SAN FRANCISCO, Jan. 9 /PRNewswire/ -- Burrill Merchant Banking acted as exclusive financial advisor to Faes Farma (Spain) on its recently-completed commercial partnering of bilastine with the Menarini Group (Italy). Under the terms of the agreement, Faes has licensed bilastine rights in Europe and other regions to Menarini for the treatment of seasonal allergic rhinitis.
Bilastine is a new highly selective H1 antihistamine for once daily oral administration. Allergic rhinitis prevalence in Europe is approximately 23% and many patients are under-diagnosed and under-treated. Bilastine has been assessed in multiple human trials involving 4,000 patients, including two pivotal Phase III trials.
The agreement includes milestone payments and royalties of 10-15% of annual sales in the licensed territories, incorporating the 27 EU member states and 24 additional countries in Eastern Europe, Scandinavia, Central Asia and the Mediterranean region. The Menarini Group is a privately held company headquartered in Florence Italy with 12,000 employees and estimated 2007 turnover of euro 2,500M.
About Burrill Merchant Banking
Burrill Merchant Banking assists life science companies to identify,
negotiate and close strategic transactions. Service lines include:
-- Mergers & Acquisitions
-- Strategic Partnering from preclinical research to product development
-- Spin-Outs and Divestitures
-- Financing (Private Placements)
-- Advisory Services to define the role of transactions in achieving
About Burrill & Company
Founded in 1994, Burrill & Company is a San Francisco-based global
leader in life sciences with activities in Private Equity, Venture Capital,
Merchant Banking and Media. The Burrill family of venture capital funds has
over $950 million under management and its merchant banking business is one
of the industry leaders in life scienc
|SOURCE Burrill Merchant Banking|
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