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GANIC Pharmaceuticals Launched with Premier Pharmaceutical Industry Executives
Date:6/18/2008

- Company To Actively Pursue Acquisition Opportunities -

BRIDGEWATER, N.J. and NEW YORK, June 18 /PRNewswire/ -- GANIC Pharmaceuticals, a new specialty pharmaceutical company, today announced its launch backed by Warburg Pincus, the leading global private equity firm. Warburg Pincus has made an initial investment in GANIC from Warburg Pincus Private Equity X, L.P., a $15 billion fund, which closed in April.

GANIC Pharmaceuticals was founded by a highly seasoned group of senior executives with 65 years of collective experience in the pharmaceutical industry, in partnership with Warburg Pincus. The company's founders include Paul Edick, Chief Executive Officer, Chief Financial Officer Corey Fishman, and Chief Commercial Officer Chris Maltese, all formerly senior executives at MedPointe Pharmaceuticals.

Paul Edick, CEO of GANIC Pharmaceuticals, said, "We see tremendous opportunities for profitable growth and expansion across our targeted areas of focus. We believe that we have the expertise, industry networks, talent base and funding to begin executing towards our objectives. We are very pleased to have as our sole investor, Warburg Pincus, a firm with great insight and expertise in our arena, which shares our strategic vision to build a great company."

GANIC Pharmaceuticals will focus on building a substantial enterprise by acquiring revenue-generating companies, portfolios and/or products and by investing in innovation and acquiring pipeline development assets. GANIC plans to target certain specialty pharmaceutical areas.

Commenting on the investment, Jonathan S. Leff, a Managing Director of Warburg Pincus, stated, "We are delighted to partner with the GANIC team, which has a proven track record for delivering value to investors and the pharmaceutical marketplace. We are confident that their strategy and ability to execute effectively, when combined with our funding and strategic support, will enable them to build a sub
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SOURCE GANIC Pharmaceuticals
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