Tag Archives: healthcare

EQT invests in Asia based Health Management International

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  • EQT Mid Market Asia invests in Health Management International, a reputable private healthcare provider with regional presence in Singapore, Malaysia and Indonesia
  • EQT will support Health Management International in realizing its full potential while scaling the Company’s platform in the region, organically and by exploring potential future acquisition opportunities
  • Health Management International was delisted from the Singapore Exchange on 24 December 2019

The EQT Mid Market Asia III fund (“EQT Mid Market Asia” or “EQT”) today announced its investment in Health Management International Ltd (“HMI” or the “Company”).

Founded in 1998, HMI is a regional private healthcare provider with presence in Singapore, Malaysia and Indonesia. The Company is headquartered in Singapore and is led by an experienced management team and has a board with vast experience in developing and growing healthcare businesses in the region. The Company’s two tertiary hospitals in Malaysia, Mahkota Medical Centre and Regency Specialist Hospital, which are known for their clinical quality and breadth of specialties and subspecialties, attract medical tourists from all around Southeast Asia and serve approximately 100,000 international patients per year.

HMI has a strategy of investing in its facilities and service offerings and has further expanded its healthcare platform through investments in the first private one-stop ambulatory care center in Singapore, StarMed Specialist Centre, and a General Practice clinic chain in Singapore, OneCare Medical.

EQT will support HMI in realizing the full potential of its existing healthcare businesses, while investing further in capacity and capabilities. EQT plans to back the Company’s accelerated growth trajectory, both organically and by exploring potential acquisition opportunities. HMI will also be able to leverage on EQT’s deep healthcare sector expertise, global network and vast experience rolling out digitalization initiatives.

The investment in HMI is in line with EQT’s thematic approach. HMI participates in the development, planning and implementation of sustainable strategies and engages in numerous community initiatives which include medical screenings and treatments, promoting wellness and preventive healthcare.

Chin Wei Jia, Group CEO at HMI, commented: “We are excited to welcome EQT as our new partner for the next chapter of HMI’s development. EQT made a strong impression on us from the outset with their strategic approach and deep experience across the various healthcare ecosystems globally. Together, we will be able to accelerate HMI’s growth by focusing on providing quality healthcare to become one of the leading private healthcare providers in the region.”

Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Asia, commented: “HMI is a well-established healthcare group with a high-quality, talented team and a solid track record in the region. EQT is excited to partner with HMI and support the next chapter of its growth journey. Going forward, the joint focus will be on scaling HMI’s operations in the region with its differentiated, passionate and hands-on approach while continuing to deliver high quality healthcare to its customers.”

Contact
Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid Market Asia, +65 6595 1830
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About Health Management International
HMI is a growing regional private healthcare provider with a presence in Singapore, Malaysia and Indonesia. HMI owns two tertiary hospitals in Malaysia, as well as a one-stop ambulatory care centre, healthcare training centre and a stake in a General Practice clinic chain in Singapore. HMI also has a network of representative offices in Indonesia, Malaysia and Singapore. HMI has more than 500,000 patients per annum, with over 200 practicing doctors and 1,800 staff.

More info: www.hmi.com.sg

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EQT invests in SHL Medical, a world-leading provider of drug delivery solutions

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  • EQT acquires minority stake in SHL Medical, a world-leading manufacturer of advanced drug delivery systems such as autoinjectors
  • SHL is a pioneer and technology frontrunner in the self-injection industry, promoting well-being for all by allowing patients to safely self-administer medications at home
  • EQT will support SHL and the management team in its next phase of growth and innovation by leveraging EQT’s healthcare expertise, local angles and digital capabilities

The EQT VIII Fund (“EQT”) today announced that it has entered into an agreement to acquire a minority stake in SHL Medical (“SHL” or “the Company”). SHL was founded in Asia in 1989 with the goal of combining world-class manufacturing in Taiwan with the strengths of international management practices. The Company launched its first autoinjector in 1996 and today, SHL is a world-leading provider of drug delivery solutions.

Headquartered in Switzerland, SHL serves as a partner to global pharmaceutical companies and biotech firms. The Company has a global presence with offices and operations in Europe, Asia and the US, employing approximately 5,000 people worldwide. SHL’s management has been executing a strategic agenda focused around growth, innovation, digitization as well as operational and manufacturing excellence. EQT intends to support SHL in its next development phase, building on the current direction taken by the Company’s management.

SHL’s products enable effective and precise delivery of highly complex biologics and biosimilar drugs to patients worldwide. They empower patients through safe self-administration of medication in the comfort of their homes. Therefore, the investment is in line with EQT’s thematic approach and mindset of making a positive impact in society with everything it does, guided by the United Nations Sustainable Development Goals (SDGs).

