RESEARCH TRIANGLE PARK, N.C., Aug. 27 /PRNewswire/ -- NovaQuest has
made a strategic investment in TOPIGEN Pharmaceuticals, Inc., a
clinical-stage biopharmaceutical company specializing in respiratory
disorders. The investment was part of a private placement of C$26 million
(US$25 million) in the Montreal-based company.
Last week's The investment by NovaQuest, the strategic partnering group
of Quintiles Transnational, helps TOPIGEN accelerate its Phase II
lead-product clinical programs. NovaQuest and Quintiles first provided
strategic product development advice to TOPIGEN three years ago; the
relationship has since evolved into an integrated development partnership.
Patricia Lamothe, TOPIGEN's Chief Financial Officer, said: "The ability
to access NovaQuest's clinical expertise and Quintiles' development
capabilities is a tremendous benefit to our company as we continue to
advance our product candidates for significant breakthroughs in the
treatment of respiratory diseases."
NovaQuest Vice President Ben Cons, Ph.D., said: "Having been very
active in 2006, with 16 strategic investments, our focus now is to create
fewer but larger partnerships. We're seeking high potential biotechs --
those with excellent pipelines and strong management teams. Our managed
partnership with TOPIGEN is an example of this.
"We believe that NovaQuest's strong clinical experience and
intellectual capital, backed by Quintiles' global development resources, is
a great fit to help TOPIGEN advance its clinical candidates efficiently and
strategically."
In November NovaQuest made a strategic investment in Canadian biotech
company BioMS Medical Corp. (TSX: MS), a leading developer in the treatment
of multiple sclerosis. For all of 2006, NovaQuest participated as a
minority investor in funding rounds that raised a total of $342 million for
16 emerging biotechnology companies worldwide.
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, including leveraging "virtual
clinical development" models. 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 partnerships have
committed more than $2 billion in capital to pharmaceutical and biotech
companies of all sizes. For more information, please visit
http://www.novaquest.com.
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
pharmaceutical, biotechnology and healthcare industries. With 19,000
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.
SOURCE NovaQuest
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Related links:
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, +1-919-998-2000, both of Quintiles
Transnational Corp.
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