Healthcare Industry News: Noven Pharmaceuticals
News Release - April 13, 2010
Galen Partners Invests in Nautilus Neurosciences, Inc.Funding to Provide Growth Capital for the Launch of CAMBIA(TM)
BRIDGEWATER, N.J., April 13 -- (Healthcare Sales & Marketing Network) -- Nautilus Neurosciences, Inc., a neurology-focused specialty pharmaceutical company headquartered in New Jersey, announced that it received an investment from Galen Partners to support the growth of the company, and the upcoming launch of its first commercialized product, CAMBIA(TM) (diclofenac potassium for oral solution).
"Our investment in Nautilus Neurosciences aligns with our tradition of strategic collaboration and partnership with experienced management teams to help build health care market leaders," said Zubeen Shroff, managing director, Galen Partners. "The launch of CAMBIA represents an opportunity to expand our previous success in specialty pharmaceuticals into the field of neurology." Mr. Shroff and David Azad, principal at Galen Partners, have joined the Nautilus Board of Directors.
Nautilus was established in November 2009 with the acquisition of the migraine treatment CAMBIA and PRO-571, a product-development candidate for the potential treatment of acute pain. The initial funding for Nautilus was provided by Tailwind Capital, a leading private equity firm that invests in growth-oriented middle-market companies in the health care, business services, and media/communications sectors.
"We are preparing to launch CAMBIA in the U.S. market in the first half of 2010 and Galen Partners' investment enables us to maximize this critical company milestone," said James Fares, Chairman and CEO Nautilus Neurosciences. "Over the past six months we have raised approximately $25 million. With the backing of Tailwind, Galen, and our management team, we are confident that Nautilus is poised to become a leading neurology-focused specialty pharmaceutical company."
A novel, water-soluble, buffered diclofenac potassium powder, CAMBIA is the only prescription non-steroidal anti-inflammatory drug (NSAID) available for the acute treatment of migraine with or without aura. Engineered using Dynamic Buffering Technology(TM) (DBT), a patented absorption-enhancing technology developed by APR Applied Pharma Research, S.A., CAMBIA enters a patient's system quickly and readily achieves peak plasma concentrations without increasing the patient's total exposure to diclofenac.
"We are pleased to have Galen Partners join the Nautilus team as a provider of additional capital and partner in building the business," said Douglas M. Karp, managing partner, Tailwind Capital. "Their expertise in building health care companies will help support the launch for CAMBIA, as well as drive long-term growth for the company."
Nautilus Neurosciences, Inc.
Nautilus Neurosciences is a neurology-focused specialty pharmaceutical company committed to providing the healthcare community with medically relevant products and services that directly benefit those affected by neurologic disorders. Nautilus is backed by Tailwind Capital and Galen Partners. For more information, visit www.nautilusneurosciences.com.
Tailwind Capital is a leading private equity firm investing in growth-oriented middle-market companies in the health care, business services, and media/communications sectors. Tailwind partners with management teams to build businesses through organic growth, strategic acquisition, and operational improvement. The firm currently has more than $1 billion under management. Representative Tailwind investments include VersaPharm (generic pharmaceuticals), Aircast (orthopedic devices), Freedom Innovations (prosthetic devices), SDI Health (health care analytics), TowerCo (wireless infrastructure), Archway (marketing logistics), and Trover Solutions (insurance services). For more information, visit www.tailwind.com.
Galen Partners is a leading health care private equity investment firm based in Stamford, Conn. The firm focuses on growth equity investments in health care technology-enabled services, medical devices, and specialty pharmaceutical companies. With nearly $1 billion under management raised through five funds, Galen has invested in more than 70 companies since 1990. Galen's specialty pharmaceutical investments include Acura Pharmaceuticals, Dow Pharmaceutical Sciences (acquired by Valeant Pharmaceuticals in 2008), JDS Pharmaceuticals (acquired by Noven Pharmaceuticals in 2007), and Taro Pharmaceuticals. The firm continues a tradition of strategic collaboration and partnership with its portfolio company management teams to build health care market leaders. For more information, please visit Galen's Web site at www.galen.com.
APR Applied Pharma Research, S.A.
APR Applied Pharma Research S.A. is an independent, international, vertically integrated drug delivery and drug development company in healthcare with registered offices in Switzerland and the U.S. It is focused in the R&D of innovative and patented drug delivery systems as well as innovative pharmaceutical products primarily for oral and topical administration. The APR products and technologies are licensed to third parties for distribution and marketing activities. R&D activities are carried out directly or under contract. APR has signed licensing agreements with pharmaceutical companies in 117 countries worldwide and its sales are almost totally achieved abroad.
For more information about APR, please visit www.apr.ch.
Source: Nautilus Neurosciences
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