Ulrich Faessler, CEO of SHL, commented: “We are excited to have EQT as our new shareholder and look forward to working together in the next development phase of SHL. EQT’s entrepreneurial heritage and investment approach are a great cultural fit for SHL. Together, we will continue to build and grow the company in order to provide the best solutions for our customers.”

Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, added: “We are impressed by SHL’s entrepreneurial spirit and the management team’s achievements in growing the firm into an industry leader with deep innovation and manufacturing capabilities. EQT looks forward to working together with SHL’s management team in this attractive growth investment opportunity.”

The proposed transaction is subject to customary regulatory approvals.

With this transaction, EQT VIII is expected to be 70-75 percent invested.

Contacts
Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, +49 89 25 54 99 0
EQT Press office, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About SHL Medical
SHL Medical designs, develops and manufactures advanced drug delivery devices, such as autoinjectors, pen injectors and advanced inhaler systems, and provides final assembly, labeling, and packaging services for pharma and biotech companies worldwide. Headquartered in Switzerland with locations in Taiwan, Sweden and the US, our experienced engineers and designers develop product enhancements as well as breakthrough drug delivery and patient care solutions for pharma and biotech clients globally. Significant investment in R&D has enhanced our broad pipeline of next-generation drug delivery systems that support ongoing innovations in drug development and digital healthcare. This includes advanced reusable and disposable injectors that can accommodate high volume and high viscosities and can be enhanced through digital implementations.

More info: www.shl.group
Follow SHL Medical on Twitter and LinkedIn

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EQT Infrastructure enters into a Scheme Implementation Agreement with Metlifecare

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  • Asia Pacific Village Group Limited (“APVG”), an entity owned by EQT Infrastructure IV fund and managed by EQT Fund Management S.à r.l. (“EQT Infrastructure IV”) has entered into a Scheme Implementation Agreement (“SIA”) with Metlifecare, to acquire 100% of Metlifecare shares by way of a scheme of arrangement (“Scheme”), subject to certain conditions.
  • Transaction consideration of NZ$7.00 per share (“Offer Price”), giving a total consideration of approximately NZ$1.5 billion (“Consideration”).
  • Offer Price represents a premium of 38% to Metlifecare’s closing share price of NZ$5.08 per share on 19 November 2019, the closing price prior to the announcement of EQT Infrastructure IV initial indicative non-binding offer, and represents a 1.0x P / NTA[1].
  • APVG has entered into a voting deed with Metlifecare’s largest shareholder, New Zealand Superannuation Fund Nominees Limited (“NZSF”), which holds 19.86% of Metlifecare’s shares.
  • Certain other Metlifecare shareholders collectively representing approximately 22% of the register have indicated to EQT Infrastructure IV their current intention to vote in favor of the Scheme, in the absence of a superior proposal.

Auckland, New Zealand. APVG, an entity owned by EQT Infrastructure IV has entered into a Scheme Implementation Agreement (“SIA”) with Metlifecare, to acquire 100% of Metlifecare shares by way of a scheme of arrangement (“Scheme”), subject to certain conditions.

APVG has entered into a voting deed with Metlifecare’s largest shareholder, New Zealand Superannuation Fund Nominees Limited (“NZSF”), which holds 19.86% of Metlifecare’s shares.  Under the voting deed NZSF has agreed, among other things, to vote in favour of the Scheme subject to certain terms and conditions.  A copy of that voting deed has been released to the market through the substantial product holder notice issued by APVG and EQT Infrastructure IV.

In addition, Metlifecare shareholders collectively representing approximately 22% of the register have indicated to EQT Infrastructure IV their current intention to vote in favour of the Scheme, in the absence of a superior proposal.

Metlifecare is a leading New Zealand owner and operator of retirement villages, providing rewarding lifestyles and outstanding care to more than 5,600 New Zealanders. Established in 1984, it currently owns and operates a portfolio of 25 villages in areas with strong local economies, supportive demographics and high median house prices, located predominantly in New Zealand’s upper North Island.

EQT is a differentiated global investment organization that invests in good companies across the world with a mission to help them develop into great and sustainable companies. By providing access to ownership skills and operational expertise, EQT helps acquired companies grow and prosper. Development and growth are at the core of the value creation, with digitalization and sustainability being key future-proofing drivers. Portfolio companies owned by the funds of EQT have, on average, increased sales by 12%, the number of employees by 10% and profitability by 11% per annum during the funds’ ownership.

