Navigation Links
Vernalis and Paul Capital Healthcare Sign euro 18.4 Million Financing Agreement
Date:4/20/2008

NEW YORK and WINNERSH, England, April 21 /PRNewswire/ -- Paul Capital Healthcare and Vernalis plc (LSE: VER) today announced that they have signed a financing agreement relating to frovatriptan, Vernalis' product for the treatment of migraine. Under the agreement, Vernalis will receive approximately euro 18.4 million in cash from Paul Capital Healthcare and, in return, Paul Capital Healthcare will receive approximately 90 per cent of Menarini's payments to Vernalis under their exclusive license and supply agreement for the commercialization of frovatriptan in Europe and certain other territories. Vernalis will continue to supply Menarini with frovatriptan active pharmaceutical ingredient.

Frovatriptan is currently approved for the acute treatment of migraine in Europe, the United States, Canada and seven Central American countries.

"Earlier this year, Vernalis restructured its operations to focus on its innovative discovery programs and to advance its promising pipeline of development stage products to the point at which they can be partnered. This transaction with Paul Capital Healthcare secures significant, non-dilutive funds for Vernalis, giving us the platform to rebuild new shareholder value in the medium term," said Tony Weir, CFO, Vernalis.

Dr. Ken Macleod, a partner at Paul Capital Healthcare, said: "Migraine affects about 10 percent of people and leads to billions of dollars in lost productivity each year. After extensively evaluating both the clinical and commercial data for frovatriptan, we believe this drug is positioned to capture a growing share of the market for migraine therapies. Growth capital is the hallmark of the companies and products in which Paul Capital Healthcare invests, and provides a compelling rationale for adding our investment in Vernalis and frovatriptan to our portfolio of investments."

