BRIDGEWATER, N.J. and NEW YORK, June 18 GANICPharmaceuticals, a new specialty pharmaceutical company, today announced itslaunch backed by Warburg Pincus, the leading global private equity firm.Warburg Pincus has made an initial investment in GANIC from Warburg PincusPrivate Equity X, L.P., a $15 billion fund, which closed in April.
GANIC Pharmaceuticals was founded by a highly seasoned group of seniorexecutives with 65 years of collective experience in the pharmaceuticalindustry, in partnership with Warburg Pincus. The company's founders includePaul Edick, Chief Executive Officer, Chief Financial Officer Corey Fishman,and Chief Commercial Officer Chris Maltese, all formerly senior executives atMedPointe Pharmaceuticals.
Paul Edick, CEO of GANIC Pharmaceuticals, said, "We see tremendousopportunities for profitable growth and expansion across our targeted areas offocus. We believe that we have the expertise, industry networks, talent baseand funding to begin executing towards our objectives. We are very pleased tohave as our sole investor, Warburg Pincus, a firm with great insight andexpertise in our arena, which shares our strategic vision to build a greatcompany."
GANIC Pharmaceuticals will focus on building a substantial enterprise byacquiring revenue-generating companies, portfolios and/or products and byinvesting in innovation and acquiring pipeline development assets. GANIC plansto target certain specialty pharmaceutical areas.
Commenting on the investment, Jonathan S. Leff, a Managing Director ofWarburg Pincus, stated, "We are delighted to partner with the GANIC team,which has a proven track record for delivering value to investors and thepharmaceutical marketplace. We are confident that their strategy and abilityto execute effectively, when combined with our funding and strategic support,will enable them to build a substantial and important pharmaceutical company."In conjunction with this investment, Mr. Leff, Managing Director Stewart Henand Principal Cecilia Gonzalo of Warburg Pincus will join GANICPharmaceuticals' board of directors.
About GANIC Pharmaceuticals
Based in New Jersey, GANIC Pharmaceuticals is a new specialtypharmaceutical company, founded by a highly seasoned group of seniorexecutives with 65 years of collective experience in the pharmaceuticalindustry, in partnership with Warburg Pincus, a leading global private equityfirm. The company is focused on building a fully-integrated pharmaceuticalsenterprise focused on certain specialty areas.
About Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971. Thefirm currently has more than $35 billion of assets under management. WarburgPincus' investments are focused on a range of sectors in North America, Europeand Asia, including financial services, healthcare, industrial, technology,media and telecommunications, energy, consumer and retail and real estate.Since inception, the firm has raised 12 private equity funds that haveinvested more than $31 billion in approximately 600 companies in more than 30countries. The firm has invested $6.6 billion in healthcare-related companiesaround the world, including approximately $1.6 billion to help build nearly 40biotechnology and pharmaceutical companies. The firm has an active globalportfolio of more than 125 companies and offices in Beijing, Frankfurt, HongKong, London, Mumbai, New York, San Francisco, Shanghai and Tokyo. For moreinformation, visit www.warburgpincus.com.Business Inquiries Corey Fishman GANIC Pharmaceuticals 908-252-9404 [email protected]
Media Inquiries Todd Fogarty or Joseph Kuo Kekst and Company 212-521-4800 [email protected]
or [email protected]
SOURCE GANIC Pharmaceuticals