Signet Healthcare Partners Closes $137.2 Million Life Science Fund

NEW YORK, Jan. 11, 2017 (GLOBE NEWSWIRE) -- Signet Healthcare Partners (“Signet”), a private equity fund that provides growth capital to commercial Life Sciences companies, is pleased to announce the closing of Signet Healthcare Partners IV L.P. with $137.2 million of capital commitments.  The firm intends to invest in 10-12 companies and will typically invest $10-15 million per company (with co-investment from its limited partners).  "We are very grateful for the continued support of our loyal investor base during this fundraising, and welcome our new investors," said James Gale, Founding Partner and Managing Director of Signet.

Two new general partners have joined the firm in connection with this fund.  Nikhil Puri has joined Signet from Pfizer, where he was Vice President and Head of Business Development for the Global Established Pharmaceuticals business.  Prior to that, Mr. Puri had spent 15 years as an investment banker, most notably at Bear Stearns and Lehman Brothers.  Ashley Friedman has also become a general partner.  He previously had been a venture partner since 2014 when he joined Signet from Investor Growth Capital (the private equity and venture arm of Investor AB).  While at Investor, Mr. Friedman participated in and led a number of life science private equity financings.  He started his career at Lehman Brothers.

"The commercial Life Sciences segment continues to offer significant growth avenues for companies with differentiated product offerings, and we believe that strategic growth capital will play an integral role in harnessing these opportunities," said Nikhil Puri.

"We are excited and committed to build on Signet’s successful and focused approach to growth-stage healthcare investing and partnering with exceptional management teams to drive value and healthcare innovation," said Ashley Friedman.

About Signet Healthcare Partners

Signet is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm’s focus has primarily been on the pharmaceutical sector and medical technology companies. Signet maintains a disciplined yet flexible investment approach.  As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet’s 18-year history, it has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over $400 million and has invested in more than 45 companies.

leon Appoints Pharma Expert Michael Mehler as Chief Executive Officer

leon nanodrugs GmbH appoints pharma expert Michael Mehler, Sc.D. as new CEO of the Munich based company and its U.S. subsidiary leon-nanodrugs Inc, effective today.  He succeeds Dr. Theron (Ted) Odlaug who will continue to serve the company in the Supervisory Board, as was agreed at the beginning of 2016.

Dr. Michael Mehler brings to leon-nanodrugs over 25 years of experience holding significant leadership roles in the international pharma and biotechnology industries. In his previous tenure he was the CEO of SpePharm AG, Lucerne, a pan-European specialty pharma company focused on high-value specialty hospital products. Prior to that he led Riemser Arzneimittel AG, today Riemser Pharma GmbH, Greifswald, as CEO from 2009 to 2014and guided the company through the sale to AXA Private Equity, today Ardian, in 2012. From 2003 to 2009 he served Actelion Pharmaceuticals, (Allschwil) in several senior executive roles, Michael started his long-time international career at Merck/MSD and Novartis. Michael graduated in Chemical Engineering from the Technical University in Darmstadt and holds a Doctor’s degree (Dr. rer. nat; Sc.D.) in Biochemistry from the University of Mainz.

Dr. Hubert Birner, Chairman of the leon Board and Managing Partner at TVM Capital Life Science commented “We welcome Michael to lead leon nanodrugs on our joint journey to continued growth and internationalization. We know Michael as a very experienced executive and look forward to working with him. We would also like to express our sincere appreciation to Ted who did a tremendously impressing job – he will obviously bring his valuable expertise to the Board in his new role and continue to complement our management team.”

Michael Mehler added:  “I am delighted to join the leon team and I am grateful for the faith of the Board and shareholders in me. I am convinced that our proprietary nano technology has an enormous potential to not only successfully reformulate established and new active molecules but by doing so to bring relevant advantages to patients, enabling us to take leadership in this re-formulation market.”

About leon-nanodrugs

leon-nanodrugs GmbH, headquartered in Munich, is a nanotechnology-based drug development company focused on reformulations and reinventions of drugs on a contract or co-development basis. The core business is the reformulationsto develop novel oral and parenteral formulations and innovative drug combinations, which have not been possible in the past due to low bioavailability caused by low solubility of APIs. The 2014 CPhI Pharma Awards for Best Innovation in Formulation was won by MJR PharmJet GmbH, leon nanodrugs’ reformulation service partner for its patented nanotechnology. The company also has partnership with CoreRX in Clearwater, Florida. For more information, please visit www.leon-nanodrugs.com.

