Great Point Partners announce acquisition of a majority stake in Caprion Proteomics.
Montréal, Quebec and GREENWICH, CT - Great Point Partners today announced that it has acquired a majority stake in Caprion Proteomics, Inc. ("Caprion" or the "Company"), a leading proteomics based biopharmaceutical research company, from Thallion Pharmaceuticals (TSX: TLN).Caprion is a rapidly growing leader in the proteomics market.
When asked about the transaction, Martin LeBlanc, CEO of Caprion Proteomics indicated "Great Point Partners' financial support, track record of industry success, philosophy of supporting management teams, and strategic leadership, in combination with Caprion's customer base and experienced leadership team, position us well to capitalize on the growing demand for proteomics services in the area of drug discovery and development."The Caprion senior management team will continue to run the Company with no change in location, personnel, or business model.
"Caprion represents an opportunity to invest in not only a company with industry leading technology, but also a talented, eager and entrepreneurial management team.We believe that the Company's powerful proteomic discovery engine and superior bioinformatics capabilities will enable Caprion to expand its leading position in the proteomics industry," said Mr. Dolder, Managing Director at Great Point Partners."Caprion provides a complex, differentiated and high value-add service to a customer base that relies heavily on the ability to determine which proteins, molecules and antibodies will yield successful therapeutics - Caprion does just that." Great Point's Adam Dolder and David Kroin will join the Board of Caprion.
"This transaction enables both Thallion and Caprion to focus on their respective core missions while also allowing Thallion to retain substantial upside in the proteomics business that we pioneered," said Lloyd M. Segal, Chief Executive Officer of Thallion Pharmaceuticals Inc. "Great Point Partners is a best-in-class investment partner in the life sciences and health care services sector and we look forward to working with them as co-investors in order to support Caprion and its management team."
About Caprion Proteomics
Caprion Proteomics is the leading provider of proteomics-based discovery solutions to the pharmaceutical industry. Caprion uses its proprietary proteomics technology platform - CellCarta® - to discover novel targets for therapeutics development as well as clinical biomarkers that can significantly reduce risk and enhance productivity and decision making in pharmaceutical research. Caprion has established strategic alliances in the area of novel oncology target discovery and antibody development with Abbott, Biogen-Idec, and Centocor, as well as multiple biomarker collaborations with such leading companies as Pfizer, Johnson & Johnson, Wyeth, Daiichi-Sankyo, Boehringer-Ingelheim, Berlex (now Bayer HealthCare) and Vertex. Caprion also has a major 5-year bio-defense contract in infectious disease proteomics with the NIH-NIAID. In addition, Caprion was recently awarded the Frost & Sullivan 2007 North American Proteomics for Biomarker Discovery Excellence in Technology award. For more information, please visit: www.caprion.com.
About Great Point Partners, LLC
Great Point Partners, LLC, based in Greenwich, CT, is a leading health care investment firm with approximately $800 million of equity capital under management. Currently, the firm manages capital in both public equity and private equity funds. Great Point has provided growth equity, recapitalization and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. Notable drug development companies financed by the principals include Advanced Magnetics, Akorn Laboratories, Biodel, Centocor, Eon Labs (Now part of Novartis) and Memory Pharmaceuticals. Reach Great Point at 203-971-3300. www.gppfunds.com.
About Thallion Pharmaceuticals Inc.
Thallion Pharmaceuticals Inc. (TSX: TLN) is a biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. Thallion's clinical-stage programs include: Shigamabs®, a dual antibody product for the treatment of Shigatoxinproducing E. coli bacterial infections; ECO-4601, a novel anticancer therapy derived from a nonpathogenic microorganism; and CAP-232, a targeted therapy with potential efficacy in multiple oncology indications. Thallion Pharmaceuticals was formed on March 14, 2007 by the amalgamation of Ecopia and Caprion. Additional information about the Company can be obtained at www.thallion.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.