Radient Pharmaceuticals Chinese Pharma Division Has Put in Place a Strategic Advisory Agreement With Security Research Associates Inc. to Assist With the Sale or Financing of Jade Pharmaceutical, Inc.
Published: Dec 18, 2009
TUSTIN, CA--(Marketwire - December 18, 2009) - US-based pharmaceutical company Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today its China-based subsidiary Jade Pharmaceutical, Inc. ("JPI"), of which RPC owns approximately 98%, has signed a strategic advisory agreement with Security Research Associates, Inc. ("SRA").
Under the terms of the agreement, SRA will provide advisory services to RPC for the sale and/or financing of JPI, with the goal of maximizing the monetization of this operating asset. As of RPC's Q309 financial statements, JPI is valued at approximately $20.5 million on RPC's balance sheet.
SRA is a boutique investment banking and capital markets firm that supports fast-growing, publicly-traded companies in the small cap arena. SRA is specifically focused on companies having between a $50 million -- $2 billion market capitalization in the technology, healthcare, consumer and cleantech sectors.
According to Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals Corporation, "We are extremely pleased JPI has retained SRA to assist them in executing a sale or strategic financing, which is currently slated in early FY2010. Our goal is to maximize the monetization of this operating asset on behalf of the shareholders of JPI."
For additional information on Radient Pharmaceuticals or JPI visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Ms. Kristine Szarkowitz at kszarkowitz@Radient-Pharma.com or 1.206.310.5323.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, and premium skin care products.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.