Fabian Gröne, Partner at EQT Partners and Investment Advisor to EQT Infrastructure IV, said: “We are delighted about the opportunity to partner with Metlifecare and are fully committed to supporting Metlifecare and its management team to embark on this exciting journey to develop and operate high-quality retirement villages and continue to provide the exceptional care to New Zealanders which Metlifecare is known for.”

EQT Infrastructure IV will be funding the Consideration and has total committed capital of EUR 9 billion.

The transaction will be implemented by a scheme of arrangement, a court-supervised process under which a meeting of shareholders will be held to vote on the transaction.

Scheme Implementation Agreement

The Scheme is subject to customary conditions including shareholder approval, High Court approval and Overseas Investment Office consent and no Material Adverse Change (as defined in the SIA). It is currently contemplated that the Scheme will be implemented in May 2020.

The Scheme also contains customary exclusivity provisions in favour of APVG, including “no shop, no talk and no due diligence” restrictions. These restrictions are subject to exclusions which permit the Metlifecare Board to engage on a competing proposal which is (or is reasonably capable of becoming) a superior proposal, subject to prior notifications being made to EQT Infrastructure IV and to EQT Infrastructure IV’s right to match any such proposal.

EQT Infrastructure IV is being advised by Goldman Sachs and Bell Gully.

With this transaction, EQT Infrastructure IV is expected to be 55-60 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), subject to shareholder and Court approval.

Contact
International media inquiries: EQT Press Office press@eqtpartners.com +46 8 506 55 334
New Zealand media inquiries: David Lewis david@thompsonlewis.co.nz +64 21 976 119
Australian media inquiries: Jim Kelly jim@domestiqueconsulting.com.au +61 412 549 083

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

EQT has extensive experience and an excellent track record in the healthcare sector and is one of the largest private equity investors in the healthcare sector in Europe with an unparalleled network of advisors within the EQT Network. Some of EQT’s notable investments in the sector include Charleston, a buy-and-build strategy in the German nursing home care market, and I-MED, a leading diagnostic imaging provider in Australia.

More info: www.eqtgroup.com
Follow EQT on Twitter and Linkedin

About Metlifecare
Metlifecare is a leading New Zealand owner and operator of retirement villages, providing rewarding lifestyles and outstanding care to more than 5,600 New Zealanders. Established in 1984, it currently owns and operates a portfolio of 25 villages in areas with strong local economies, supportive demographics and high median house prices, located predominantly in New Zealand’s upper North Island.

More info: www.metlifecare.co.nz

[1] Net Tangible Assets (“NTA”) of NZ$6.96 per share as of 30 June 2019.

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Metro Pacific Hospitals Completes Investment by KKR

KKR

MANILA, Philippines–(BUSINESS WIRE)–Dec. 8, 2019– Metro Pacific Investments Corporation (“MPIC”) (PSE: MPI), global investment firm KKR, and GIC, Singapore’s sovereign wealth fund, today announced the completion of investments in Metro Pacific Hospital Holdings, Inc. (“Metro Pacific Hospitals” or the “Company”) by KKR and an affiliate of GIC (“GIC”). These were made through a series of transactions in common shares in Metro Pacific Hospitals and in mandatorily exchangeable bonds issued by MPIC.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191208005083/en/

Proceeds from the sale of shares in the Company will be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates, and joint ventures.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenues, with interests in 14 hospitals and approximately 3,200 beds across the country. The Company is focused on delivering high-quality healthcare solutions to patients at a time when more Filipinos are seeking premium medical services, driven by rising per capita incomes and rapid urbanization.

Manuel V. Pangilinan, Chairman of MPIC and Metro Pacific Hospitals, said, “We welcome KKR and GIC as investors who not only have established track records of helping healthcare companies to meet their growth ambitions, but also have full confidence in Metro Pacific Hospitals’ potential to provide even more critical healthcare services to patients across the Philippines. Today marks the start of a new and exciting chapter for Metro Pacific Hospitals.”

Augusto P. Palisoc Jr., President & CEO of Metro Pacific Hospitals, added, “The Philippine healthcare industry is poised for tremendous growth given the increasing demand for hospitals, clinics, and facilities that provide premium medical services. With this new investment, coupled with the expertise that KKR and GIC bring to Metro Pacific Hospitals, we will be in an even stronger position to meet patients’ needs and capture new opportunities through organic expansion, acquisitions and investments, and the adoption of new technologies.”

Jose Ma. K. Lim, President and CEO of MPIC, said, “The MPIC team is proud of Metro Pacific Hospitals and is pleased to have created and grown one of the largest and strongest hospital groups in the Philippines. We anticipate Metro Pacific Hospitals will continue to go from strength to strength alongside KKR and GIC, and we look forward to continuing our long-term partnership with the whole Metro Pacific team.”

Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, said, “Metro Pacific Hospitals is a world-class healthcare institution with a terrific team of doctors and medical practitioners who play a critical role in the lives of millions. We are excited to begin our work alongside this excellent team and look forward to supporting Metro Pacific Hospitals’ continued growth and development for healthcare providers and patients in the years to come.”

KKR made its investment from its flagship Asian Fund III.

About Metro Pacific Investments Corporation

Metro Pacific Investment Corporation is a publicly-listed, infrastructure investment firm in the Philippines, with holdings in Manila Electric Company, Global Business Power, Maynilad Water Services, Inc. and Metro Pacific Tollways Corporation. MPIC also holds investments in MPHHI, the Light Rail Manila Company and Metropac Movers Inc.

About Metro Pacific Hospital Holdings, Inc.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenue, with interests in 14 hospitals nationwide, including eight hospitals in Metro Manila. The Company also has interests in an eight primary care clinics and eight cancer care centers, among other investments in allied healthcare services.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide.

For more information about GIC, please visit www.gic.com.sg or follow us on LinkedIn.

Source: KKR

Media:

For MPIC & Metro Pacific Hospitals:

David J. Nicol
EVP & Chief Financial Officer
Tel: +632 8888 0888

Augusto P. Palisoc, Jr.
CEO of MPHHI
Tel: +632 8888 0888

Melody M. Del Rosario
VP, PR & Corp. Comms.
Tel. +632 8888 0888

For KKR:

KKR Asia Pacific
Anita Davis
+852 3602 7335
anita.davis@kkr.com

KKR Americas

Kristi Huller & Cara Major
+1 212 750 8300
media@kkr.com

For GIC:

Mah Lay Choon
Senior Vice President
Corporate Affairs & Communications
+65 6889 6841
mahlaychoon@gic.com.sg

Wei Jun Ong
Associate
Corporate Affairs & Communications
+65 6889 8340
ongweijun@gic.com.sg

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EQT to sell Clinical Innovations

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  • EQT Mid Market US and EQT Mid Market Asia III to sell Clinical Innovations, a leading global provider of medical devices for Labor & Delivery and Neonatal Intensive Care, to LABORIE for an Enterprise Value of USD 525m
  • During EQT’s ownership, Clinical Innovations has successfully transitioned from a distributor sales model to a direct sales force in select key markets, broadened its product portfolio in the Neonatal Intensive Care segment through product acquisitions and established a foothold in China

The EQT Mid Market US fund and the EQT Mid Market Asia III fund (jointly “EQT”) have entered into an agreement to sell Clinical Innovations (the “Company”) to LABORIE Medical Technologies (“LABORIE”) for an Enterprise Value of USD 525m. The EQT Mid Market US fund is the majority owner of Clinical Innovations.

Founded in 1993 and headquartered in Salt Lake City, Utah, Clinical Innovations is a leading global provider of medical devices for Labor & Delivery and Neonatal Intensive Care. The Company’s products, which include the Kiwi® Vacuum-Assisted Delivery System, Koala® Intrauterine Pressure Catheter and ebb® Complete Tamponade System, are used by clinicians in more than 90 countries to improve the lives of mothers and babies. Clinical Innovations also added SweetUms sucrose solution and the BoogieBaby oral and nasal suction device to its growing NICU product lineup earlier in December this year. Clinical Innovations operates a manufacturing facility in Utah and has approximately 250 employees around the world.

Together with the management team, EQT has supported Clinical Innovations in successfully transitioning from a distributor sales model to a direct sales force in select key markets, including parts of the United States, Western Europe and Australia. During EQT’s ownership, the Company has also successfully established a foothold in China and broadened its product portfolio within Neonatal Intensive Care.

“With the support of EQT, Clinical Innovations has significantly grown its global footprint and strengthened its product offering,” said Ken Reali, President and CEO of Clinical Innovations. “We look forward to continuing our growth journey with LABORIE and are confident that, together with our new partners, we will be well positioned to further positively impact mothers, babies and healthcare professionals on a large scale.”

“Clinical Innovations and the global network of clinicians who rely on its devices every day are crucial contributors to the health of mothers and babies,” said Brendan Scollans, Partner at EQT Partners and Investment Advisor to EQT Mid Market US. “We have been proud to support the development and growth of the company in partnership with the management team and look forward to following its continued success.”

