Zilla Capital Advises ATCO Pharma on Strategic Investment by RMBV’s RNAF III Fund

Wednesday 21 October 2026 07:43

Zilla Capital has announced the signing of definitive agreements for a strategic investment by RNAF III, a fund managed by RMBV, in Egyptian pharmaceutical company ATCO Pharma.

Zilla Capital served as the exclusive financial advisor to ATCO Pharma. Completion of the transaction remains subject to customary conditions precedent, including approval from the Egyptian Competition Authority.

RMBV to Take Joint Control of ATCO Pharma

Upon completion, RMBV will provide growth capital and enter into a joint-control arrangement with ATCO Pharma through a combination of primary and secondary shares.

The transaction will provide ATCO Pharma with new capital to support its growth, while the company’s founder, Dr. Ahmed Aboul Naga, will continue to serve as Chief Executive Officer.

The deal brings together ATCO Pharma’s founder-led pharmaceutical platform and RMBV’s investment capabilities at a significant stage in the development of Egypt’s pharmaceutical sector.

ATCO Pharma Targets Regional Expansion

Following the investment, ATCO Pharma plans to accelerate its growth across three key areas.

These include expanding its product portfolio in human and veterinary pharmaceuticals, speeding up the launch of new products, and expanding its brands into new markets across the region.

The transaction also represents RMBV’s first investment in Egypt’s veterinary pharmaceutical sector, strengthening its presence in the country’s healthcare market.

Management Highlights Growth Opportunities

Mustafa El-Shennawy, Founder and Co-CEO of Zilla Capital, said founder-led companies represent a key pillar of Egypt’s pharmaceutical industry, describing ATCO Pharma as one of the sector’s strong companies.

He said the transaction reflects a strategic alignment between ATCO’s founder, who built the company from the ground up, and an investor that shares its confidence in the company’s growth prospects.

Dr. Ahmed Aboul Naga, CEO of ATCO Pharma, said the company is entering a new phase following 40 years of operations in Egypt, with the ambition of becoming a leading regional and global player in human and animal health.

He added that ATCO will work with RMBV to pursue new opportunities, accelerate strategic investments, promote innovation, and expand into international markets.

RMBV Backs ATCO’s Manufacturing Capabilities

Ahmed Badr El-Din, Managing Partner at RMBV, said ATCO combines the vision of its founders and a strong management team with established manufacturing and commercial capabilities.

He described animal health as a key component of the region’s protein supply and said RMBV aims to support ATCO’s founders and management team in building a leading regional platform in veterinary pharmaceuticals and specialized human medicines.

Zilla Capital Leads Financial Advisory Team

The Zilla Capital team advising ATCO’s founders was led by Mustafa El-Shennawy and Khaled Gamal, Founders and Co-CEOs, alongside Omar Zakaria, Executive Director of Investment Banking; Mariam Sherif, Director of Investment Banking; Ahmed Maharem, Associate Director of Investment Banking; and Nour Amal, Analyst.

Adsero Office acted as legal advisor to ATCO’s founders, while Matouk Bassiouny & Hennawy served as legal advisor to RMBV.