NEW YORK, MUNICH, Germany and AMSTERDAM, Netherlands, Aug. 21 /PRNewswire/ -- Paul Capital Healthcare and SpePharm Holding, B.V., the pan-European specialty pharmaceutical company, today announced that they have entered into a euro 10 million revenue interest acquisition financing agreement to fund SpePharm's acquisition of Dantrium(R) for Europe and certain other markets, from Procter & Gamble Pharmaceuticals. At the same time, TVM Capital, Signet Healthcare Partners and Paul Capital Healthcare also announced the closing of a euro 16 million equity financing round to fund the ongoing growth of SpePharm Holding, B.V. SpePharm's senior management will also participate in this 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 of our company. The investment made by Paul Capital Healthcare and the increased financial commitment of our founding investors TVM Capital and Signet Healthcare Partners will enable SpePharm to accelerate the implementation of its strategy to become a leading pan-European specialty pharmaceutical company. These transactions will provide SpePharm with the resources to complete the build up of our sales and marketing infrastructure, launch and promote our current product portfolio and acquire rights to additional products in areas of therapeutic interest."
Mr. Labbe continued:
"Dantrium is a unique product used to treat malignant hyperthermia, a life-threatening reaction to certain gaseous anesthetics. Dantrium's significant clinical benefit fits perfectly with SpePharm's focus on hospital products that provide substantial medical and economic value. Procter & Gamble has established a solid commercial platform for Dantrium, and we believe that SpePharm has the strategy and resources to enhance the product's commercial and clinical value."
Dr. Ken Macleod, a partner at Paul Capital Healthcare, said
|SOURCE Paul Capital Healthcare|
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