BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Integrated BioPharma, Inc. (INB) Completes Hauser CRO Acquisition


10/19/2005 5:10:55 PM

HILLSIDE, N.J., Sept. 23 /PRNewswire-FirstCall/ -- Integrated BioPharma Inc , announced today that its newly formed subsidiary (InB/Hauser) completed the purchase of substantially all of the assets of Hauser Technical Services Inc (dba Hauser CRO), including substantially all of its laboratories, development and manufacturing facilities and equipment; its intellectual property, including that related to Paclitaxel and other taxanes; goodwill, professional staff and certain of its ongoing contracts. As part of the transaction InB/Hauser also acquired Hauser's rights under a prior contract to receive royalties and other payments from INB's subsidiary, Paxis Pharmaceuticals (Paxis) for Hauser intellectual property used by Paxis in the manufacture of Paclitaxel. Paclitaxel is the first commercial product from Paxis and was launched earlier this summer.

INB CEO E. Gerald Kay noted, "Hauser CRO was the original supplier of Paclitaxel used by Bristol-Myers Squibb for its commercial launch of Taxol more than ten years ago. Our purchase of this business strengthens our presence in the pharmaceutical industry and accelerates our ability to become a significant life sciences company with in-house capability to develop other specialty active pharmaceutical ingredients (APIs) as well as proprietary technologies for other INB companies and third-party clients. The acquisition supports our previously announced strategic plan to diversify through acquisition of related businesses."

INB CFO Eric Friedman commented, "We saw that Hauser CRO achieved nearly $7.0 million in total revenues in 2002, which produced nearly $1.0 million in operating income. Its performance then fell apparently due to problems of its then parent company. Under the INB umbrella we will provide the financial stability and market presence necessary to support current client activities and convince new and returning clients to again rely on Hauser CRO for the laboratory and chemistry expertise they need. We are encouraged by our early efforts to communicate our plans to all former and potential clients that the Hauser CRO is on solid footing and is planning for the future."

About Hauser CRO

Hauser CRO is a world leader in the extraction, isolation, purification and synthetic modification of natural products from plant, marine and microbial sources. Hauser CRO provides research, process development, analytical services, manufacturing, compliance services and consulting to produce compounds from natural raw materials for the pharmaceutical, dietary supplement and fine chemical industries.

Additionally Hauser CRO is experienced at making milligram to multi-kilogram quantities of development candidates, natural and synthetic intermediates and APIs for pre-clinical R&D, and with all phases of clinical trials and commercial use. Hauser CRO has a proven track record in assisting clients with problem-solving expertise well beyond the initial drug discovery stage. In addition, Hauser CRO is the world leader in supplying analytical standards of paclitaxel and related taxanes.

About Integrated BioPharma Inc (INB)

INB serves the pharmaceutical, biotech and nutraceutical industries. INB's biotech subsidiary, NuCycle Therapy, Inc., INB is developing human therapeutics and preventive compounds using a transient gene expression system and transgenic plant technology. INB's pharmaceutical subsidiary, Paxis Pharmaceuticals, Inc., develops and operates a state-of-the-art GMP facility for the production and sale of paclitaxel and related drugs. INB's nutraceutical subsidiary, Manhattan Drug, develops, manufactures and distributes more than 130 products worldwide. Further information is available at http://www.ibiopharma.com/.

Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential risk factors that could affect the company's financial results can be found in the company's reports filed with the Securities and Exchange Commission.

Contact: Michael Mason (investors) Eric Friedman, CFO Allen & Caron Inc Integrated BioPharma Inc 212 691 8087 888 319 6962 michaelm@allencaron.come.friedman@chemintl.com

Integrated BioPharma Inc

CONTACT: Eric Friedman, CFO of Integrated BioPharma Inc,+1-888-319-6962, e.friedman@chemintl.com; or Investors, Michael Mason of Allen& Caron Inc, +1-212-691-8087, michaelm@allencaron.com, for IntegratedBioPharma Inc



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES