RICHMOND, Va., July 14, 2008 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq CM: INSM), a developer of follow-on biologics and biopharmaceuticals for unmet medical needs, today announced that the Company has retained the services of RBC Capital Markets (RBC) to act as its strategic financial advisor.
"Insmed's Board of Directors and senior management team are dedicated to enhancing shareholder value and will be utilizing RBC's experience and expertise to examine a number of various strategic alternatives that may achieve this end," said Geoffrey Allan, President and CEO of Insmed. "We firmly believe that Insmed has one of the most advanced follow-on biologics platforms in the U.S. and that follow-on biologics represent a multi-billion dollar opportunity. We are confident that this process to prioritize strategic alternatives aimed at leveraging our significant assets will lead to enhanced value for all of our stakeholders."
Insmed's biologics facility in Boulder, CO, in combination with its highly experienced staff specialized in therapeutic protein development, positions the Company to pursue the significant opportunities expected to be available in the emerging follow-on biologics (FOB) industry. Insmed's comprehensive capabilities in cell line development, product characterization, manufacturing, and clinical development of follow-on biologics, position Insmed to potentially be one of the first few initial entrants in the rapidly evolving FOB marketplace.
Insmed's most advanced follow-on biologics, INS-19, (Granulocyte Colony
Stimulating Factor or G-CSF), an FOB of Neupogen(R), and INS-20 (Peg
G-CSF), an FOB of Neulasta(R), recorded combined 2007 brand sales of over
$4 billion for the treatment of neutropenia. The Company recently announced
that it has demonstrated the bioequivalence of INS-19 compared to
Neupogen(R), becoming the first U.S. company to disclose such human
bioequivalence data. Based on this data, Insmed intends to request
|SOURCE Insmed Inc.|
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