Contact

Dr. Michael Mehler

CEO

m.mehler@leon-nanodrugs.com

0049 89 41 42 488 995

 

Baxter to Expand Portfolio of Essential Generic Injectable Medicines with Acquisition of Claris Injectables Limited

DEERFIELD, Ill., December 15, 2016 – Baxter International Inc. (NYSE: BAX), a global leader in sterile medication production and delivery, today entered into a definitive agreement to acquire Claris Injectables Limited, a wholly owned subsidiary of Claris Lifesciences Limited, for total consideration of approximately $625 million. Claris Injectables will add proven capabilities in production of essential generic injectable medicines, such as anesthesia and analgesics, renal, anti-infectives and critical care in a variety of presentations including bags, vials and ampoules. The Boards of Directors of both companies have approved the proposed acquisition, which is expected to close in the second half of 2017. Upon closing, the deal is expected to be modestly accretive to adjusted earnings and increasingly accretive thereafter.

Sterile medication production is a core competency for Baxter, which manufactures a broad range of essential generic injectable medications—including both frozen and liquid preparations—that treat some of the most pressing healthcare needs facing patients today. Baxter currently participates in a differentiated segment of the generic injectables market with difficult-to-manufacture oncology drugs and a broad portfolio of standard-dose, ready-to-use premixed injectable products including essential anti-infectives, analgesics and critical care medicines. Baxter estimates that today the global sterile generic injectables market is more than $40 billion growing at a 10 percent compound annual growth rate.

Claris Injectables, based in Ahmedabad, India, is a global generic injectables pharmaceutical company with a successful 15-year history. The acquisition of Claris Injectables will provide Baxter with a robust pipeline and marketed portfolio of generic injectables with 11 molecules currently approved in the U.S. along with fully integrated research and development expertise and three world-class manufacturing facilities registered with a number of global regulatory agencies, including the U.S. Food & Drug Administration (FDA). Claris Injectables will be a foundational asset to accelerate Baxter’s strategy to become a global leader in the injectable pharmaceuticals space. Baxter will build upon Claris Injectables’ existing footprint by adding Baxter’s differentiated technologies and making strategic investments to expand Claris Injectables’ R&D pipeline and manufacturing capacity. Through this combination, Baxter anticipates launching seven to nine new products annually over the next few years, increasing to 10-15 anticipated new product launches a year beyond 2019.

“The Claris Injectables acquisition will expand Baxter’s presence in the fast growing, global generic injectable pharmaceuticals space and accelerate our growth trajectory with high-value, essential medicines that will benefit patients worldwide,” said Jose (Joe) Almeida, Chairman and Chief Executive Officer, Baxter. “The capabilities we gain with Claris Injectables will augment and complement our differentiated technologies, expertise and extensive presence in the hospital channel to create a pathway for Baxter to become a global leader in generic injectables.”

In 2016, Claris Injectables is expected to deliver annual global revenues in excess of $100 million. Global revenues for Claris Injectables business have increased by double-digits annually over the last several years driven by new product launches and geographic expansion. Baxter expects to finance the transaction through cash on hand, debt or a combination.

“We are pleased to announce this agreement with Baxter,” said Arjun Handa, Executive Vice Chairman and Group MD of Claris Lifesciences Ltd. “Baxter’s deep and long history, roots in the hospital business, and expertise to advance the business as a strategic platform will catapult the combined organization’s R&D, manufacturing and people capabilities. I strongly believe that this weaves forward a promising pathway for our patients, team members, partners and stakeholders.”

“We look forward to welcoming the Claris Injectables employees who share Baxter’s commitment to innovation, dedication to quality and mission to save and sustain lives,” added Almeida.

The transaction is subject to regulatory approvals and other customary closing conditions.

A supplemental presentation can be accessed via Baxter’s corporate website at www.baxter.com on the Events & Presentations page.

