NEW YORK, MUNICH, Germany and AMSTERDAM, Netherlands, Aug. 21 /PRNewswire/-- Paul Capital Healthcare and SpePharm Holding, B.V., the pan-Europeanspecialty pharmaceutical company, today announced that they have entered intoa euro 10 million revenue interest acquisition financing agreement to fundSpePharm's acquisition of Dantrium(R) for Europe and certain other markets,from Procter & Gamble Pharmaceuticals. At the same time, TVM Capital, SignetHealthcare Partners and Paul Capital Healthcare also announced the closing ofa euro 16 million equity financing round to fund the ongoing growth ofSpePharm Holding, B.V. SpePharm's senior management will also participate inthis current equity financing.
Jean-Francois Labbe, Chief Executive Officer of SpePharm, said:
"We are very pleased and excited by this major step in the development ofour company. The investment made by Paul Capital Healthcare and the increasedfinancial commitment of our founding investors TVM Capital and SignetHealthcare Partners will enable SpePharm to accelerate the implementation ofits strategy to become a leading pan-European specialty pharmaceuticalcompany. These transactions will provide SpePharm with the resources tocomplete the build up of our sales and marketing infrastructure, launch andpromote our current product portfolio and acquire rights to additionalproducts in areas of therapeutic interest."
Mr. Labbe continued:
"Dantrium is a unique product used to treat malignant hyperthermia, alife-threatening reaction to certain gaseous anesthetics. Dantrium'ssignificant clinical benefit fits perfectly with SpePharm's focus on hospitalproducts that provide substantial medical and economic value. Procter & Gamblehas established a solid commercial platform for Dantrium, and we believe thatSpePharm has the strategy and resources to enhance the product's commercialand clinical value."
Dr. Ken Macleod, a partner at Paul Capital Healthcare, said:
"We believe that SpePharm's management team has an effective strategy inplace to become a leading specialty pharmaceutical company, meeting the needsof patients and physicians throughout Europe. Paul Capital Healthcare'sinvestment in SpePharm is consistent with the Fund's mission to provide growthcapital to innovative companies. The Fund's investments in SpePharm will helpthe Company achieve its strategic objectives and underscores Paul CapitalHealthcare's commitment to tailoring financial vehicles that meet the uniqueneeds of individual healthcare companies throughout the world."
James Gale, a founding partner and Managing Director of Signet HealthcarePartners commented:
"We are delighted that Paul Capital Healthcare has joined the SpePharminvestor group. The Fund's financial commitment to the Company validates thesubstantial business opportunity for a pan-European specialty pharmaceuticalcompany. SpePharm is taking a leadership position in the market for importanttherapeutic products with annual sales below euro 100M, which is underservedby large pharmaceutical companies. We believe that SpePharm is very wellpositioned to create value for patients, healthcare providers and theCompany's investors."
Dr. Hubert Birner, General Partner of TVM Capital added:
"The investment by Paul Capital Healthcare will support SpePharm'sstrategy of growth through active in-licensing and/or M&A. We believe that theextensive business development network provided by Jean-Francois Labbe and histeam, Paul Capital Healthcare and the founding investors TVM Capital andSignet HealthCare Partners will yield numerous high value opportunities forSpePharm."
About Paul Capital Healthcare and Paul Capital Partners
Through its funds, Paul Capital Healthcare is one of the largest dedicatedhealthcare investors globally, with more than $1.5 billion in equity capitalcommitments and debt facilities unde