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Arbor Pharmaceuticals Completes $34.8 Million Financing
Date:11/11/2010

ATLANTA, Nov. 11, 2010 /PRNewswire/ -- Arbor Pharmaceuticals, a specialty pharmaceutical company based in Atlanta, GA, announced today the completion of a $34.8 million financing.  This financing included a $17.5 million investment in the form of Series B Preferred Stock led by Signet Healthcare Partners, LLC.  The remainder of the financing was in the form of a term loan provided by several of the investing parties.  Also participating in both the Series B equity investment and the loan were existing Arbor shareholders, JW Asset Management, LLC and ARCH Healthcare Fund, which are led by Jason Wild and Allen Chao respectively.  

Ed Schutter, President and CEO of Arbor commented, "We are pleased with the commitment to Arbor demonstrated by our Series B investors. We have already completed several product license or acquisition agreements in the six months since the acquisition of Arbor by our original investment team and expect to use this funding to acquire other products."

Jim Gale, Managing Director of Signet Healthcare Partners added, "Arbor Pharmaceuticals has grown tremendously in the past year.  We expect them to continue this impressive growth rate for the foreseeable future.  This infusion of capital will enable Arbor to acquire other products positioning it to become a leading specialty pharmaceutical company."

Jason Wild, Chairman of the Board of Arbor added, "We are pleased to be adding Signet, with its industry expertise, to the Arbor shareholder base.  Arbor has an established national sales force with 75 professionals and we expect revenues to exceed $100 million in 2011. We are very pleased with this progress as it surpasses the near term goals we had established when we acquired the Company in April 2010."

About Arbor Pharmaceuticals, Inc.

Arbor Pharmaceuticals, headquartered in Atlanta, Georgia, is a specialty pharmaceutical company currently focused primarily on the gr
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SOURCE Arbor Pharmaceuticals
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