About Claris Injectables

Claris Injectables manufactures and/or markets a broad portfolio of essential medicines across multiple delivery systems and segments, including anesthesia and analgesics; blood products; anti-infectives; critical care and nephrology. Its manufacturing facilities are registered with global regulatory agencies including the FDA and authorities in the UK, Australia, Brazil and Middle East. Claris Injectables products are sold in more than 75 markets around the world, with direct sales in the United States and India.

About Baxter

Baxter International Inc. provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.

This release includes forward-looking statements concerning a definitive agreement entered into by the company to acquire Claris Injectables, including expectations regarding the financial impact of such acquisition on the company (including with respect to adjusted earnings, which excludes intangible asset amortization expense, inventory step-up and transaction, integration and restructuring costs). The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: the ability of the company and Claris Injectables to obtain required regulatory approvals and satisfy closing conditions; the company’s ability to close the transaction, successfully integrate the business and realize the benefits of the acquisition, including with respect to cost synergies; continued strength in the company’s financial position, including cash flows; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; and other risks identified in Baxter’s most recent filing on Form 10-K and other SEC filings, all of which are available on its website. Baxter does not undertake to update its forward-looking statements.

Medicure Exercises Option to Acquire Majority Interest in Apicore

WINNIPEG, Nov. 18, 2016 /CNW/ - Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH, OTC:MCUJF), a leading Canadian specialty pharmaceutical company, is pleased to announce that it and a newly formed and wholly owned Mauritius subsidiary have provided notice to certain investors in Apicore Inc. and Apigen Investments Limited (together "Apicore") under Medicure's option rights allowing for the acquisition of 4,717,000 Series A Preferred Shares and 1,250,000 Warrants in both entities for US$33,250,000, which would bring Medicure's ownership in Apicore to 64% (or approximately 60% on a fully diluted basis).  Medicure expects to close the acquisition of the majority position in Apicore by the end of November 2016, subject to regulatory approval.

Medicure's initial ownership interest and option rights were obtained for its lead role in structuring and participating in a majority interest purchase and financing of Apicore that occurred on July 3, 2014.  Medicure continues to have option rights until July 3, 2017 to acquire additional shares in Apicore.

Apicore is a private, New Jersey based developer and manufacturer of specialty Active Pharmaceutical Ingredients ("APIs") and pharmaceuticals, including over 15 Abbreviated New Drug Applications ("ANDAs"), one of which, is partnered with Medicure.  Apicore manufactures over 100 different API's, including over 35 for which Drug Master Files have been submitted to the FDA and 12 that are approved for commercial sale in the U.S. by customers of Apicore.  Apicore specializes in the manufacture of difficult to synthesize, high value and other niche API's for many U.S. and international generic and branded pharmaceutical companies.

"Medicure is pleased to be acquiring a majority equity position in Apicore and looks forward to working to further increase Apicore's value for all stakeholders, in particular Medicure's shareholders." stated Dr. Albert Friesen, President and Chief Executive Officer of Medicure.  Medicure has a long term objective of identifying and advancing new products that are complimentary to the Company's U.S. specialty pharmaceutical business, securing supply for potential new development products, and diversifying Medicure's asset base within the pharmaceutical industry.  Medicure's business focus continues to be maintaining and expanding the sales of AGGRASTAT® (tirofiban HCl) in the United States.  

The source of funds for the option exercise is a term loan agreement with Crown Capital Fund IV, LP, an investment fund managed by Crown Capital Partners Inc. ("Crown") (TSX:CRN), in which Crown holds a 40% interest, for CDN$60,000,000, of which CDN$30,000,000 was syndicated to the Ontario Pension Board ("OPB"), a limited partner in Crown's funds.  The funds will be used to pay the option exercise price of US$33,250,000 as well as to refinance Apicore's existing long-term debt. Under the terms of the loan agreement with Crown, the loan bears interest at a fixed rate of 9.5% per annum, compounded and payable monthly on an interest only basis, matures in 48 months, and is repayable in full upon maturity. Medicure has also granted 450,000 warrants to each of Crown and OPB. Each warrant entitles the holder to purchase one Medicure common share at an exercise price of $6.50 for a period of four years, subject to regulatory approval.  PI Financial Corp. acted as an advisor to Medicure on the loan from Crown.

