MEZZOVICO/LUGANO, Switzerland, Aug. 22 /PRNewswire/ -- Alpex Pharma (http://www.alpex.com) today announced the closing of a CHF 10.9 million (USD 9 million) Series B financing led by BB Biotech Ventures. Existing investor Signet Healthcare Partners also participated in the financing.
"We are pleased with the addition of BB Biotech Ventures to our shareholder base," said Shahbaz Ardalan, CEO of Alpex. "With the additional funding, we will be able to bring several pharmaceutical products such as orally disintegrating tablets to market. At the same time, we will continue to serve our existing clients by producing the highest quality effervescent disintegrating tablets."
James Gale, Chairman of the Board of Alpex and Managing Director at Signet Healthcare Partners commented, "The profound expertise of Alpex's team and its state-of-the-art manufacturing facilities are a strong basis for success. With the additional capital, we can leverage these factors and, together with our business partners, grow our business with a multitude of new products."
Klaus Breiner, PhD, Partner at BB Biotech Ventures added, "With the new products developed by Alpex, we see great potential to substantially boost its existing high quality manufacturing business. We are convinced that Alpex will expand its leadership in effervescent formulation and manufacturing to the attractive ODT market." Dr. Breiner will join Alpex's board of directors.
About Alpex Pharma
Alpex Pharma is a privately held pharmaceutical and nutraceutical tablet manufacturing company, with strong research & development capabilities. Alpex focuses on effervescent tablets and ODT (Orally Disintegrating Tablets), so-called "fast melt" formulations. The company is using its 6500 square meters, state-of-the-art, GMP compliant manufacturing facilities, with separate pharmaceutical and nutraceutical plants, to produce several marketed ODT and effervescent tablet products for its customers. In addition, it has several new and generic ODT products in development. For more information please visit: http://www.alpex.com.
About BB Biotech Ventures
BB Biotech Ventures is a healthcare-dedicated venture capital fund, focused on companies that develop and market drugs and medical devices. The Guernsey-based fund is advised by the Bellevue Group , which has operations in Kusnacht/Zurich, Switzerland and Boston, MA. The Bellevue Group is one of the largest financial healthcare investors worldwide, investing both private and public equity. Investment vehicles advised by Bellevue Group also include BB BIOTECH and BB MEDTECH. For more information please visit: http://www.bbbiotechventures.com.
About Signet Healthcare Partners
Signet Healthcare Partners, an affiliate of Sanders Morris Harris Group , is a private equity fund that invests in expansion-stage life sciences companies. It's portfolio of specialty pharmaceuticals, pharmaceutical services, and medical device companies are located around the world. Signet led the buyout of Alpex Pharma S.A. from Elan Pharmaceutical Corp plc in 2004. For more information please visit: http://www.signethp.com.