OXFORD, UK, October 28th, 2016

PharmaVentures is pleased to announce that it acted as adviser to IDT Australia Limited for the successful divestment of CMAX, a dedicated clinical trials business, to the Japanese healthcare company I’rom Group Co. Ltd. for a minimum AUD 14,000,000. 

The acquisition is subject to the satisfaction of certain conditions precedent, and as part of the agreed upon structure of the deal, IDT will establish and integrate the CMAX business within a new company (henceforth referred to as NewCo).  I’rom Group will initially acquire 61% of the shares of NewCo; and I’rom Group and IDT will jointly manage NewCo through their 61% and 39% respective share holdings.  This will allow I’rom Group to integrate the CMAX business and to learn from IDT’s experience in managing CMAX, paving the way for I’rom Group to acquire the remaining shares of NewCo over the next twelve months.

IDT will receive an initial cash payment of AUD 10,000,000 in consideration for 61% of the CMAX business.  A second payment for the remaining 31% of the CMAX business will be a minimum of AUD 4,000,000 (payable at I’rom Group’s election in cash or a combination of cash and forgiveness of IDT shares). The second consideration payment may increase subject to an earn-out provision and a third payment on achieving a specific business milestone.

Stephen Waterman, Managing Director, PharmaVentures said; “We are delighted to have used our expertise in the CRO sector to assist IDT in its strategic move into the specialty generics space.”

Fintan Walton, Chairman and Chief Executive of PharmaVentures said: “This deal both establishes PharmaVentures as a player in the CRO M&A space as well as continuing to demonstrate its expertise in cross-border transactions in the Asia-Pacific region.”

For the past 24 years, PharmaVentures has acted as an advisor to over 700 global pharmaceutical and biotechnology clients in transactions; covering licensing, mergers, acquisitions, divestments and joint venture activities for companies.

About IDT

IDT Australia Ltd recently acquired a portfolio of 23 generic drugs to manufacture and sell via US distribution partners. With IDT’s 2013 Temozolomide ANDA filing this signifies IDT’s move to rapidly become a specialty generics business with near term revenue build up.

IDT (ASX:IDT) is a public Australian pharmaceutical manufacturing company based in Boronia, Victoria, Australia. It has extensive experience in the development and production of high potency and high containment pharmaceutical products for local and international clients. IDT’s facilities are fully cGMP compliant and are regularly audited by the US FDA and Australian TGA. With an experienced team of specialists within world-class facilities, IDT provides a full-scale service for new drug development and scale-up, commercial active drug manufacture as well as a variety of oral and injectable finished drug dose forms.

Through CMAX, its clinical research services business based adjacent to the new Royal Adelaide Hospital in South Australia, IDT also provides full Phase I clinical trials management and delivery, recruitment in specific disease states for Phase II and Phase III trials as well as offering trial packaging, distribution and pharmacy services from the cGMP Boronia facilities.

Click here to see IDT’s Press Release

About I’rom

I’rom Group Co. Ltd is an integrated Japanese healthcare company listed on the Tokyo Stock Exchange. I’rom Group’s primary business is the provision of clinical trial site management services as a Site Management Organisation (“SMO”). I’rom Group have been an IDT shareholder since 2013.  I’rom Group believes that the acquisition of the CMAX business will help grow profits and help the company and its shareholders through an increased corporate value. Furthermore, I’rom Group will be able to acquire knowledge that will assist in growing the company’s existing clinical trial and advanced therapeutics business domains.

OXFORD, UK, July 27st, 2016

PharmaVentures is pleased to announce that it acted as an adviser to the Baylor Scott & White Research Institute in connection with the creation of Denceptor Therapeutics Limited.

Denceptor Therapeutics will develop immunotherapeutic products to treat cancer and auto immune diseases using Baylor Scott & White Reasearch Institutes’s dendritic cell receptor-targeting antibodies. These antibodies will be humanized using Abzena’s Composite Human Antibody™ technology to reduce unwanted drug immunogenicity. Denceptor Therapeutics will operate as a virtual business and outsource its development and manufacturing activities. Baylor Scott & White Research Institute and Abzena will be amoung the outsourced service providers. 

