Participates in Funding That Raises $342 Million Total to Advance New Medicines
RESEARCH TRIANGLE PARK, N.C., Jan. 8 /Xinhua-PRNewswire/ -- NovaQuest, the strategic partnering group of Quintiles Transnational Corp., continues to be a leader in providing funding, strategic expertise and management services to emerging biotechnology companies worldwide, forming 16 such alliances through its investments in 2006.
NovaQuest participated as a minority investor in funding rounds that raised a total of $342 million for those companies; most of its emerging biotech investments ranged from $1 million to $5 million.
All NovaQuest partnerships involve financial support and strategic development or marketing expertise; many also include product development or commercialization services from Quintiles. During 2005, NovaQuest’s eBio unit, which is dedicated to serving the emerging biotech and small-pharma market sector, invested in eight companies. It doubled that number in 2006.
"Three things are driving the active global biotech market that we’re participating in," said C.G. "Chip" Gillooly, Global Vice President of NovaQuest’s eBio unit. "First, biotech’s continued progress in developing promising new medicines. Second, private capital markets continue to value these companies more favorably than the global public equities markets, thereby altering investor exit strategies. Third, the value NovaQuest brings -- the experience and intellectual capital necessary to advance experimental programs, non-dilutive financing, alternatives to premature out-licensing and access to Quintiles’ global development and commercialization resources.
"We believe NovaQuest is among the leaders in biotech financing activity, and the only company combining that with the development and commercialization expertise available from Quintiles."
Quintiles Transnational Corp. is powering the next generation of healthcare by providing a broad range of professional services in drug development, financial partnering and commercialization for the biotechnology and healthcare industries. With 16,000 employees and offices in more than 50 countries, it is focused on providing customer-centric solutions that are the gold standard of the industry. For more information, please visit the company’s Web site at http://www.qtrn.com .
NovaQuest, the strategic partnering group of Quintiles Transnational, is an industry pioneer in offering tailored financial and operational solutions that help pharmaceutical and biotech companies overcome development and commercialization challenges. Its unique managed partnership approach ensures sponsorship by senior-level executives; access to global development and commercial resources and expertise; and efficient operational delivery of services. Since 2000, NovaQuest has committed more than $1.6 billion in "smart money" to alliances with companies of all sizes. For more information, please visit http://www.novaquest.com .
