MONTREAL, QUEBEC--(Marketwired - Oct. 2, 2014) - Knight Therapeutics Inc. (TSX:GUD) ("Knight"), a leading Canadian specialty pharmaceutical company, announced today that it has expanded its innovative pharmaceutical product sourcing strategy for the Canadian market. This strategy is based on the conviction that with targeted incentives, an investment in time proven life science funds will generate preferential access globally to top biotechnology and pharmaceutical companies and their products.
To this end, Knight expanded its reach from its investment in Sectoral's New Emerging Medical Opportunities Fund II, Ltd. by entering into an agreement with Forbion Capital Partners ("Forbion"). Knight will be investing EUR19.5 million into Forbion Capital Fund III C.V. ("FCF III"). Underlying Knight`s investments in the Sectoral and Forbion life science funds, which have a combined assets under management in healthcare greater than USD$4 billion, is the ability to leverage their broad life sciences industry experience and relationships including well placed introductions to their investee companies.
As of the end of June, 2014, Forbion has EUR450 million in assets under management through its four active funds and positions in 30 life science companies. Forbion is based in Europe and focuses primarily on investments in Europe and North America. The firm also co-manages the BioGeneration Ventures Funds, focused on seed- and early-stage life sciences investments in Benelux.
Forbion is the second life sciences fund investment Knight has made to date. "This fund investment strategy has already fostered discussions with potential partners that have innovative pharmaceuticals Knight would not have otherwise had access to." said Jonathan Ross Goodman, President and CEO of Knight. "We intend to commit up to $130 million Canadian in total to this strategy with our long term goal of creating Canada's largest innovative pharmaceutical pipeline. This leaves at a minimum $105 million Canadian from which we will continue to aggressively execute on our proven strategy of fueling low risk, sustained growth through (1) in-licensing late-stage pharmaceutical products for the Canadian market, (2) acquisition of products or companies with existing pharmaceutical revenues and (3) secured lending to innovative pharmaceutical companies.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. Knight Therapeutics' shares began trading on the TSX-V on March 3, 2014 and graduated to the TSX on April 29, 2014 under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gud-knight.com or at www.sedar.com.
About Forbion Capital Partners.
Forbion Capital Partners is a dedicated Life Sciences venture capital firm with offices in Naarden, The Netherlands, and Munich, Germany and representatives in Boston, US and Tel Aviv, Israel. Forbion invests in world-class life sciences companies in drug discovery & development, diagnostics as well as medical device companies addressing substantial unmet medical needs. Forbion's investment team of ten investment professionals has built an impressive performance track record since the late nineties with successful investments in Rhein Biotech, Crucell, Neutec, Glycart, Borean, Impella, Alantos, Acorda, Fovea, PanGenetics, Argenta Discovery, Biovex, Pathway Medical, Circulite and most recently Santaris. Current assets under management exceed EUR450 million, split between four active funds and comprising 30 promising portfolio companies. For more information, please visit www.forbion.com.
Knight Therapeutics Forward-Looking Statement
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the company's final application for listing on the TSX Venture Exchange and in two short form prospectuses which can be found on SEDAR at www.sedar.com, which investors should consult for additional information. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.