“During EQT’s ownership, Clinical Innovations has strengthened its direct local presence in China, positioning the Company to capture future growth in one of the most promising markets,” said Jerry He, Partner at EQT Partners and Investment Advisor to EQT Mid Market Asia III. “LABORIE is a strong strategic fit for Clinical Innovations and we are confident that they will be an excellent partner for the Company.”

The transaction is subject to customary approvals and is expected to close in early 2020.

Moelis & Company LLC acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor to EQT and Clinical Innovations.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About Clinical Innovations
Founded in 1993, Clinical Innovations is one of the largest medical device companies exclusively focused on labor and delivery and neonatal intensive care. The company is a market-leader in several categories with products such as the Kiwi® Vacuum-Assisted Delivery System, SweetUms sucrose solution, BoogieBaby oral and nasal suction device, Koala® Intrauterine Pressure Catheter, ROM Plus® Rupture of Membranes Test, traxi® Panniculus Retractor, ClearView® Uterine Manipulator, ebb® Complete Tamponade System and the babyLance™ Safety heel stick. Clinical Innovations is expanding its global presence while directly researching and developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world. For more information, visit clinicalinnovations.com.

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Exicure Announces Pricing of $27.5 Million Public Offering of Common Stock

Abingworth

CHICAGO & CAMBRIDGE, Mass.–(BUSINESS WIRE)–Dec. 19, 2019– Exicure, Inc. (Nasdaq: XCUR), a pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical nucleic acid (SNA™) constructs, today announced the pricing of the previously announced underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $2.75 per share. Exicure has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock to cover overallotments, if any, at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 23, 2019 subject to customary closing conditions.

Exicure expects to receive gross proceeds of $27.5 million from the sale of common stock in the offering, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by it. Exicure intends to use the net proceeds from the offering to advance AST-008 through a Phase 1b/2 clinical trial; to initiate a second arm in its Phase 1b/2 clinical trial in cutaneous squamous cell carcinoma; to develop an SNA-based therapeutic candidate for the treatment of Friedreich’s ataxia, initiate IND-enabling studies and advance it into Phase 1 clinical trials; to develop a second SNA therapeutic candidate for a neurology condition and initiate IND-enabling studies; and for general corporate purposes.

Guggenheim Securities is acting as sole book-running manager for the offering. Chardan is acting as lead manager for the offering. H.C. Wainwright & Co. and Ladenburg Thalmann are acting as co-managers for the offering.

The securities described above are being offered by Exicure pursuant to a shelf registration statement on Form S-3 (No. 333-230175) that was declared effective by the Securities and Exchange Commission (SEC) on July 24, 2019. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website located at www.sec.gov. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained, when available, from: Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About Exicure, Inc.

Exicure, Inc. is a clinical-stage biotechnology company developing therapeutics for immuno-oncology, inflammatory diseases and genetic disorders based on our proprietary Spherical Nucleic Acid, or SNA technology. Exicure believes that its proprietary SNA architecture has distinct chemical and biological properties that may provide advantages over other nucleic acid therapeutics and may have therapeutic potential to target diseases not typically addressed with other nucleic acid therapeutics. Exicure’s lead program is in a Phase 1b/2 trial in patients with advanced solid tumors. Exicure is based outside of Chicago, IL and in Cambridge, MA.

Exicure Forward Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning the Company, the Company’s technology, potential therapies, cash requirements and other matters as well as statements regarding the Company’s intention to conduct an offering and sale of securities, the size of the offering, the completion of the offering and the expected use of proceeds from the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: unexpected costs, charges or expenses that reduce cash runway; that Exicure’s pre-clinical or clinical programs do not advance or result in approved products on a timely or cost effective basis or at all; the cost, timing and results of clinical trials; the ability to enroll patients in clinical trials; possible safety and efficacy concerns; regulatory developments; and the ability of Exicure to protect its intellectual property rights. Risks facing the Company and its programs are set forth in the Company’s filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement (including without limitation its cash runway guidance) or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Exicure, Inc.

MacDougall
Karen Sharma
781-235-3060
ksharma@macbiocom.com

 

 

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Median Technologies announces the signing of a € 35 million finance contract with the European Investment Bank (EIB)

Abingworth

18 December 2019, Sophia Antipolis, France – Brussels, Belgium

Press release – For immediate release – 05:45pm CET

 Median Technologies announces the signing of a € 35 million finance contract with the European Investment Bank (EIB)

  • This finance contract will enable Median Technologies to accelerate its investment program for the iBiopsy® imaging phenomics platform
  • Median expects the disbursement of the first tranche of € 15 million during the first semester of 2020

Median Technologies, The Imaging Phenomics Company (Euronext Growth – ALMDT) and the European Investment Bank (EIB) announced today the signing of a € 35 million finance contract, supported by the European Strategic Investment Fund (EFSI) or “Juncker Plan”. News about ongoing negotiations for this loan was previously released on May 15, 2019.