About Apicore

Apicore is a leading process R&D and API manufacturing service provider for the worldwide pharmaceutical industry. Apicore offers a wide portfolio of services ranging from manufacture of API's for the generic industry to custom synthesis for early phase pharmaceutical research, and branded products. Apicore has 2 FDA-approved facilities. In the U.S., the Somerset, New Jersey facility can produce a few grams up to 200 kg volumes and in India, the Vadodara, Gujarat facility can produce a few kilograms up to 60 metric tons yearly. Both facilities are equipped with state-of-the-art analytical and research capabilities. For more information, please visit Apicore online at www.apicore.com.

About Medicure

Medicure is a specialty pharmaceutical company focused on the development and commercialization of therapeutics for the U.S. hospital market. The primary focus of the Company and its subsidiaries is the marketing and distribution of AGGRASTAT (tirofiban HCl) for non-ST elevation acute coronary syndrome in the United States, where it is sold through the Company's U.S. subsidiary, Medicure Pharma, Inc.  For more information on Medicure please visit www.medicure.com.

About Crown Capital

Crown Capital is a specialty finance company focused on providing capital to middle-market companies. Crown Capital provides structured and tailored financing solutions with minimal or no ownership dilution. These solutions allow client business owners to retain the vast majority of the economic rewards associated with their business, while providing Crown Capital with stable and predictable cash flows.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, including the potential for Apicore's revenue and value to increase, the closing of the Apicore acquisition and Medicure to secure and advance new products are based on the current assumptions, estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's future product revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; results of current and future clinical trials; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities or the US Securities and Exchange Commission, and in the "Risk Factors" section of its Form 20F for the year ended December 31, 2015.

AGGRASTAT® (tirofiban HCl) is a registered trademark of Medicure International, Inc

SOURCE Medicure Inc.

For further information: James Kinley, Chief Financial Officer, Tel. 888-435-2220, Fax 204-488-9823, E-mail: info@medicure.com, www.medicure.com

Pharmaceutics International, Inc. (Pii) Receives $93 Million in Growth Capital

HUNT VALLEY, MARYLAND (September 6, 2016) – Pharmaceutics International, Inc. (“Pii”), a contract development and manufacturing organization (“CDMO”) based in Hunt Valley, MD, announced today that it has entered into a definitive agreement with a consortium of investors led by Signet Healthcare Partners and including Athyrium Capital Management, Hildred Capital Partners and Pharmascience Inc. Pursuant to the agreement, the consortium has invested $93 million in exchange for an equity stake in the company and debt refinancing. Uses of the growth capital will include making significant capital expenditures in the company’s formulation capabilities and commercial manufacturing operations. The company also intends to develop its pipeline of generic products, some in conjunction with marketing partners. Founder Dr. Syed Abidi will remain Chairman and CEO of Pii, and veteran pharmaceutical executive Michael Bogda, most recently President of Lannett Company, Inc., will join the company as President and COO.

“This investment and partnering with experienced life sciences investors will allow us to better serve our clients and marketing partners and to build a bigger pipeline of products.” said Dr. Abidi. “And we are excited to be adding an executive of Michael Bogda’s caliber as a senior executive of the company. He has a tremendous track record in the industry, and I look forward to working with him as the company embarks on its next growth phase.”

Pii has been offering development and manufacturing services to pharmaceutical clients, for both NDA and aNDA products, for more than 20 years. The company has formulation capabilities across virtually all dosage forms and is a sought-after partner for the most complex formulations. The company develops and manufactures drug products for its clients on a fee-for-service basis, and for its marketing partners on a profit-share or royalty basis.

“We are pleased to be partnering with Dr. Abidi and Pii, and we see its renowned development services business as a platform for tremendous growth in commercial manufacturing as both its fee-for-service and profit-share pipelines mature,” said James Gale, Founding Partner of Signet Healthcare Partners, who will join the Pii Board. “Hildred is well positioned to help the company become a premiere U.S.-based pharmaceutical manufacturer,” said Hildred partner and new Pii board member, David Solomon. “Pii has a number of new products to be launched over the next several years, which have already been filed or are soon to be filed with the FDA, and which we expect will significantly contribute to the Company’s growth. Pii fits well with our operational experience, and we look forward to working with founder Syed Abidi, new President Michael Bogda, and our partners Signet, Athyrium and Pharmascience, to achieve significant growth over the coming years.”

