Park Vale Capital is proud to announce that the Members of The Academy of Medical Sciences will act as advisor to the following strategy: click here for more information.
Park Vale is currently focusing on investments in biotechnology companies engaged in late stage biotechnology and pharma development selected from their extensive network of deal flow and working in conjunction with F2 Capital. By investing in the most promising late stage companies, where the drug candidates are in late phase 2 and phase 3 trials, the investment time span is expected to be dramatically shortened from 7-10 years to 12-24 months, and risk narrowed down to an 80:20 success to failure ratio, compared to the reverse in earlier stage investments. The strategy provides multiple exit options, including industry buyouts, as the pharmaceutical industry faces diminished R&D productivity and seeks to replace the US$250bn of patented drugs coming off-line during 2016.
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- RADIUS - IPO
June 5, 2014
- CHIASMA - IPO
July 21, 2015
- PRESS RELEASE
April 25, 2013
- FINANCIAL TIMES COVERAGE
May 02, 2013
Radius Health, Inc. Announces Pricing of Initial Public Offering
LINK: Nasdaq – RDUS
CAMBRIDGE, Mass., June 5, 2014 (GLOBE NEWSWIRE) — Radius Health, Inc. (“Radius”) announced today that it has priced its initial public offering of 6,500,000 shares of its common stock at a public offering price of $8.00 per share. In addition, Radius has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock to cover over-allotments, if any. The common stock will begin trading on the NASDAQ Global Market on June 6, 2014 under the symbol “RDUS.”
Jefferies LLC and Cowen and Company, LLC are acting as joint book-running managers and underwriters for the offering. Canaccord Genuity Inc. is serving as co-lead manager, and Cantor Fitzgerald & Co. is serving as co-manager.
A registration statement (including the prospectus) relating to these shares of Radius’s common stock has been filed with the U.S. Securities and Exchange Commission and declared effective. The offering of these shares is being made only by means of a prospectus forming part of the effective registration statement relating to these shares. Copies of the prospectus, when available, may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 547-6340 or by email at firstname.lastname@example.org, or Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (631) 274-2806 or by fax at (631) 254-7140.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of shares of Radius’s common stock in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Chiasma, Inc. Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
LINK: Nasdaq – CHMA
NEWTON, Mass. and JERUSALEM, Israel, July 21, 2015 /PRNewswire/ — Chiasma, Inc. (“Chiasma”) today announced the closing of its initial public offering of 7,319,750 shares of common stock at a price of $16.00 per share, before underwriting discounts, which includes the exercise in full by the underwr iters of their option to purchase up to 954,750 additional shares of common stock. All of the common stock was offered by Chiasma. Chiasma’s stock is listed on The NASDAQ Global Select Market under the ticker symbol “CHMA.”
Barclays Capital Inc. and Cowen and Company, LLC acted as joint book-running managers for the offering. William Blair & Company, L.L.C. and Oppenheimer & Co. Inc. acted as co-managers. A copy of the final prospectus relating to this offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, or by emailing: Barclaysprospectus@broadridge.com; or Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (631) 274-2806, fax: (631) 254-7140.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 15, 2015.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Radius Health Completes $43 Million Financing to Advance BA058 for the Treatment of Osteoporosis
Board Appoints New Members, Morana Jovan-Embiricos, PhD and Owen Hughes
CAMBRIDGE, Mass., April 25, 2013 – Radius Health, Inc. (“Radius”), a biopharmaceutical company focused on developing new therapeutics for the treatment of osteoporosis and other women’s health conditions, announced today that it has completed a new equity financing of $43 million.
Radius Health plans to use the funding to support the continued advancement of the company’s clinical development programs for its lead asset, BA058, a novel anabolic, bone-building compound for the treatment of patients with osteoporosis at high risk of fracture. BA058-SC, an injectable form of BA058, is currently in a Phase 3 trial. BA058-TD, is in a Phase 2 trial studying the efficacy of delivering BA058 via a transdermal patch.
The financing was led by F2 Biosciences III, L.P., with participation from existing investors, Biotech Growth N.V., MPM Capital, Brookside Capital, MPM Bio IV NVS Strategic Fund and BB Biotech Ventures. Morana Jovan-Embiricos, PhD, Managing Partner at F2 Biosciences, and Owen Hughes, Chief Business Officer and Head of Corporate Development at Intarcia Therapeutics and formerly a Director at Brookside Capital, will join Radius’ Board of Directors.