This financing, divided into three (3) tranches, will enable Median Technologies to enhance and accelerate its iBiopsy® imaging platform investment program for the coming years. Median is a cutting-edge AI and data sciences technology provider for precision medicine. Through its proprietary iBiopsy® platform, Median is developing non-invasive imaging biomarkers to enable the identification of certain chronic disease – including cancer- signatures, to dramatically enhance early detection, severity quantification and monitoring of diseases. The objective is on one hand to guide clinicians in their therapeutic decisions in the context of precision and predictive medicine and, on the other hand, to provide disruptive decision tools to foster medical innovations and new therapy development.

Median will request the disbursement of the first tranche of € 15 million during the first semester of 2020. The contract then provides for the disbursement of the second and third tranches (of € 10 million each) in the coming years, at Median Technologies’ discretion, subject to the completion of certain conditions precedents specified in the finance contract. The repayment of this financing will occur, in a single installment, at the end of a five -year period after the disbursement date. The finance contract is supplemented by the payment of various interests and fees and by a guarantee granted by Median Technologies, Inc. (Median Technologies’ US subsidiary).

Pursuant to the warrants issuance agreement, Median Technologies will issue 800,000 warrants for the benefit of the EIB on the date of disbursement of the first tranche and, where appropriate, 300,000 additional warrants on the date of disbursement of the second tranche, at a subscription price of € 0.01. The exercise price of these warrants  will be determined based on the price of one or more fundraising(s) of at least € 15 million carried out within 15 months after the subscription date to which an increasing discount will apply based on time, with a minimum of € 2 from the 16th month. The lifespan of these warrants is 15 years.

The warrants issuance agreement includes an exercise parity adjustment clause which could apply, under certain conditions,in case of capital increase. The EIB will be granted with the possibility, under certain conditions, to request Median Technologies to buy back its warrants for a maximum amount of € 50 million and, beyond that amount, to find a buyer and pay interests on the price of the remaining warrants. The total amount of warrants (for the two tranches) would represent up to 7.44 % of the share capital fully diluted.

The objective of this financing, granted by the EIB together with the European guarantee within the framework of the Juncker plan, is to support research and innovation projects developed by companies with substantial growth potential. Median Technologies meets these criteria as its technologies have the potential to impact the lives of hundreds of thousands of patients worldwide.

The agreement was signed by the European Investment Bank and Fredrik Brag, CEO and co-founder of Median Technologies on December 18, 2019.

“Through the Juncker Plan impulse, EIB has become a key player in financing innovative companies, in particular companies involved in the domains of Health and Artificial intelligence, which are the core activities developed by Median Technologies “, said EIB Vice-President, Mr. Ambroise Fayolle

Fredrik Brag, CEO and co-founder of Median Technologies added: “We are very pleased to announce the signing of the finance agreement with the European Investment Bank. The EIB financing will allow us to accelerate our investment in the development of our iBiopsy® platform with a strong focus in oncology and liver disease. We are the next generation precision medicine company focused on helping conquer cancer and other diseases through our proprietary routine imaging tests.  These novel non-invasive imaging tests could dramatically impact early detection, diagnosis and monitoring of diseases.  We leverage our capabilities in technology, artificial intelligence, clinical development, regulatory and reimbursement to drive the development and commercial adoption of our future iBiopsy® product line, improve patient clinical outcome and lower healthcare costs.”     

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although Median’s management believes that the expectations reflected in such forward looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Median, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities such as the absence of guarantee that the service if approved will be commercially successful, the future approval, Median’s ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, risks associated with intellectual property, trends in exchange rates and prevailing interest rates, volatile economic conditions, the impact of cost containment initiatives and subsequent changes thereto, the average number of shares  outstanding as well as those discussed or identified in the public filings with the AMF made by Median, other than as required by applicable law, Median does not undertake any obligation to update or revise any forward-looking information or statements.

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About Median Technologies

Median Technologies provides innovative imaging solutions and services to advance healthcare for everyone. We leverage the power of Imaging Phenomics to provide insights into novel therapies and treatment strategies. Our unique solutions for medical image analysis and management in oncology trials and iBiopsy® for imaging phenotyping, together with our global team of experts, are advancing the development of new drugs and diagnostic tools to monitor disease and assess response to therapy. Median Technologies supports biopharmaceutical sponsors and healthcare professionals around the world to quickly and precisely bring new treatments to patients in need. This is how we are helping to create a healthier world.