Teneo Capital acted as exclusive financial advisor to Pii. Hogan Lovells and Jacobs & Dembert acted as legal counsel for Pii, Lowenstein Sandler LLP acted as legal counsel for Hildred, and Sheppard Mullin and Covington & Burling acted as legal counsel for the remainder of the consortium.

About Pharmaceutics International, Inc.
Pii is a privately held contract development and manufacturing organization providing dosage form development and manufacturing services to the global pharmaceutical industry. Headquartered in Hunt Valley, Maryland with European facilities in the UK, services include preformulation testing, formulation development, clinical and commercial CGMP manufacturing of solid, parenteral, inhalation, semi-solid and liquid dosage forms, clinical packaging and labeling, and analytical services. Pii’s facilities include manufacturing and containment suites, automated packaging lines and a wide selection of equipment. For more information, please visit www.pharm-int.com.

About Signet Healthcare Partners
Signet Healthcare Partners (“Signet”) is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. Signet focuses primarily on the pharmaceutical and medical technology sectors. Signet is an active investor and partners closely with management teams to support growth and build successful businesses. During Signet’s 18-year history, Signet has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over $400 million and has invested in more than 45 companies.

About Athyrium Capital Management
Athyrium Capital Management, LP (“Athyrium”) is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $1.7 billion in committed capital. The Athyrium team has substantial investment experience in the healthcare sector across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, and healthcare focused services. The team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.

About Hildred Capital Partners
Hildred Capital Partners, LLC (“Hildred”) is a family investment firm that invests in a broad range of securities, including equity and debt, across geographies and sectors, on both an active and passively managed basis. Founded in 2014, Hildred has a particular interest in private equity, including situations where the principals can apply their extensive management experience to help a company reach its full potential. Hildred is headed by Howard Solomon, former CEO of Forest Laboratories, and David Solomon, the former Senior Vice President, Corporate Development & Strategic Planning at Forest Laboratories.

About Pharmascience Inc.
Founded in 1983, Pharmascience Inc. is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 60 countries. Ranked 47th among Canada’s top 100 R&D investors with $56 million invested annually, Pharmascience Inc. is the 10th largest pharmaceutical company in Canada. Pharmascience Inc. is a leading manufacturer and marketer of prescription, generic, over-the-counter, and behind-the-counter products as well as FDA approved Canadian-made injectables. In Canada alone, more than 45 million prescriptions a year are filled with Pharmascience products.

Contacts:

Julien Hecht, Vice President & General Counsel
Phone: (410) 584-0001
Email: jhecht@pharm-int.com

Steve King, Senior Vice President, Business Development
Phone: (410) 584-0001
Email: sjking@pharm-int.com

Inovio Pharmaceuticals Acquires Needle-Free Injection Technology to Advance Strategy for Next-Generation Vaccines

Non-invasive integrated injection and electroporation device to enhance mass immunization against flu, RSV, and pandemic/tropical infectious diseases using transformative immune-activating technology


PLYMOUTH MEETING, Pa. - March 14, 2016 – Inovio Pharmaceuticals, Inc. (NASDAQ: INO) announced today it has signed a definitive agreement to acquire all of Bioject Medical Technologies Inc.’s assets including pioneering needle-free jet injection technology, devices, and intellectual property. Inovio will pay Bioject $5.5 million in cash and stock.

Inovio will advance an integrated non-invasive delivery device combining Bioject’s jet injection technology with Inovio’s new needle-free, skin-surface electroporation (EP) technology. The company’s goal is to facilitate preventive immunization using its DNA vaccines against critical infectious diseases with unmet needs in large populations. Bioject’s needle-free devices, which use high pressure gas or springs to propel liquid medicine into skin, have demonstrated desirable utility, safety, and tolerability attributes in animals and humans. Under a prior research agreement, Inovio assessed this technology with its new EP delivery system and generated compelling antigen expression and immune responses in animals. 