Denceptor Therapeutics has an option to exclusively license antibodies from Baylor Scott & White Research Institute with a sub-license to the humanized versions of the antibodies created by Abzena. The antibodies will deliver antigens to specific receptor on dendritic cells to induce or suppress an immune response in order to treat a variety of cancers and autoimmune diseases.

Nigel Borshell, Vice President, PharmaVentures said: “Collaborations like this are a valuable way of bringing together key technologies and skills so that the whole is greater than sum of the parts. Understanding the value of the contributing parts is key to a successful relationship.“

Fintan Walton, Chief Executive, PharmaVentures said: “We were delighted to be able to provide Baylor with our extensice commercial sector expertise and help them in the establishment of this exciting new venture with Abzena plc.“

The Baylor Scott & White Research Institute is an affiliate of the Baylor Scott & White Health, which conducts over 5 million patient encounters annually, and have 6000 medical staff members and 48 hospitals that are owned, operated, joint-ventured or affiliated.

Abzena (AIM: ABZA) provides proprietary technologies and complementary services to enable the development and manufacture of biopharmaceutical products. The Group has a global customer base which includes the majority of the top 20 biopharmaceutical companies as well as large and small biotech companies and academic groups.

For the past 24 years, PharmaVentures has acted as an advisor to over 700 global pharmaceutical and biotechnology clients in transactions; covering licensing, mergers, acquisitions, divestments and joint venture activities for companies.

OXFORD, UK, July 21st, 2016

PharmaVentures is pleased to announce that today it has launched a new FCA regulated firm, Pharmaventures Capital Ltd which will carry out all future FCA regulated corporate finance related mandates.

The new firm, which is 100% owned by PharmaVentures, will be able to expand our client offering to include: publice transactions; certain transactions involving listed companies; and fund raising. 

Fintan Walton, Chief Executive of PharmaVentures said: “We are delighted to expand our offering to clients through this new FCA regulated firm as it is quite common for our clients to require a broader range of corporate finance advice”.

Those authorised to conduct regulated work include Fintan Walton, Chairman and Chief Executive, Stephen Waterman and Ping Shek, all of whom are Board Directors of PharmaVentures Capital Ltd. and Issac Jacob, Senior Director at PharmaVentures Ltd.

The Financial Conduct Authority is the major financial regulatory body in the UK which regulates the financial services industry in the UK. Its role includes protecting consumers, keeping the industry stable, and promoting healthy competition between financial service providers. The UK is one of the leading centres for financial services in the world.

For the past 24 years, PharmaVentures has acted as an advisor to over 700 global pharmaceutical and biotechnology clients in transactions; covering licensing, mergers, acquisitions, divestments and joint venture activites for companies.

OXFORD, UK, March 22nd, 2016.

PharmaVentures is pleased to announce that it acted as an independent technical and commercial expert adviser to 3Legs on its Reverse Takeover of SalvaRx. 3Legs Resources is an investment company that focuses on life sciences and related technologies. (To read the admission document, download the PDF)

SalvaRx is an immuno-oncology company developing novel therapeutics that stimulate the immune system to fight cancer. SalvaRx also owns over 60% of iOx Therapeutics, which is developing anti-cancer treatments based on invariant natural killer T-cells and is poised to undertake the first Phase I/II human trials.

Adrian Dawkes, Vice President, PharmaVentures said; “In the pivotal area of immuno-oncology we were pleased to be able to provide an expert assessment of the iOx technology to support 3Legs in its acquisition.”

Fintan Walton, Chief Executive of PharmaVentures said: “This is the twelfth independent expert report we have provided for companies raising finance, and the third during the recent upturn in IPO activities in the UK. Expert commercial and technical insight is a key component in company acquisitions especially where public markets are involved. PharmaVentures is able to provide valuable advisory services for our clients via our deep knowledge of the pharmaceutical and biotechnology sectors.”