PharmaTelevision - Celtic Pharma: Attracting Big Pharma with experience and raising US$ 750M

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Video title: Celtic Pharma: Attracting Big Pharma with experience and raising US$ 750M

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In This Episode:

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In this interview, filmed at PharmaTelevision’s Oxford Studios, Dr Fintan Walton speaks with Stephen Parker, Partner at Celtic Pharma, a source of private equity and venture capital created in 2004.

They discuss:

• the drug assets acquired from companies including Xenova, IDEA and Inspire
• Celtic Pharma’s Funds, their investors and their aims to raise US$750 M
• attracting Big Pharma, based on the knowledge and hands on advice given by Celtic Pharma’s experienced management team
• how the treatment of management teams is a priority for Celtic Pharma
• exit strategies
• funding in the UK Biotech sector and the economic climate

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

The drug assets acquired from companies including Xenova, IDEA and Inspire.

Fintan Walton:

Hello and welcome to PharmaVentures business review here in Oxford, England. On this show I have Stephen Parker who is Partner at Celtic Pharma. Welome to the show.

Stephen Parker:

Thank you.

Fintan Walton:

Stephen Parker, Celtic Pharma is a source of private equity and venture capital for the pharmaceutical and biotech industry, tell us little bit about the foundation of Celtic Pharma and what it's and describe its two funds.

Stephen Parker:

Yes indeed. Celtic Pharma was first created in 2004. We had our first close on about Christmas eve 2004 in the first fund and we went on to raise $250 million in equity which we then leveraged with a further 150 of mix in the debt, so we had a fire power of $400 million altogether. Now the first fund was aimed at acquiring late stage drug assets which for one reason or other usually has to be said as biotech companies running out of cash where unable to make the last hurdles and therefore be an interest to big pharma companies who even at that stage were increasingly short of new pharma products for their pipelines. We managed to acquire a total of 10 compounds including three which came from the acquisition of Xenova in the UK, another 5 which were related to an investment we made inIDEA a private, privately held company in Germany and a couple of single drug deals one to acquire XERECEPT from Neurobiological Technologies in California. And the last one to acquire a Recombinant-Factor-IX from Inspiration in the States.

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Stephen Parker

Partner

Stephen Parkerhas twenty years of working with and within the biotechnology and pharmaceutical industries. He has experience within the biotechnology sector as Chief Financial Officer of Oxford GlycoSciences ("OGS")(2000-2002) and through several interim CEO projects. At Oxford GlycoSciences he played a leading role in the raising of "170m in the largest UK follow-on equity fund raising for a biotechnology company and led the creation of a joint-venture, >Confirmant Limited, with Marconi PLC to exploit database applications of the proteomics platform.

Celtic Pharma

Celtic Pharma seeks to acquire direct ownership or controlling stakes in novel, differentiated and commercially attractive pharmaceutical products in the late stages of clinical and regulatory development. Celtic Pharma is committed to funding and actively managing these products through the last two to four years of clinical development and worldwide regulatory approval, including establishing manufacturing arrangements and other preparations for market launch. Celtic Pharma is pursuing a rigorous "virtual pharma" model of outsourcing for all activities except strategic decision making, regulatory interactions, contract negotiations and project supervision.