News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Cytovance Biologics Adds Bernhard Hampl, Ph.D., as Co-Chairman


4/20/2011 1:33:39 PM

GREENWICH, CT and OKLAHOMA CITY, OK – Great Point Partners I portfolio company, Cytovance Biologics, Inc (“Cytovance”), today announced the appointment of Bernhard Hampl, Ph.D., the former CEO of Eon Labs and the Sandoz US-division of Novartis, as Co-Chairman of Cytovance Biologics. Dr. Hampl joined Eon as CEO and President in 1996 and led Eon’s transformation from a small niche player into one of the most successful US pharmaceutical companies by 2005 when it was acquired by Novartis. During the period he was CEO, Eon’s revenue grew from $20 million to $435 million.

Darren Head, CEO of Cytovance indicated, “Cytovance has been experiencing rapid business growth and the equity financing from Great Point Partners puts additional muscle on an already strong balance sheet that has no debt. As we expand our capabilities and facility in biologics contract manufacturing in both mammalian and microbial cell cultures for proteins and antibodies in the U.S. and internationally, we wanted to add an admired executive with global biologics and biosimilar manufacturing and marketing expertise. We are honored to have Dr. Hampl as Co- Chairman.”

Dr. Hampl added, “Cytovance is committed to providing the highest quality contract biologics manufacturing services and delivering real value to their customers. I am excited to become both the Co-Chairman and an investor in Cytovance.”

Jeffrey R. Jay, M.D. Managing Director of Great Point Partners said, “As a long time Board member at Eon Labs, I witnessed Dr. Hampl’s ability to build an outstanding management team, implement and execute an organic growth strategy and increase shareholder value. In fact, after the Eon IPO in 2001, the share price increased four-fold over the next three and a half years.”

About Cytovance Biologics

Cytovance Biologics is a biopharmaceutical contract manufacturing company specializing in the production of therapeutic proteins and antibodies from both mammalian cell culture and microbial fermentation. In addition to its cGMP manufacturing services, the company offers process development, cGMP cell banking and support services from its Oklahoma City, Oklahoma facilities. The company’s approach couples considerable client-side experience with the technical and operational expertise. We place significant value on customer service through communication, collaboration and flexibility. Our customers receive unparalleled services that meet regulatory standards and facilitate efficient completion of clinical development. For more information on Cytovance, visit www.cytovance.com.

About Great Point Partners, LLC

GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $450 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including behavioral health, biologics manufacturing, biotechnology and life sciences, health care services, hospital outsourcing, information technology, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com


Read at BioSpace.com


comments powered by Disqus
   

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