Consilient Health, a Dublin-headquartered generic drug distribution and marketing firm, has raised an additional €1.35 million from businessman Shane Rehill, making him the majority shareholder in the company.

The firm raised a total of €1.5 million in its latest funding round, with senior management including finance director JJ Culhane also contributing. Mr Rehill is the former chief executive of Tedcastle Holdings. He is also the founder of Trinity Venture Capital and the now defunct Hibernia Capital Partners.

Primarily marketing and distributing generic drugs in the UK and the Netherlands, Consilient was founded in 2001 by former Schering-Plough executive Douglas Andrews. He was Consilient's chief executive until September last year.

The company has now raised almost €9 million. It received funds of slightly more than €6 million in 2005 in an equity financing that was largely backed by Mr Rehill's BHR group. The firm had previously raised in the region of €1 million. Consilient's chairman, Luke Crosbie, said that the latest cash injection would be used for working capital purposes.

Accounts for Consilient for the 18-month period to the end of June last year show that the company posted a loss of approximately €4.7 million, bringing its accumulated losses to almost €6.5 million. It had equity shareholders' funds of €2.1 million at the end of the period. Mr Crosbie said that the performance in the 12 months to this June had been "satisfactory".

Consilient has recently received approval to sell a number of new treatments. Among them are its alendronic acid drug, used to treat postmenopausal osteoporosis, and carvedilol, used for the treatment of mild to moderate congestive heart failure. Mr Crosbie added that the company has a number of drug products in the pipeline.

The company also intends to target sales in France, Germany and Scandinavia.