Injecting DNA immunotherapies into tissue alone, irrespective of the injection method, has not generated potent immune responses in clinical studies - DNA immunotherapies must enter cells of the tissue to enable their immune-activating capabilities, which is limited using syringe or jet injection alone. One of two pillars in Inovio’s success in achieving clinically relevant efficacy with induced immune responses is its proprietary EP technology enabling delivered DNA to be transported into the cells. Inovio’s compelling data have to date been achieved using intramuscular needle-based injection and EP, which is well-suited for treating cancers and infectious diseases. Achieving preventive immunization using DNA vaccines against challenging infectious diseases in large populations will also require EP delivery. It would also benefit significantly from a combined jet injection/electroporation device capable of reducing administration inconsistency, pain, and disposables cost associated with needle-based injection in mass immunizations.

Dr. J. Joseph Kim, Inovio’s CEO, said, “Our current DNA delivery method is highly effective and already gets the job done. However, to fully realize the opportunity of mass immunization against challenging infectious diseases we believed we could create an additional advantage: that is non-invasive vaccine administration. Similar to our past acquisitions of Advisys and Inovio AS, this purchase of Bioject’s superior jet injection technology and well-positioned patents is an investment in Inovio’s future. Jet injection alone cannot achieve the utility of DNA vaccines. However, combined with our new needle-free skin-surface electroporation delivery technology we believe we can offer a compelling solution to protect against RSV, ever-changing influenza strains, and emerging infectious diseases like Zika.”

Inovio’s leadership in advancing DNA immunotherapies delivered using needle-based injection and electroporation led to the first reported generation of robust antigen-specific immune responses correlated to efficacy in a controlled clinical study. Its phase II data was published in September 2015 in The Lancet. This product, VGX-3100, for high-grade HPV-related cervical dysplasia, will advance into phase III in 2016. This approach is being used in multiple current and imminent clinical studies in cancer and therapeutic applications for chronic infectious diseases such as hepatitis B and HIV.

With respect to needle-less vaccine administration, Inovio has an extensive vaccine pipeline to leverage this technique. It has ongoing clinical programs for flu, HIV, Ebola, and MERS; proof-of-principle human data has shown significant immune responses generated by its universal influenza and HIV DNA vaccines; and preclinical-stage DNA vaccines target important diseases such as Zika, dengue, Chikungunya and RSV. 

Supporting the goal of non-invasive administration, the U.S. Army Small Business Innovation Research program recently granted Inovio $500,000 to further support the development of a needle-free, non-invasive skin-surface electroporation device for DNA vaccine delivery.

Inovio will pay Bioject $4.5 million in Inovio stock (price set by 20 day weighted average share price immediately prior to closing) and $1.0 million in cash. The closing of this transaction is subject to approval by Bioject’s shareholders and is expected approximately 30 days from this announcement.

About Inovio Pharmaceuticals, Inc. 
Inovio is taking immunotherapy to the next level in the fight against cancer and infectious diseases. We are the only immunotherapy company that has reported generating T cells in vivo in high quantity that are fully functional and whose killing capacity correlates with relevant clinical outcomes with a favorable safety profile. The company is advancing a growing clinical and preclinical stage product pipeline. Partners and collaborators include MedImmune, Roche, University of Pennsylvania, DARPA, GeneOne Life Science, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and University of Manitoba. For more information, visit www.inovio.com.

CONTACTS: 
Investors: Bernie Hertel, Inovio Pharmaceuticals, 858-410-3101, bhertel@inovio.com
Media: Jeff Richardson, Inovio Pharmaceuticals, 267-440-4211, jrichardson@inovio.com

Bionpharma buys 25 products from specialty drug maker Banner Life Sciences

MUMBAI: Bionpharma, a New Jersey-based pharmaceutical startup founded last year by five former Ranbaxy executives and backed by strategic and financial investors, has acquired a portfolio of approximately 25 products from specialty drug maker Banner Life Sciences.

The combined revenue of the acquired products is estimated at more than $70 million and forms a mix of high-potency steroidal, antiviral, neurology, over-the-counter pain management and anti-allergy medicines. Banner sold the products to focus on developing specialised drugs, experts said. Of the products acquired by Bionpharma, 18 are marketed as generic drugs, four are specialised products filed as NDAs (new drug applications) with the US Food and Drug Administration, two are in the process of regulatory reviews and two are undergoing development.

