless advice across complex cross-practice matters. Bringing together corporate and dispute resolution expertise enabled us to support Carlyle at every stage of the transaction.'

With expertise spanning corporate, investment funds, finance, regulatory, restructuring, insolvency and dispute resolution, we regularly advise clients on strategic transactions and investments across the life sciences, biotechnology, pharmaceutical and healthcare sectors.

Asset Management & Investment FundsHong Kong

MEDIA CONTACT

Shana Ray

Director of Marketing, Business Development and Communications - Asia and Middle East

T/+852 2596 3302
M/+852 9030 6084
E/Email Shana Ray

KEY CONTACTS

Get in touch with our team

Mark Cummings
Mark Cummings

Mark Cummings

Partner

Hong Kong

T

+852 2596 3316

M

+852 9189 6305

E

Email Mark Cummings
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Kevin Ho
Kevin Ho

Kevin Ho

Partner

Hong Kong

T

+852 2596 3455

M

+852 6010 7219

E

Email Kevin Ho
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Tom Pugh
Tom Pugh

Tom Pugh

Partner

Hong Kong

T

+852 2596 3466

M

+852 6209 2634

E

Email Tom Pugh
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Tim Molton
Tim Molton

Tim Molton

Counsel

Hong Kong

T

+852 2596 3441

M

+852 6011 0317

E

Email Tim Molton
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Beverly Lui
Beverly Lui

Beverly Lui

Senior Associate

Hong Kong

T

+852 2596 3430

M

+852 6010 3031

E

Email Beverly Lui
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Flora Lo
Flora Lo

Flora Lo

Senior Associate

Hong Kong

T

+852 2596 3469

M

+852 9225 7817

E

Email Flora Lo
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