Ulrik Spork, Managing Partner of Novo Growth Equity, said: "We have been impressed with the successful track record of Archimedes over the last five years, and are very pleased to contribute to the further transformation of the Company with the launch of PecFent, Archimedes' nasal fentanyl spray, in Europe and US. Archimedes represents an ideal investment opportunity for us and supports our strategy to take major stakes in promising late stage life sciences companies with near-term commercial potential."
Jeffrey H. Buchalter, President and Chief Executive Officer of Archimedes, commented: "Archimedes is at a transformational stage in its development. It has built up a successful specialty pharma business in Europe and has filed its lead product, PecFent, for product approval in both Europe and the US. I am delighted to join as President and CEO to accelerate the expansion of Archimedes' business in Europe, support the commercialisation of PecFent, and build the operations in the US market."
The board of Archimedes will now include Simon Turton and Piyush Shukla
of Warburg Pincus; Ulrik Spork and G
SOURCE Archimedes Pharma
Copyright©2010 PR Newswire.
All rights reserved
Related medicine news :
1. Robert Wood Johnson Foundation Announces $15.6 Million Grant to Apply Power of the Archimedes Model to Critical Health Care Decisions
2. Anemia and tropical diseases; Is pharmacogenomics ready for the clinic?
3. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
4. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
5. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
6. The Pharma & Life Sciences Best Practice Database: an Industry Resource for Successful Techniques and Performance Benchmarks for Reaching the Top
7. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
8. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
9. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
10. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
11. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)