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Deals of Year Spotlight Financings, Collaborations, Emerging Stars

Monday, January 14, 2013   (0 Comments)
Posted by: Angela King
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ATLANTA, GA (January 14, 2013) -- Georgia Bio announced its 2013 Deals of the Year for pharmaceutical, biopharmaceutical and medical device companies in four categories – public and private financings, economic development, public/private collaboration and company growth – reflecting a broad range of activity.

 
The annual Deal of the Year awards recognize transactions by life sciences companies in Georgia that are significant to the state’s industry development. The recipients will receive their awards at the Georgia Bio Annual Awards Dinner January 24, 6 pm to 9 pm, at Atlanta’s Fox Theater.
 
All deals occurred in 2012. The recipients are:
  • Alimera Sciences of Alpharetta, a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, and is dedicated to developing innovative, vision-improving treatments for diseases of the retina.
  • The Baxter International Inc. Team which helped to bring a $1 billion manufacturing facility for biological medical treatments near Covington, Ga. Baxter (NYSE: BAX) makes medical devices, pharmaceuticals and biotechnology products with a focus on hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions.
  • Children’s Healthcare of Atlanta/Georgia Institute of Technology: Children’s Healthcare of Atlanta, a not-for-profit pediatric health care system, is dedicated to making kids better today and healthier tomorrow. The Georgia Institute of Technology is one of the nation's top research universities, distinguished by its commitment to improving the human condition through advanced science and technology. Georgia Tech's campus occupies 400 acres in the heart of the city of Atlanta, where more than 21,000 undergraduate and graduate students receive a focused, technologically based education.
  • Clearside Biomedical of Alpharetta 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.
  • GeoVax Labs of Smyrna is a biotechnology company developing vaccines to prevent and treat HIV/AIDS. GeoVax’s preventive HIV vaccine has progressed to Phase 2 human clinical testing, while its therapeutic HIV vaccine is in Phase 1 human clinical trials.
  • Meredian of Bainbridge manufactures PHA biopolymers using renewable resources, further reducing the global dependence on petroleum historically used in the production of plastics.
  • MiMedx of Kennesaw is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products processed from human amniotic membrane.
  • REACH Health of Alpharetta is a healthcare technology company with a specialized focus on software-based telemedicine solutions.
Public Financing
MiMedx, led by Chairman and CEO Parker H. "Pete" Petit, raised over $4.9 million through the exercise of Callable Warrants issued in conjunction with an October 2010 Private Placement. The Company exercised its right to redeem the warrants effective August 3, 2012. Holders had the option to exercise the Warrants or have them redeemed by the Company. Over 98% of the Callable Warrants were exercised. 
 
GeoVax Labs, led by President and CEO Robert T. McNally, Ph.D., raised $2.2 million in March 2012 through the sale of Series A convertible preferred stock and warrants to institutional investors in a private placement. The funding allowed GeoVax to continue clinical testing of its therapeutic vaccine for the treatment of patients already infected with HIV, and was followed in September 2012 by a $1.9 million grant from the NIH to expand the development efforts of the company’s preventive HIV vaccine.
 
Alimera Sciences, led by President and CEO Dan Myers, completed the sale of $40 million of Series A Convertible Preferred Stock (the "Series A Preferred") and warrants to purchase Series A Preferred (the "Warrants") to a group of institutional investors, including both existing and new investors, in a private placement financing for the European launch of ILUVIEN. On October 1, 2012, the Company held a special stockholders meeting at which the stockholders approved the issuance of Series A Preferred and Warrants pursuant to applicable NASDAQ Listing Rules. At the closing, Alimera sold 1,000,000 units, with each unit consisting of one share of Series A Preferred and a Warrant to purchase .30 shares of Series A Preferred, at a purchase price of $40.00 per unit.
 
Private Financing
Clearside Biomedical, led by President and CEO Daniel White, and in partnership with Hatteras Venture Partners, launched the company with a $4 million Series A venture financing to fund the initial development of Clearside Biomedical’s ocular microinjection platform and initial clinical testing of Clearside Biomedical’s lead product for Macular Edema and Retinal Vein Occlusion. Clearside Biomedical’s proprietary ocular microinjection platform has been designed to non-surgically deliver drugs to an area of the eye referred to as the suprachoroidal space which allows a novel way of dosing of therapeutics to the tissues of the posterior segment of the eye and retina.
 
REACH Health, led by President and CEO Richard Otto, secured $4 million in Series B funding to support its new, multidisciplinary telemedicine platform, REACH Access™ in April 2012. The funding was led by Council Capital, BIP Opportunities Fund LP, and C&B Capital, all of which were investors in the company’s series A financing. The funding will enable REACH to maximize growth opportunities as more hospitals implement its comprehensive telemedicine solutions to provide the best access to specialized care.
 
Economic Development
Baxter announced in April 2012 that the company is building a state-of-the-art manufacturing facility near Covington, Ga. to support growth of its plasma-based treatments. The Baxter products that will be manufactured at the Covington facility include immunoglobulin therapies to treat a number of chronic and acute conditions, including immune deficiencies and critical care patients around the world. Baxter expects the project to result in the creation of more than 1,500 full-time positions in Georgia and more than 2,000 jobs in total across multiple U.S. locations. With strong talent, a spirit of collaboration and access to the world, the State of Georgia and its public-private partnerships enabled this addition to the life sciences community.
 
Public/Private Collaboration
Children’s Healthcare of Atlanta and the Georgia Institute of Technology announced a $20 million joint investment, strengthening their research commitment to developing technological solutions for improving children’s health in June of 2012. The expanded collaboration combines the proficiencies of both organizations with a common vision – to become the global leader in pediatric technologies. Led by Children’s President and CEO Donna Hyland and Georgia Tech President G.P. “Bud” Peterson, the enhanced alliance will support current researchers and recruit new researchers who will conduct fundamental and translational research in a collaborative environment.
 
Company Growth
Meredian, led by Dr. Daniel Carraway CEO and S. Blake Lindsey, President, opened its doors for the first time to guests and officials at the Grand Opening of the Meredian PHA manufacturing plant in Bainbridge, Georgia on Oct. 25, 2012. Meredian’s world-class, high tech manufacturing facility will be producing over 300,000 tons of PHA per year when at full capacity. With a current production rate of 30 million pounds, or 15,000 tons annually, the Meredian PHA plant today is the largest plant of its type in the world. Meredian is projected to continue at a rapid rate of growth both in production output and job creation.
 
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; maria.thacker@gabio.org).

 

 


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