Founded in 2002, based in Sophia-Antipolis, France, with a subsidiary in the US and another one in Shanghai, Median has received the label “Innovative company” by the BPI and is listed on Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT).

Contacts

Median Technologies

Emmanuelle Leygues
Head of Corporate Communications
+33 6 10 93 58 88
emmanuelle.leygues@mediantechnologies.com

Actifin  (Investors)

Ghislaine Gasparetto
+33 1 56 88 11 11
ggasparetto@actifin.fr

Alizé RP  (Press)

Caroline Carmagnol
+33 6 64 18 99 59
median@alizerp.com

About the European Investment Bank (EIB) and the Juncker Plan

Created by the Treaty of Rome in 1958, the EIB is the EU bank, which, together with its dedicated SME support subsidiary the European Investment Fund (EIF), forms the EIB Group. The EIB Group provides its financing and know-how for sound and sustainable investment projects meeting EU objectives.

Supported by its expertise and the financial attractiveness lent by its AAA rating, the EIB Group is a key player in getting investment back on track in Europe. It supports the real economy while also attracting other investors by financing concrete projects with an impact on people’s lives. EUR 8.6bn of new financing was allocated to support high quality growth and job driving projects in France in 2017.

Website: www.eib.org/press

The Investment Plan for Europe:  the so-called Juncker Plan, is one of Jean-Claude Juncker’s top priorities. It focuses on boosting investments in Europe to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing greater visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe, enables the EIB Group to invest in more, often riskier, projects with high added value. EFSI is already showing concrete results. The projects and agreements approved for financing under EFSI so far have mobilised EUR 408.4bn in investments, of which EUR 69bn is in France. The plan is supporting around 952 000 SMEs across all 28 Member States.

Contacts

Cyrille Lachèvre
+ 33 (0)6 20 42 12 08
c.lachevre@ext.eib.org

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paraDIGMA Group and BlijWerkt Announce Collaboration with Support from Mentha Capital

Mentha Capital

paraDIGMA Group and BlijWerkt are to enter into collaboration and will form a new group. Investor Mentha Capital will take a majority stake in the combination of the two service providers which operate in the field of sustainable employability and provide employment to over 400 employees. The transaction is subject to the approval of the Dutch Healthcare Authority (NZa).

The collaboration creates a strong and fast-growing combination which challenges the established order with its innovative methods. The combination offers a wide range of services where an integral approach and personal approach are central. The two companies already have 500,000 affiliated employees throughout the country. Customers will benefit from the complementary service package of both companies and the focus on sharing knowledge and capacity.

paraDIGMA Group is a fast-growing group of companies operating in the field of sustainable employability. Its occupational health and safety services provider Argo Advies takes a unique approach to absenteeism, leading to progressive and highly effective absenteeism and health policies within organizations. The group also offers psychological interventions, outplacement and reintegration, labour research and advice, and business training. The paraDIGMA Group was founded in 2000 by Rudo Vissers. Mr Vissers will stay on as director and remain a shareholder in the combination.

BlijWerkt is an occupational health and safety service currently under the control of investment company Gilde Healthcare. It has become a successful, leading and nationally operating player where personal attention to its clients is central.

Mentha Capital will take over the shares in both companies from the current shareholders. Mentha invests in established, profitable companies which demonstrate clear potential for further expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participations, active in various end-markets.

Rudo Vissers of paraDIGMA Group: “We are very pleased to have taken this step. The result is a unique and very solid company with a strong position in the market and major social significance. We continue to look at sustainable employability from the perspective of leadership and culture in organizations, reinforced by a high-quality medical base.”

Ruud Pels, BlijWerkt: “I am grateful to Gilde for having supported the development of our company. I look forward to working with Mentha and the paraDIGMA Group. Utilizing the expertise of the paraDIGMA Group in areas in which we at BlijWerkt are less active, enables us to serve our customers even better in the future.”

Barend Rutten, Mentha Capital: “Sustainable employability is an increasingly important theme for companies and society where the demand for effective and innovative service is increasing. By joining forces, paraDIGMA and BlijWerkt can further improve the quality and service they provide to customers and lay a solid foundation for further growth.

Gilde Healthcare reflects with satisfaction on its involvement with BlijWerkt: “as a sector specialist with an active growth strategy we have been able to add a lot of value to our investment in BlijWerkt,” commented Hugo de Bruin, partner at Gilde Healthcare, “we are convinced BlijWerkt will continue its succesful strategy together with paraDIGMA Group in the years to come.”

