Alliance with TPG-Axon reinforces capabilities of NovaQuest, which has $1.5
billion committed to partnerships with pharma and biotech companies
RESEARCH TRIANGLE PARK, N.C., May 11 /PRNewswire/ -- Quintiles
Transnational Corp. today announced the launch of its expanded strategic
partnering group under the NovaQuest(TM) brand and, to further NovaQuest's
mission, an alliance with TPG-Axon Capital, a global investment firm with
over $5.8 billion in equity capital. NovaQuest helps life-science companies
realize greater value from their product portfolios through innovative
strategic partnering solutions.
TPG-Axon, led by the former head of Goldman Sachs' Principal Strategies
Department, Dinakar Singh, will be NovaQuest's first-line partner for
significant co-development and co-promotion investments.
Since 2000, when Quintiles started a formal strategic partnering
function, more than $1.5 billion has been invested or committed to
Quintiles' partnerships with companies of all sizes. Within NovaQuest are
Quintiles' key investment partnering functions, including agreement
structuring and due diligence (formerly known as PharmaBio Development) and
alliance management.
Through its alliance with TPG-Axon, NovaQuest has access to capital to
fund strategic partnerships of virtually any size. TPG-Axon already has
committed several hundred millions of dollars to NovaQuest partnerships to
date.
"NovaQuest's launch and its alliance with TPG-Axon is confirmation of
the power of partnering with Quintiles," said Quintiles Transnational
founder, Chairman and Chief Executive Officer Dennis Gillings, Ph.D., CBE.
"Customers can tap into our global development and commercialization
infrastructure, deal-making expertise, and financial resources to create
tailor-made solutions to their most significant strategic and financial
challenges."
Singh, founder of TPG-Axon, said: "This alliance further enhances TPG-
Axon's ability to find, analyze and act on non-traditional investment
opportunities in the life sciences. I believe NovaQuest offers pharma and
biotech companies 'smart money' - financial solutions backed by Quintiles'
expertise and capabilities in global product development and
commercialization. This is a powerful resource for pharma and biotech
companies seeking new solutions to major challenges."
NovaQuest offers partnering solutions in three major categories:
- Co-development and co-promotion investments in which NovaQuest invests
with cash or Quintiles services, or a combination of both, in a
customer's drug development or commercialization programs. TPG-Axon
will be NovaQuest's partner for investments of this type.
- Strategic resourcing to convert fixed-cost assets to variable cost,
while giving customers continued access to these assets as needed.
This allows companies to advance a single product or an entire
portfolio more cost-effectively.
- Emerging biotech focused on helping small and medium-sized biotechs
access Quintiles as a "virtual infrastructure" for global development
and commercialization, often in combination with tailored financial
assistance.
NovaQuest has scientific, medical and market intelligence experts who
evaluate product or portfolio opportunities; finance and legal experts with
proven experience in structuring partnerships tailored to each customer's
specific needs; alliance managers who manage the life-cycle of each
partnership; and a group dedicated to serving emerging biotech companies.
NovaQuest will be led by Ron Wooten, Executive Vice President,
Corporate Development, Quintiles Transnational, who has overseen the
development of Quintiles' partnering capabilities since joining the company
in 2000.
"In less than seven years, we've seen partnering grow from a promising
concept to a proven strategic option," Wooten said. "NovaQuest's launch
reflects the maturity of Quintiles' partnering capabilities, our record of
success and increasing demand from customers. Doing business as usual isn't
enough anymore. Customers need alternative growth strategies designed
around their specific challenges and goals. NovaQuest is here to provide
those solutions."
About NovaQuest and Quintiles Transnational
NovaQuest, the strategic partnering group of Quintiles Transnational
Corp., is dedicated to generating alternative growth strategies for
pharmaceutical and biotechnology companies, and offers them a better
business approach to derive the most value from their product portfolios.
Quintiles Transnational is the global leader in pharmaceutical
services. We improve healthcare worldwide by providing innovative, quality
professional expertise, market intelligence and partnering solutions to
meet the dynamic needs of the pharmaceutical, biotechnology and healthcare
industries. Quintiles has 16,000 specialized employees and offices in 50
countries. For more information visit the company's Web site at
http://www.quintiles.com.
About TPG-Axon Capital
TPG-Axon Capital is a leading global investment firm with over $5.8
billion of capital invested in public and private markets around the world.
Through offices in New York City, Hong Kong and Tokyo, TPG-Axon Capital has
invested across a broad range of industries in more than 20 different
countries, including investments in healthcare, pharmaceuticals, financial
services, technology, energy and basic materials and retail.
SOURCE Quintiles Transnational Corp.
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Related links:
http://www.quintiles.com/
CONTACT:
Media, Pat Grebe, +1-919-998-2091, or
media.info@quintiles.com, or Investors, Greg Connors,
+1-919-998-2000, or invest@quintiles.com, both of Quintiles
Transnational Corp.
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