Some of the drugs that will be part of Bionpharma's portfolio include cetirizine and ibuprofen sold over the counter in the US but are on NDAs as they are sold under a differentiated formulation. One of the specialised drugs acquired is a soft gelatin form of loperamide used to treat diarrhea. Some of the products are distributed by partners such as Impax and Mylan.

CEO Venkat Krishnan, who led Ranbaxy's US operations before leaving the company last October, confirmed closure of the deal but did not divulge the value of the transaction.

Bionpharma has launched four products in the US through in-licensing deals a form of joint development with other companies. It has partnerships with global pharmaceutical companies, including a few from India such as Natco and Unimark Remedies. Krishnan told ET his company is seeking more opportunities to scale up, adding that the right mix of products and a clear business strategy with a secure and compliant supply chain can help accelerate growth. He indicated that Bionpharma may consider establishing a manufacturing base in the future.

The deal with Banner is expected to help jump start Bionpharma in the crowded generics space. Over the past 12 months, the company has seen a flurry of investments. New York-based global investment firm Signet Healthcare owns more than 40 per cent of the company while one of Canada's largest drug makers, Pharmascience, holds another chunk of equity. Krishnan, Gaurav Mehrotra, Bill Winter, Lavesh Samtani and Phanindranath Punji all of whom quit Ranbaxy in October last year form the third largest group of shareholders.

Sun Pharmaceutical Industries completed its acquisition of Ranbaxy in March.

IGI Laboratories, Inc. Enters Into Agreement To Acquire The Assets Of Canadian Pharmaceutical Company, Alveda Pharmaceuticals, Inc.

Acquisition Will Deliver Contribution to 2015 Financial Results

BUENA, N.J., Oct. 13, 2015 /PRNewswire/ -- IGI Laboratories, Inc. (NYSE MKT: IG), a New Jersey-based specialty generic pharmaceutical company, today announced it has entered into an agreement to acquire the assets of Alveda Pharmaceuticals, Inc. for $47 million CAD in cash. Alveda Pharmaceuticals, Inc. is a Canadian generic pharmaceutical company focused on providing the Canadian healthcare system with essential injectable pharmaceutical products. Products are supplied through Alveda's long-term partnerships with reputable European contract manufacturing organizations. Alveda currently markets 17 molecules in the Canadian market through its 36 injectables and is the market leader in Canada for most of the products in the Alveda catalogue.

Jason Grenfell-Gardner, President and CEO of IGI, commented, "This transaction should deliver contribution to our fourth quarter of 2015 financial results via a profitable commercial platform and growing pipeline of hospital-administered injectable products in Canada. The Alveda management team has a strong track record with the Canadian institutional supply chain including group purchasing organizations, wholesalers, and individual hospitals. The Alveda in-house regulatory team has been quite productive, and, as a result, Alveda currently has a pipeline of 8 products, 4 of which are pending approval by Health Canada.''

''This acquisition allows us to extend our TICO strategy into Canada,'' continued Mr. Grenfell-Gardner. ''This sector of the Canadian market typically offers timely generic approvals from Health Canada, which, together with the Alveda team, should accelerate the growth of IGI in Canada."

Albert Beraldo, President and CEO of Alveda Pharmaceuticals Inc., stated, "IGI's acquisition of the Alveda product line will further accelerate development of our proven business model. IGI provides a fantastic opportunity for the Alveda business to further expand product and service offerings for the benefit of patients throughout Canada." 
The transaction is expected to close before the end of November, 2015, subject to customary closing conditions.

Product Information
Alveda has projected net sales of approximately $16.0M CAD for their fiscal year ended September 30, 2015.
Alveda's marketed injectable products include:
• atropine sulphate
• acetylcysteine
• dimenhydrinate
• ergonovine maleate
• furosemide
• irinotecan
• lidocaine
• lidocaine with epinephrine
• piperacillin tazobactam
• methylene blue
• naloxone
• succinylcholine chloride
• sodium chloride
• sterile water
• epinephrine

About IGI Laboratories, Inc.
IGI Laboratories is a specialty generic pharmaceutical company. Our mission is to be a leading player in the specialty generic prescription drug market.