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Bassem Saleh appointed new CEO of TFS

Ratos

Bassem Saleh has been appointed new CEO of TFS. Bassem is Chief Medical Officer at TFS and Executive Vice President of Clinical Development Services, the largest Business Area at TFS. He will assume his role as CEO today, 17 December. János Filakovský is stepping down from his position as CEO and leaving the company.

Bassem Saleh has solid executive leadership skills and long industry experience from both CROs (Contract Research Organisations) and Biopharma including Premiere Research, ICON, PRAHS and Chugai (Roche group). Most recently Bassem has been heading up TFS largest Business Area Clinical Development Services (CDS) with strong results and is an appreciated leader in the company. Bassem is a medical doctor specialized in Pharmaceutical Medicine and Oncology.

“Bassem has impressed the board of TFS with the results he has delivered in the business. He is an appreciated leader at TFS and with his background from the industry we believe he is an ideal person to further develop TFS as CEO. We thank János for his contributions to TFS,” says Jonas Wiström, CEO of Ratos and Business Area President Industry.

Ratos became an owner of TFS in 2015. On behalf of its customers, the company conduct clinical trials in more than 40 countries worldwide and works with a broad international customer base of leading research companies. Revenues for the rolling 12 months at 30 September 2019 amounted to 86.0 MEUR and EBITA was 1.8 MEUR.

 

For further information, please contact:
Jonas Wiström, President and CEO, Ratos, +46 8 700 17 00
Per Magnusson, Chairman TFS and Director Operations, Ratos, +46 70 676 64 26
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50

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Ampersand Capital Partners Acquires Peptides International And Merges Company With New England Peptide

WELLESLEY, Mass., GARDNER, Mass. and LOUISVILLE, Ky., Dec. 16, 2019 /PRNewswire/ — Ampersand Capital Partners announced today that it has completed the acquisition of Peptides International and merged it with existing portfolio company New England Peptide. This merger brings together two leading providers of peptide synthesis services as well as a broad catalog of unique peptide products to assist in drug discovery and diagnostic product development endeavors around the world.

Based in Louisville and founded in 1983, Peptides International is a global leader in catalog and custom peptide production, providing high-quality synthesis services to an extensive range of pharmaceutical, biotech, and other life science customers. Peptides International is specialized in addressing the most complex peptide projects and offers customers full chemical optimization and scale-up services.

“New England Peptide is excited to announce that in our 20th year as a custom peptide synthesis company, we have merged with Peptides International,” said Sam Massoni, CEO of New England Peptide. “This transaction adds meaningful scale, capabilities, customer relationships, and a similarly strong market reputation to what we have built at New England Peptide.”

Jackie Spatola, current CEO of Peptides International added: “Ampersand Capital’s acquisition of PI enables high-quality custom peptide market development, which fortifies our 35-year-old company’s world leader strategy and position. We look forward to offering even better services to our worldwide customer base through working with New England Peptide.”

José de Chastonay, Chairman of the Board added: “Whereas New England Peptide has a leading position in manufacturing thousands of small-scale peptides and antibody related services, Peptides International is best known for making larger-scale quantities of high-quality custom peptides and for maintaining a unique catalog of off-the-shelf products. The combination of the two companies creates a comprehensive, “one-stop-shop” for non-GMP peptides.”

“Ampersand’s goal with our original investment in New England Peptide earlier this year was to build a world-class leader in peptide synthesis services, and this transaction furthers that goal,” stated Eric Lev, Partner at Ampersand. “Ampersand looks forward to working with the management team in the next phase of organic and inorganic growth as the company strives to provide industry-leading peptide solutions to the biotechnology, pharmaceutical, and academic markets.”

About New England Peptide

Established in 1998, New England Peptide designs and manufactures peptide and antibody solutions for drug, vaccine and diagnostic development organizations worldwide. Headquartered in Gardner, MA, the company specializes in custom peptide synthesis, polyclonal antibody production, stable-labeled bioanalytical peptide standards, and catalog peptide products. New England Peptide operates in a 25,000 square foot facility with significant laboratory space to service all customer and regulatory requirements. Additional information about New England Peptide is available at www.newenglandpeptide.com.

About Peptides International

Peptides International, headquartered in Louisville, Kentucky, specializes in manufacturing and distributing high purity, biologically active peptides, enzyme substrates and inhibitors, innovative polymers and related products, and custom peptide synthesis services to life sciences and research institutions throughout the world. Founded in 1983, the company operates out of a 12,000 square foot facility certified to ISO 9001:2015. Additional information about Peptides International is available at www.pepnet.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. Additional information about Ampersand is available at ampersandcapital.com.

Related Links
http://ampersandcapital.com

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