Dr. Ken Macleod, Principal at Paul Capital Healthcare, said: "As with all of our transactions, we conducted rigorous due diligence on both the clinical and commercial potential of Plethora's male health portfolio. We believe that the products within this portfolio are very well positioned to address the needs of men with sexual dysfunction, a condition that affects 20-30 percent of men at some point during their lifetime. Given this large market, Plethora's male health products are an attractive investment opportunity for our fund."
Dr. Steven Powell, Plethora CEO, commented: "This agreement provides us
with financial resources to help fulfil our ambitions for the growth of
Plethora. Additionally, this investment by a Paul Capital Healthcare fund
is a strong vote of confidence in the commercial prospects of our male
health franchise. In a climate where equity based financing would be highly
dilutive to shareholders, this non-dilutive finance facility will
strengthen our balance sheet and help conclude on-going licensing
discussions with regard to PSD502. We also expect that this transaction
will maximise value realisation from our male health portfolio, including
our Timm Medical operation. Also, along with the increased commitment from
ETV Capital S.A., this transaction will facilitate the execution of
Plethora's product and corporate development ambitions."
For further information contact:
Plethora Solutions Tel : 020 3077 5400
Plethora City/Financial Enquiries Tel: 020 7379 5151
Brian Hudspith/Liz Morley
Paul Capital Healthcare
Fern Lazar Tel: 1 212 867 1762
|SOURCE Paul Capital Healthcare|
Copyright©2008 PR Newswire.
All rights reserved