About Alveda Pharmaceuticals, Inc.
Alveda Pharmaceuticals, Inc. is a Canadian company specializing in the sale and distribution of quality pharmaceuticals. Alveda's dedicated employees are committed to addressing the unmet and under-met medical needs of the Canadian healthcare system.
http://www.alvedapharma.com/ 

For further information: Jenniffer Collins, IGI Laboratories, Inc., (856) 697-4379, www.igilabs.com

IGI Laboratories Announces Approval For Listing On The NASDAQ Global Select Market

BUENA, N.J., Oct. 14, 2015 /PRNewswire/ -- IGI Laboratories, Inc. (NYSE MKT: IG), a New Jersey-based specialty generic pharmaceutical company (the "Company"), today announced that it has been approved for listing on the NASDAQ Global Select Market. Trading on the NASDAQ Global Select Market is expected to commence when the market opens on October 26, 2015. The Company's common stock will continue to trade on the NYSE MKT until the market closes on October 23, 2015.

Jason Grenfell-Gardner, President and CEO of the Company, commented, "We are pleased to announce our listing on the NASDAQ Global Select Market. We believe the move to NASDAQ will improve the visibility of our stock, enhance trading liquidity in our shares, and provide us with greater exposure to a broader base of institutional investors."
About IGI Laboratories, Inc.

IGI Laboratories is a specialty generic pharmaceutical company. Our mission is to be a leading player in the specialty generic prescription drug market.

For further information: Jenniffer Collins, IGI Laboratories, Inc., (856) 697-1441, www.igilabs.com

Chr. Olesen Synthesis A/S Completes Financing

Chr. Olesen Synthesis A/S, the privately held Danish manufacturer of active pharmaceutical ingredients (APIs), announced it has raised EUR10 million through the sale of Series A Preferred Stock to the American private equity firm, Signet Healthcare Partners. Chr. Olesen Synthesis, founded in the 1970's, was taken over in 2012 in a financial restructuring led by Chr. Olesen Group, a 130-year old Danish distribution company. The Company intends to use these proceeds to increase its plant capacity and fund the development of hard-to-produce generic APIs. The partnership is expected to result in a significant increase of the Company's activities in the API market.

"We are very proud that we have succeeded in attracting attention from the international and well experienced Signet Healthcare Partners to partner with us in our API business. Chr. Olesen Synthesis is growing and we are sure to benefit from Signet's experience in both funding and supporting the development of the Company into the next level," says Mads C. Olesen, the Chairman of the Company.

"We are very grateful for the opportunity to become a shareholder in this growing company," said James Gale, a managing director at Signet who will be appointed to the board of Chr. Olesen Synthesis. "We are impressed with the chemical synthesis capability of the Company and its ability to provide excellent service to its customers. With this investment, we believe the business will have sufficient capacity to meet the demand for its APIs in the visible future."

About Chr. Olesen Synthesis A/S
Chr. Olesen Synthesis is a Danish manufacturer of selected APIs and advanced intermediates. Since its establishment in 2011, Chr. Olesen Synthesis has focused on building a new set-up and bringing the plant to a commercial stage. In short, Chr. Olesen Synthesis has successfully developed the manufacturing facility into a commercial multipurpose API manufacturing plant in 4 years.

Chr. Olesen Synthesis is initially active with API's comprising of molecules like Hydromorphone, Codeine Phosphate, Pramipexole, Terbinafine Risedronate, Tolfenamic Acid, Amphetamine derivatives and advanced intermediates for Buprenorphine and Tamsulosin.

Please visit Chr. Olesen Synthesis at chr-olesen.dk

About Signet Healthcare Partners
Founded in 1998, Signet Healthcare Partners provides growth capital to commercial-stage healthcare companies around the world. Over the past 16 years, Signet has organized three funds and completed investments in 44 companies with 26 exits. The team, comprised of five professionals with principal offices in New York City, brings over 100 years of collective healthcare experience in the specialty pharmaceutical, medical device, private equity and investment banking businesses. For more information, please visit Signet online at http://www.signethealthcarepartners.com.

Contact: Contact name: Alice Wedell-Neergaard, awn@chr-olesen.dk, +45-70230700