Austin, TX – Madison Street Capital, an international investment banking firm, has acted as a co-advisor in the sale of Therachem Research Medilab (“TRM”) and Solaris Pharmachem by PI Health Sciences, (“PIHS”), a wholly owned subsidiary of PI Industries (“PI”). Along with Madison Street Capital, That’s Nice LLC was a co-advisor in the $75 million deal. Charles Botchway, CEO of Madison Street Capital, announced that Barry Petersen, Sr. Managing Director,led the Madison Street Capital team.

Therachem Research Medilab is a chemistry-driven global service provider for pharmaceutical and biopharmaceutical companies. Solaris Pharmachem is a leading specialty pharmaceutical company committed to the identifying, developing, and marketing of high-quality, complex, generic and specialty pharmaceutical products.

Barry Petersen, Sr. Managing Director at Madison Street Capital, stated: “We are pleased to have assisted Therachem Research Medilab in achieving a successful result from this M&A process. The combination of PI Health Sciences and TRM is highly synergistic and will be beneficial to the entire Pharma value chain.We wish Dr. Chand continued success moving forward.”

About Madison Street Capital

Madison Street Capital is an international investment banking firm committed to integrity, excellence, leadership and service in delivering corporate financial advisory services, merger and acquisition expertise, financial opinions, and valuation services to publicly and privately held businesses. These services position our clients to succeed in the global marketplace. In undertaking each new project, the client’s goals and objectives become ours, ranging from financial advisory and successful capital raises to M&A transactions to transfers of ownership. Madison Street Capital views emerging markets as the core component driving the global growth of our clients and will continue to focus significant assets on these markets. Our firm has earned the trust of clients around the world through our unwavering dedication to the highest levels of professional standards. For additional information, please visit

About That’s Nice LLC

That’s Nice is a science agency with a research-driven philosophy that supports informed strategies, targeted campaigns and memorable brands. With 20 years of knowledge in life sciences, we drive success through a process of Research, Strategy, and Results.For more information, visit:

About Therachem Research Medilab

TRM is an innovative, chemistry-driven solution provider in medicinal chemistry research and process R&D, specializing in rare diseases. It provides services and products to pharmaceutical and biopharmaceutical companies in preclinical and clinical stages. It has manufacturing facilities in India and R&D facilities in India and US. TRM’s R&D team works closely with marquee publicly listed US biotech companies and big pharma companies based in Asia-Pacific in developing their product pipeline. For more information, please visit

About PI Health Sciences
PI Health Sciences Ltd. is a wholly owned subsidiary of PI Industries Ltd. (“PI”). Incorporated in 1947, PI Industries (BSE: 523642, NSE: PIIND, ISIN ID: INE603J01030) envisions to be at the forefront of science-led opportunities by delivering innovative solutions. PI Industries’ core values of trust, adaptability, speed, and innovation enable them to deliver the highest value to its customers and respect IP of its partners. With a strength of over 3,500 employees, the Company currently operates a strong infrastructure set-up consisting of 3 formulation facilities as well as 15 multi-product plants under its 4 manufacturing locations in India. PI is among the Top 100 listed companies in India with a market capitalization of over €5.0 billion. It is a Zero-debt company with 9-month revenue for year-till-date 31-Dec-22 of ~€550 million and net worth as of 31-Dec-22 of ~€770 million.

PI aims to create a differentiated position in the pharmaceuticals sector by leveraging its core competencies in complex chemistry, process development, operational excellence, technology platforms and global reach through partnerships with prominent innovators.

This acquisition marks a significant milestone in PI’s company growth strategy and is a testament to PI’s commitment to delivering innovative solutions to clients across the world. To learn more, visit

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