SpePharm gets $52 Mn funding
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New York: Paul Capital Healthcare and SpePharm Holding, B.V., the pan-European specialty pharmaceutical company, announced that they have entered into a 10 million pounds revenue interest acquisition financing agreement to fund SpePharm's acquisition of Dantrium for Europe and certain other markets, from Procter & Gamble Pharmaceuticals. At the same time, TVM Capital, Signet Healthcare Partners and Paul Capital Healthcare also announced the closing of a 16 million pounds equity financing round to fund the ongoing growth of SpePharm Holding, B.V. SpePharm's senior management will also participate in this current equity financing. Jean-Francois Labbe, Chief Executive Officer of SpePharm, said, "The investment made by Paul Capital Healthcare and the increased financial commitment of our founding investors TVM Capital and Signet Healthcare Partners will enable SpePharm to accelerate the implementation of its strategy to become a leading pan-European specialty pharmaceutical company. These transactions will provide SpePharm with the resources to complete the build up of our sales and marketing infrastructure." Labbe continued, "Dantrium is a unique product used to treat malignant hyperthermia, a life-threatening reaction to certain gaseous anesthetics. Dantrium's significant clinical benefit fits perfectly with SpePharm's focus on hospital products that provide substantial medical and economic value. Procter & Gamble has established a solid commercial platform for Dantrium, and we believe that SpePharm has the strategy and resources to enhance the product's commercial and clinical value." Dr. Ken Macleod, a partner at Paul Capital Healthcare, said, "We believe that SpePharm's management team has an effective strategy in place to become a leading specialty pharmaceutical company, meeting the needs of patients and physicians throughout Europe. Paul Capital Healthcare's investment in SpePharm is consistent with the Fund's mission to provide growth capital to innovative companies." James Gale, a founding partner and Managing Director of Signet Healthcare Partners Commented, "The Fund's financial commitment to the Company validates the substantial business opportunity for a pan-European specialty pharmaceutical company. SpePharm is taking a leadership position in the market for important therapeutic products with annual sales below 100 million pounds, which is underserved by large pharmaceutical companies."

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