QHP Capital has completed a $1.1 billion continuation fund for Azurity Pharmaceuticals, a specialty drug maker based in Woburn, Massachusetts. The transaction provides liquidity to existing limited partners while allowing QHP to maintain control and continue executing Azurity's long-term value creation plan. HarbourVest Partners led the deal with Pantheon Ventures as a significant investor.

Audax Strategic Capital also participated through a structured growth investment, while ASC invested as a syndicate investor. Goldman Sachs served as financial advisor to QHP, with GS and Eaton Partners acting as placement agents. Ropes & Gray provided legal counsel on the transaction.

Azurity's portfolio includes over 50 medicines across 10 dosage forms and 10 therapeutic areas. Jeff Edwards, a partner at QHP, stated the fund reflects strong conviction in Azurity's strategy and leadership. The continuation vehicle enables QHP to partner with new investors including HarbourVest, Pantheon, and Audax Strategic Capital while supporting Azurity's next growth phase.