RESEARCH TRIANGLE PARK, N.C., May 11 /PRNewswire/ -- Quintiles Transnational Corp. today announced the launch of its expanded strategic partnering group under the NovaQuest(TM) brand and, to further NovaQuest’s mission, an alliance with TPG-Axon Capital, a global investment firm with over $5.8 billion in equity capital. NovaQuest helps life-science companies realize greater value from their product portfolios through innovative strategic partnering solutions.
TPG-Axon, led by the former head of Goldman Sachs’ Principal Strategies Department, Dinakar Singh, will be NovaQuest’s first-line partner for significant co-development and co-promotion investments.
Since 2000, when Quintiles started a formal strategic partnering function, more than $1.5 billion has been invested or committed to Quintiles’ partnerships with companies of all sizes. Within NovaQuest are Quintiles’ key investment partnering functions, including agreement structuring and due diligence (formerly known as PharmaBio Development) and alliance management.
Through its alliance with TPG-Axon, NovaQuest has access to capital to fund strategic partnerships of virtually any size. TPG-Axon already has committed several hundred millions of dollars to NovaQuest partnerships to date.
“NovaQuest’s launch and its alliance with TPG-Axon is confirmation of the power of partnering with Quintiles,” said Quintiles Transnational founder, Chairman and Chief Executive Officer Dennis Gillings, Ph.D., CBE. “Customers can tap into our global development and commercialization infrastructure, deal-making expertise, and financial resources to create tailor-made solutions to their most significant strategic and financial challenges.”
Singh, founder of TPG-Axon, said: “This alliance further enhances TPG- Axon’s ability to find, analyze and act on non-traditional investment opportunities in the life sciences. I believe NovaQuest offers pharma and biotech companies ‘smart money’ - financial solutions backed by Quintiles’ expertise and capabilities in global product development and commercialization. This is a powerful resource for pharma and biotech companies seeking new solutions to major challenges.”
NovaQuest offers partnering solutions in three major categories: - Co-development and co-promotion investments in which NovaQuest invests with cash or Quintiles services, or a combination of both, in a customer’s drug development or commercialization programs. TPG-Axon will be NovaQuest’s partner for investments of this type. - Strategic resourcing to convert fixed-cost assets to variable cost, while giving customers continued access to these assets as needed. This allows companies to advance a single product or an entire portfolio more cost-effectively. - Emerging biotech focused on helping small and medium-sized biotechs access Quintiles as a “virtual infrastructure” for global development and commercialization, often in combination with tailored financial assistance.
NovaQuest has scientific, medical and market intelligence experts who evaluate product or portfolio opportunities; finance and legal experts with proven experience in structuring partnerships tailored to each customer’s specific needs; alliance managers who manage the life-cycle of each partnership; and a group dedicated to serving emerging biotech companies.
NovaQuest will be led by Ron Wooten, Executive Vice President, Corporate Development, Quintiles Transnational, who has overseen the development of Quintiles’ partnering capabilities since joining the company in 2000.
“In less than seven years, we’ve seen partnering grow from a promising concept to a proven strategic option,” Wooten said. “NovaQuest’s launch reflects the maturity of Quintiles’ partnering capabilities, our record of success and increasing demand from customers. Doing business as usual isn’t enough anymore. Customers need alternative growth strategies designed around their specific challenges and goals. NovaQuest is here to provide those solutions.”
About NovaQuest and Quintiles Transnational
NovaQuest, the strategic partnering group of Quintiles Transnational Corp., is dedicated to generating alternative growth strategies for pharmaceutical and biotechnology companies, and offers them a better business approach to derive the most value from their product portfolios.
Quintiles Transnational is the global leader in pharmaceutical services. We improve healthcare worldwide by providing innovative, quality professional expertise, market intelligence and partnering solutions to meet the dynamic needs of the pharmaceutical, biotechnology and healthcare industries. Quintiles has 16,000 specialized employees and offices in 50 countries. For more information visit the company’s Web site at www.quintiles.com.
About TPG-Axon Capital
TPG-Axon Capital is a leading global investment firm with over $5.8 billion of capital invested in public and private markets around the world. Through offices in New York City, Hong Kong and Tokyo, TPG-Axon Capital has invested across a broad range of industries in more than 20 different countries, including investments in healthcare, pharmaceuticals, financial services, technology, energy and basic materials and retail.
Quintiles Transnational Corp.
CONTACT: Media, Pat Grebe, +1-919-998-2091, or media.info@quintiles.com,or Investors, Greg Connors, +1-919-998-2000, or invest@quintiles.com, bothof Quintiles Transnational Corp.
Web site: http://www.quintiles.com//
