PharmaVentures Ltd (“PharmaVentures”) is pleased to announce that it was the corporate finance advisor to Novartis on the divestment of its manufacturing facility in Barberà del Vallès, Spain, to Siegfried Holding AG, a global contract development and manufacturing organisation (CDMO).

PharmaVentures is a premier transaction advisory firm; a world leader in partnering, pharma M&A deals and strategic alliances.

An unrivalled bank of specialist experience, deal analytics and network of contacts among innovators and large pharma makes PharmaVentures uniquely placed to support healthcare businesses in all aspects of deal-making and strategic planning. PharmaVentures is well known for its deep insight into deal structures and its success for generating partnering interest.

PharmaVentures Capital Ltd is a wholly owned subsidiary of PharmaVentures Ltd. All regulated activities are delivered through PharmaVentures Capital Ltd, which is authorised and regulated by the Financial Conduct Authority (741356). PharmaVentures Capital Ltd undertakes regulated activities for and on behalf of professional clients only as defined in the FCA handbook COBS 3.5.

PharmaVentures Ltd (“PharmaVentures”) is pleased to announce that it acted as exclusive adviser to Vital Food Processors Ltd (“Vital Foods”), an agricultural science company founded in New Zealand, on an asset purchase agreement with Mundipharma for the global rights beyond New Zealand to commercialise Zyactinase™ – a clinically-proven gastrointestinal consumer health product.

Zyactinase™is the basis of market leading, natural, plant-based consumer health products for the promotion of digestive health. Zyactinase™ is a freeze-dried extract of Kiwifruit (Actinidia deliciosa) that has been developed as a constipation relief product as well as for long-term gut health. It contains a protease complex, fiber, pectin and fructo-oligosaccharides that stimulates increased bowel movements.

Under the agreement, Mundipharma will initially focus on the commercialising of Zyactinase™ to establish a foothold in the US and Canada markets, while continuing to supply existing partners. It will then look to expand its marketing and distribution footprint globally.

This agreement will also enable the extension of the company’s Senokot®product range in the US, which is also an all natural, clinically proven digestive health supplement for the treatment of constipation. (see http://www.prnewswire.co.uk/news-releases/mundipharma-closes-acquisition...)

Adrian Dawkes, Managing Director, who led the deal at PharmaVentures, commented; “The consumer health space has seen significant deal activity recently and, not surprisingly, there was a lot of interest in Vital Foods’ assets. We are delighted to have been able to secure this deal with Mundipharma who are ideally placed to maximise the potential of Zyactinase”.

Fintan Walton, Founder and Chief Executive of PharmaVentures said; “We are particularly pleased to have brought PharmaVentures’ broad experience and skills to bear in another cross-border deal where the pairing of high-quality assets from Vital Foods with an ideal acquirer in Mundipharma has resulted in an excellent outcome for all”.

PharmaVentures Ltd. (“PharmaVentures”) is pleased to announce that it acted as an independent adviser to SalvaRx Group plc (SALV:LSE) (“SalvaRx”) and Portage Biotech, Inc (“Portage”), on the acquisition of its subsidiary SalvaRx Ltd by Portage. Subject to regulatory and shareholder consent, Portage will acquire 100% of SalvaRx Limited for an aggregate consideration of US$71.7 Million.

SalvaRx is a related party of Portage, the transaction is subject to the requirements of Alberta Securities Commission’s Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions ("MI 61-101"). As a consequence, the Transaction requires minority shareholder approval.

Although the transaction is exempt from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) PharmaVentures was commissioned by SalvaRx and Portage to perform an independent valuation (the "Valuation") of SalvaRx Limited. The Valuation, dated July 23, 2018, provided the parties with, amongst other things, a discussion of various methodologies to value SalvaRx Limited as well as a range of possible values.

For more information see the Portage Biotech press release.

Adrian Dawkes, Managing Director, PharmaVentures, commented; “We have worked previously with SalvaRx and were pleased to provide our extensive valuation capabilities and market knowledge to assist in this transaction”.

Fintan Walton, Founder and Chief Executive of PharmaVentures said; “PharmaVentures is trusted by long established pharmaceutical companies, governments as well as innovative biotechs like SalvaRx to provide high quality, robust and comprehensively researched valuations to support their key strategic transactions. We are pleased to have assisted SalvaRx in their endeavors”.

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.

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.