Deals of Year Spotlight Financings and Collaboration
Tuesday, January 7, 2014
Posted by: Angela King
ATLANTA--(BUSINESS WIRE)--Georgia Bio announced its 2014 Deals of the Year for pharmaceutical, biopharmaceutical and medical device companies in two categories – private financing and public/private collaboration – reflecting a broad range of activity. The annual Deal of the Year awards recognize transactions by life sciences companies in Georgia such as financings, partnering agreements and government grants that are significant to the state’s industry development.
2014 Deals of the Year are awarded to one or more companies or institutions for the most significant financial or commercial transactions closed from November 1, 2012-October 31, 2013. The recipients will receive their awards at the Georgia Bio Annual Awards Dinner January 23, 6 pm to 9 pm, at Atlanta’s Fox Theater.
The recipients are:
Arbor Pharmaceuticals, LLC led by Ed Schutter, President and CEO, announced in September 2013 that Takeda Pharmaceutical Company Limited and Arbor Pharmaceuticals Ireland Ltd., a wholly-owned subsidiary of Arbor Pharmaceuticals, LLC have entered into a license, development and commercialization agreement. The agreement will provide Arbor with exclusive rights to market and sell EDARBI (azilsartan medoxomil) and EDARBYCLOR (azilsartan medoxomil and chlorthalidone) in the U.S. market. Dr. Brian Adams, Vice President of Business Development, led the Arbor acquisition team. Arbor is a specialty pharmaceutical company headquartered in Atlanta, Georgia and currently focused on the cardiovascular, pediatric and hospital markets. The company intends to become a leading specialty pharmaceutical company by actively licensing, developing and commercializing late-stage products for specialty focused conditions. To learn more, visit http://www.arborpharma.com.
Clearside Biomedical Inc. led by CEO Daniel White raised nearly $8 million from investors, including a Japanese pharmaceutical company, as it prepares for late-stage trials on a novel injection technique. The new capital will help the company take the steroid — CLS1001 (triamcinolone acetonide) — into Phase III clinical trials, and also help the company investigate additional compounds. Based in Alpharetta, Clearside is a clinical stage, ophthalmic pharmaceutical company developing and commercializing targeted therapeutics for the treatment of sight threatening diseases. Clearside treats the pathological changes to the blood retinal barrier that lead to retinal blindness by delivering therapeutics to the retina and choroid through the suprachoroidal space using a proprietary microinjection dosage form. To learn more, visit http://clearsidebio.com/.
CorMatrix® Cardiovascular, Inc. led by Co-Founder, CEO and Chairman David Camp, is a privately held medical device company dedicated to innovative biomaterial devices that harness the body’s own innate ability to repair damaged cardiovascular tissue. In October 2013, CorMatrix announced raising from private investors $24.6 million in equity financing. Headquartered in Roswell, Georgia, the Company is currently researching, developing and commercializing a platform technology known as the CorMatrix ECM® for a variety of cardiovascular indications. To date, the Company has received U.S. clearance and European approval to market its ECM technology for three products: pericardial repair and reconstruction, cardiac tissue repair, and carotid artery repair. With significant patent protection, CorMatrix is poised to successfully expand its current line of products, including a planned clinical safety trial in Europe Q1 2014 with a product designed to treat Heart Failure patients. To learn more, visit www.cormatrix.com.
EndoChoice, Inc. led by founder and president, Mark Gilreath, announced in January 2013, a trifecta of deals to expand the company. The Atlanta based company acquired Peer Medical of Caesarea, Israel and RMS Endosckopie-Technik of Hamburg, Germany while closing a $43 million fund-raising round led by Sequoia Capital and its existing investors.
Based in Atlanta, EndoChoice is a medtech company focused on the manufacturing and commercialization of platform technologies including devices, diagnostics, infection control and endoscopic imaging for specialists treating a wide range of gastrointestinal diseases. EndoChoice leverages its direct sales organization to serve more than 2,000 customers in the United States and works with 34 distribution partners world-wide. The Company was founded in 2008 and has rapidly developed a proprietary product portfolio, which includes the revolutionary Full Spectrum Endoscopy™ System (Fuse™). 2013 marked the fourth consecutive year EndoChoice was recognized as one of the fastest growing companies in the U.S. by Inc. Magazine. To learn more, visit www.endochoice.com
Royal Philips and Georgia Regents Health System, Georgia’s academic health system affiliated with Georgia Regents University, signed a 15-year, $300+ million alliance in June that shifts the focus towards increasingly patient-centered approaches to care that will decrease costs while increasing quality, satisfaction, and clinical outcomes. Inherent to this model is the self-imposed pressure by the partners for more end-to-end patient care solutions rather than the prototypical drive to sell more equipment.
Also embedded in the agreement are shared risks and rewards built around public quality and cost measures. With the Affordable Care Act basing more care provider payments on keeping patients healthier, it is incumbent upon the two organizations to deliver positive, measurable, and sustainable results.
Through the first-of-its-kind delivery model in the United States, Philips will provide GRHS with a comprehensive range of consulting services, advanced medical technologies, and operational performance, planning, and maintenance services with a pre-determined monthly payment.
Other leading companies, executives, researchers and dedicated individuals will receive Georgia Bio Awards for the following categories (listed alphabetically by award title):
- Community Awards - Richard diMonda, BEE, MSBME, MBA; Judy M. Gantt M.Ed., Centers for Disease Control and Prevention; Joseph M. Patti, Ph.D., Biota Pharmaceuticals, Inc.; Todd Sherer, PhD, CLP, Emory University
- Emerging Leader of the Year - Dana Fallaize, Emory University
- Industry Growth Awards – David Hartnett, Metro Atlanta Chamber; David Perryman, DRIVE LLC
- Innovation Awards - Amy Baxter, MD, CEO, MMJ Labs; Ami Klin, Ph.D., Director, Marcus Autism Center
- Legislator of the Year Award - Representative Ben Watson (R-166)
- Phoenix Award - Merial LTD & the University of Georgia
- Teacher of the Year - Julie A. Johnson, RN, MSN/MBA, Ed.S., Social Circle High School
For a list of past Georgia Bio Award recipients, click here.
Georgia Bio (www.gabio.org) is the private, non-profit association whose members include pharmaceutical, biotechnology and medical device companies, medical centers, universities and research institutes, government groups and other business organizations involved in the development of life sciences related products and services.
Note to Editors: Credentialed members of the news media are invited to attend. Registration is complimentary. Please contact Maria Thacker (404-920-2042; firstname.lastname@example.org).