About Paul Capital Partners and Paul Capital Healthcare

Through its funds, Paul Capital Healthcare is one
'/>"/>

SOURCE Paul Capital Healthcare
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. SPO Medical Retains American Capital Ventures for Investor Relations Services
2. MichBio Will Host Workshop on Capital Formation Prior to April 22 Annual Meeting
3. CV Therapeutics Announces $185 Million Transaction with TPG-Axon Capital for Half of Royalty for Lexiscan(TM) (regadenoson) Injection
4. Powersafe Technology Corp. Recapitalizes, Executes Merger Agreement with Amplification Technologies, and Invests in Amplification
5. RiverVest Venture Partners(R), a St. Louis-Based Venture Capital Firm Focusing on Life Sciences, Closes on Fund II, Names John P. McKearn, Ph.D., Venture Partner
6. Biotech Avoids Fall Out From Tough Quarter for Capital Markets
7. Plethora and Paul Capital Healthcare sign a $25 million revenue interest financing agreement with an option for an additional $3 million equity investment
8. Vermillion Meets Minimum Bid Price and Receives NASDAQ Staff Determination Letter for Minimum Market Capitalization
9. Pharmasset Receives $10 Million of Working Capital
10. Alexza Completes $10 Million Equity Financing with Bio*One Capital to Initiate Commercial Manufacturing in Singapore
11. Insmed Announces Listing Transfer from Nasdaq Global Market to Nasdaq Capital Market
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/19/2014)... 2014 Dublin ... has announced the addition of the  "Micro Market ... their offering.       (Logo: http://photos.prnewswire.com/prnh/20130307/600769) , ... the fastest-growing segments in the chromatography market. The ... and expected to reach $2.0 billion by 2019, ...
(Date:9/18/2014)... , Sept. 18, 2014 About POCT ... is performed outside a clinical laboratory. It helps ... administrating appropriate treatments and medication. POCT is gaining ... of lifestyle diseases such as diabetes, heart disease, ... POCT devices are standardized to minimize errors during ...
(Date:9/18/2014)... Texas Governor Rick Perry, Texas ... Health Science Center CEO Brett Giroir, M.D., and ... Human Services (HHS), State of Texas and biopharmaceutical ... vaccine manufacturing facility in Bryan, Texas, which when ... Texas A&M Biocorridor – a rapidly evolving hub ...
(Date:9/18/2014)... -- Research and Markets has announced the ... Reaction, In-situ hybridization, Immunohistochemistry) Market - Trends & Forecasts ... The global companion diagnostics market is expected to ... 2019. Factors such as rising need for personalized medicine ... the pharmaceutical industry, support from regulatory authorities, and emerging ...
Breaking Biology Technology:Micro Market Monitor : Global Pre-packed Chromatography Columns 2POCT Market in China 2014-2018 2Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 2Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 3Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 4Global Companion Diagnostics (Polymerase Chain Reaction, In-situ hybridization, Immunohistochemistry) Market - Trends & Forecasts to 2019 2Global Companion Diagnostics (Polymerase Chain Reaction, In-situ hybridization, Immunohistochemistry) Market - Trends & Forecasts to 2019 3
... Inc., a clinical,stage biopharmaceutical company developing novel multi-component ... present at the,Wachovia 2008 Healthcare Conference in Boston, ... Among the topics of the presentation will ... developments, including Phase III development,activities related to its ...
... Jan. 28 Campbell Alliance, the leading,management consulting ... announced that Nader Naeymi-Rad, Senior,Vice President of the ... Oncology Summit Europe. The event will be held ... Hotel in London, England., Mr. Naeymi-Rad,s presentation, ...
... 28 Nile Therapeutics,Inc. (OTC Bulletin Board: NILT.OB), ... disease, today announced the,appointment of Gregory W. Schafer ... the audit committee. Mr. Schafer is a seasoned ... biotechnology finance and operations., "We are delighted ...
Cached Biology Technology:Campbell Alliance Brand Management Practice to Discuss Managing Launch Logistics at the EyeForPharma Oncology Summit 2Nile Therapeutics Appoints Gregory W. Schafer to Board of Directors 2Nile Therapeutics Appoints Gregory W. Schafer to Board of Directors 3
(Date:9/19/2014)... The sense of fairness did not evolve for the ... reap the benefits of continued cooperation, so say Frans ... a review article about inequity aversion (IA), which is ... review is published in Science . , ... 35 IA-related studies to address their hypothesis that it ...
(Date:9/19/2014)... legume plants regulate their symbiotic relationship with soil ... through the plant structure from leaves into the ... in the roots. This collaborative study was conducted ... Biology, the Graduate University for Advanced Studies (SOKENDAI), ... in Japan. , Legumes, an important plant ...
(Date:9/18/2014)... N.Y. A sleep-promoting circuit located deep in the ... sleep. Discovered by researchers at Harvard School of Medicine ... Biomedical Sciences, this is only the second "sleep node" ... be both necessary and sufficient to produce deep sleep. ... , the study demonstrates that fully half of all ...
Breaking Biology News(10 mins):Evolution of responses to (un)fairness 2Evolution of responses to (un)fairness 3For legume plants, a new route from shoot to root 2No sedative necessary: Scientists discover new 'sleep node' in the brain 2
... There are few things more irritating than a fly ... to the problem. They hang up a bunch of Roridula ... leaf,s hairs, the hapless pest is soon trapped by the ... story. Each R. gorgonias plant is home to a population ...
... model for studying the genetics of Angelman syndrome, a ... in one out of 15,000 births, has been developed ... Their research demonstrates that when a particular fruit ... behavioral dysfunctions similar to those experienced by humans whose ...
... Say the word "biofuels" and most people think of ... technology called gasification that,s getting a new look from ... and Iowa State University. By combining gasification with ... from a wide range of biomass, including distiller,s grain ...
Cached Biology News:Nothing stops an expert in the art of living 2Model for angelman syndrome developed by University of Texas at Austin biologists 2Turning waste material into ethanol 2
... LTQ XL extends the MSn performance of ... new tools to generate extensive structural information ... applications. , Multiple dissociation techniques (PQD, ... and unpredicted metabolites , Fast polarity switching ...
For removal of the zona pellucida. Sterile, Mouse Embryo tested...
A substrate for all AChE-based EIA kits....
... secretion of cytoplasmic granules, is a ... of leukocytes (e.g. basophils, neutrophils, eosinophils, ... histamine, these secretory granules contain many ... and many proteases (Hallgren, 2001). Tryptase, ...
Biology Products: