Participates in funding that raises $342 million total to advance new
medicines
RESEARCH TRIANGLE PARK, N.C., Jan. 8 /PRNewswire/ -- NovaQuest, the
strategic partnering group of Quintiles Transnational Corp., continues to
be a leader in providing funding, strategic expertise and management
services to emerging biotechnology companies worldwide, forming 16 such
alliances through its investments in 2006.
NovaQuest participated as a minority investor in funding rounds that
raised a total of $342 million for those companies; most of its emerging
biotech investments ranged from $1 million to $5 million.
All NovaQuest partnerships involve financial support and strategic
development or marketing expertise; many also include product development
or commercialization services from Quintiles. During 2005, NovaQuest's eBio
unit, which is dedicated to serving the emerging biotech and small-pharma
market sector, invested in eight companies. It doubled that number in 2006.
"Three things are driving the active global biotech market that we're
participating in," said C.G. "Chip" Gillooly, Global Vice President of
NovaQuest's eBio unit. "First, biotech's continued progress in developing
promising new medicines. Second, private capital markets continue to value
these companies more favorably than the global public equities markets,
thereby altering investor exit strategies. Third, the value NovaQuest
brings - the experience and intellectual capital necessary to advance
experimental programs, non-dilutive financing, alternatives to premature
out-licensing and access to Quintiles' global development and
commercialization resources.
"We believe NovaQuest is among the leaders in biotech financing
activity, and the only company combining that with the development and
commercialization expertise available from Quintiles."
Quintiles Transnational Corp. is powering the next generation of
healthcare by providing a broad range of professional services in drug
development, financial partnering and commercialization for the
biotechnology and healthcare industries. With 16,000 employees and offices
in more than 50 countries, it is focused on providing customer-centric
solutions that are the gold standard of the industry. For more information,
please visit the company's Web site at http://www.qtrn.com.
NovaQuest, the strategic partnering group of Quintiles Transnational,
is an industry pioneer in offering tailored financial and operational
solutions that help pharmaceutical and biotech companies overcome
development and commercialization challenges. Its unique managed
partnership approach ensures sponsorship by senior-level executives; access
to global development and commercial resources and expertise; and efficient
operational delivery of services. Since 2000, NovaQuest has committed more
than $1.6 billion in "smart money" to alliances with companies of all
sizes. For more information, please visit http://www.novaquest.com.
SOURCE Quintiles Transnational Corp.
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Related links:
http://www.quintiles.com
http://www.qtrn.com http://www.novaquest.com
CONTACT:
Jay Johnson, Media Relations,
media.info@quintiles.com, or Greg Connors, Investor Relations,
invest@quintiles.com, both of Quintiles Transnational Corp.,
+1-919-998-2000
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