SciClone Pharmaceuticals, Inc. Files S-3 Registration Statement Prospectus Supplement Related to Sigma-Tau Group Transaction
Published: Apr 30, 2012
FOSTER CITY, CA--(Marketwire - April 30, 2012) - SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) today filed a prospectus supplement to a previously effective Form S-3 registration statement, pursuant to which approximately 9.2 million shares of SciClone Common Stock held by certain affiliates of Sigma-Tau were registered for resale under the Securities Act of 1933. SciClone has been advised that the Sigma-Tau affiliates sold approximately 6.3 million shares of the SciClone Common Stock to institutional investors on April 30, 2012 in a privately negotiated transaction. Affiliates of Sigma-Tau agreed not to sell any of the remaining shares included in the registration statement during the next 90 days without SciClone's consent. Thereafter, such affiliates may sell no more than 1 million shares during the subsequent 90 days in the open market without the Company's written consent.
SciClone was not a party to the above-mentioned Common Stock sale transaction and did not receive any proceeds from such sale.
"Sigma-Tau and SciClone have been partners for more than a decade, working together on many activities related to ZADAXIN®," said Friedhelm Blobel, PhD., SciClone President and Chief Executive Officer. "Our multi-year collaboration agreement expired recently, but we continue to have a good and cooperative relationship with Sigma-Tau and friendly personal relationships with many Sigma-Tau personnel which have developed over many years. We are pleased that they could accomplish their objectives in this transaction. And we are very excited to welcome several highly regarded institutional investors as new shareholders of SciClone, broadening significantly our base of institutional investors."
Separately, SciClone announced that it repurchased approximately 650,000 shares of its Common Stock from affiliates of Sigma-Tau pursuant to the Company's previously announced stock repurchase program, under which the Board authorized the repurchase of up to $20,000,000 worth of stock. The per-share price paid by the Company was the same price paid in the privately negotiated sale by Sigma-Tau affiliates. The Company's repurchase plan is still in effect and the Company expects to continue to make purchases under the plan.
SciClone Pharmaceuticals is a revenue-generating, profitable, specialty pharmaceutical company with a substantial commercial business in China and a product portfolio of therapies for oncology, infectious diseases and cardiovascular, urological, respiratory, and central nervous system disorders. SciClone's ZADAXIN® (thymalfasin) is approved in over 30 countries and may be used for the treatment of hepatitis B (HBV), hepatitis C (HCV), as a vaccine adjuvant, and certain cancers according to the local regulatory approvals. Besides ZADAXIN, SciClone markets about 15 mostly partnered products in China, including Depakine®, the most widely prescribed broad-spectrum anti-convulsant in China; Tritace®, an ACE inhibitor for the treatment of hypertension; Stilnox®, a fast-acting hypnotic for the short-term treatment of insomnia (marketed as Ambien® in the US); and Aggrastat®, a recently-launched interventional cardiology product. SciClone is also pursuing the registration of several other therapeutic products in China. SciClone is headquartered in Foster City, California. For additional information, please visit www.sciclone.com.
Ambien, Depakine, Stilnox and Tritace are registered trademarks of Sanofi and/or its affiliates.
Aggrastat is a registered trademark of Medicure International Inc. in the United States, and Iroko Cardio LLC in numerous other countries.
DC Bead is a registered trademark of Biocompatibles UK Limited.
SciClone, SciClone Pharmaceuticals, the SciClone Pharmaceuticals design, the SciClone logo and ZADAXIN are registered trademarks of SciClone Pharmaceuticals, Inc. in the United States and numerous other countries.
Chief Financial Officer