“We are thankful for the support of our current and new investors, and we welcome Morana and Owen to the Board,” stated Michael S. Wyzga, President & CEO of Radius Health.
Mr. Wyzga continued, “Our recently reported interim blinded safety data for clinical fractures occurring in the Phase 3 trial and the completion of enrollment in both the subcutaneous Phase 3 and the short-wear time patch Phase 2 trials demonstrate solid progress toward our goal of commercializing this compound. Osteoporosis is a large market. Currently available treatments do not adequately serve the needs of patients, especially those at high risk of fracture.”
Morana Jovan- Embiricos, lead investor and Managing Director of F2 Biosciences, said, “This is an important time for Radius Health in the late-stage clinical development of BA058 as an injectable and a short -wear time transdermal patch. We recognize the global market need for this novel agent, and we are delighted to join the rest of the Board and support the company through the final stages of development.”
About F2 Biosciences The F2 family of life science funds was established by Morana Jovan- Embiricos, with the launch of F2 Ventures in 2003. In 2010, F3 Ventures followed. Through various vehicles, the F2 family of funds has managed over $300M in life sciences on public and private markets.
Radius Health is a biopharmaceutical company focused on developing new therapeutics for the treatment of osteoporosis and other women’s health conditions. Radius is committed to the development of advanced therapeutics for the large and underserved osteoporosis market. The company’s lead product candidate, BA058-SC, is in development to reduce the risk of complications associated with osteoporosis, such as fracture. The company also has a next-generation transdermal patch, BA058-TD, being developed as a short wear -time delivery vehicle intended to improve patient compliance with convenience and ease of use, as well as a product in development to treat symptoms associated with menopause. Radius and 3M Drug Delivery Systems have an exclusive partnership agreement for development and commercial supply of BA058-TD. Learn more by visiting the company’s new website at www.RadiusPharm.com.
Safe Harbor for Forward-Looking Statements Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for BA058-SC and BA058-TD, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict” and similar expressions and their variants, as they relate to Radius or its management, may identify forward-looking statements. Radius cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Radius to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of Radius’ proposed product candidates (such as marketing, regulatory, patent, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property; and risks that Radius may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect Radius’ business, financial conditions and results of operations are contained in Radius’ filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. The forward-looking statements represent Radius’ estimate as of the date hereof only, and Radius specifically disclaims any duty or obligation to update forward-looking statements.
David Connolly or Donna Lavoie
LaVoie Group 617.374.8800
Nick Harvey, CFO
UK Medical Academy in Novel Arrangement to Advise Biotech Fund
By Clive Cookson
The Academy of Medical Sciences has set up an innovative arrangement for its 1,050 fellows to advise a
new biotechnology investment fund.
The fund, called F2 Bioscience IV, is run by Park Vale Capital, a private London-based investment
company. It aims to put money into drugs and other medical products that are in advanced development
– within two or three years of commercial licensing – but need further funding to complete clinical
The academy, an independent charity, will put the Park Vale team in touch with fellows whose expertise
qualifies them to provide scientific and clinical advice on investment options.
In exchange, the academy, one of five UK national academies, will receive “an annual retainer and a
share of the performance profits” of any companies the fund invests in as a result of its advice. Precise
financial arrangements are confidential.
If the investments succeed, the academy will gain extra income to use to promote medical science but,
according to Sir John Tooke, its president, making money is not its primary motivation.
“We want to make sure that late stage products with the most potential to improve health and bring
positive medical innovation to patients are not lost because the required investment is not made,” he
said. “We owe it to patients to complete the innovation cycle.”
The late stage funding gap results from a mismatch between the typical venture capital time horizon,
which envisages making money out of investments after seven to 10 years, and the 15 years typically
required for a biotech start-up to obtain marketing approval for a new drug.
When venture capital funds were investing in biotech in the late 1990s, they envisaged bridging the gap
by floating fledgling companies on stock markets, but that has not worked because for several years
capital markets have had no appetite for biotech companies without commercial products.
As a result, there are plenty of attractive investment opportunities today, said Katherine Priestley,
managing partner of Park Vale Capital.
“There has been a change in the attitude of the academic community towards industry, and we can take
advantage of that to help us choose the best candidates for the translation of medical science to benefit
everyone,” she said.