Oðüà b'G äÃÃãdGh ƪæâd ±hô¶dG - Al Bayan Magazine
Oðüà b'G äÃÃãdGh ƪæâd ±hô¶dG - Al Bayan Magazine
Oðüà b'G äÃÃãdGh ƪæâd ±hô¶dG - Al Bayan Magazine
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اقتصاد عربي وعالمي<br />
منتى الاقتصاد العالمي - WEF الاردن<br />
Dubai based NewBridge Pharmaceuticals secures significant<br />
investment from Elan, boosting growth and expansion<br />
Elan Corporation, plc. invests<br />
$40 million of a $48M Series C<br />
financing in NewBridge<br />
Pharmaceuticals and becomes a<br />
major shareholder alongside<br />
Burrill & Company and Kuwait<br />
Life Sciences Company.<br />
NewBridge Pharmaceuticals<br />
announced the close of a $48 million<br />
Series C equity fundraising<br />
with an outsized investment of $40<br />
million from the Irish corporation,<br />
Elan, to expand its commercial and manufacturing operations<br />
in the Africa, Middle East and Turkey territories<br />
(AfMET) .<br />
The AfMET region’s healthcare sector is rapidly expanding<br />
and evolving, presenting many growth and investment opportunities.<br />
Elan’s investment will cement a dynamic and unique<br />
business foundation for the two companies in the years<br />
ahead. Through the transaction, NewBridge will rapidly grow<br />
and strengthen its team and portfolio of innovative medical<br />
products, driving the organization’s objective to provide the<br />
health care market with therapeutic solutions that address the<br />
growing medical needs of governments, medical professionals<br />
and most importantly patients.<br />
“This transaction is the most significant financial milestone<br />
in the short history of NewBridge which will accelerate<br />
our expansion plans in the region. The Series C fundraising<br />
JOE HENEIN<br />
NEWBRIDGE PHARMACEUTICALS<br />
represents an exponential increase<br />
in the amount of invested capital in<br />
our company and is a solid vote of<br />
confidence from our investors, especially<br />
in this challenging funding<br />
environment. We are very pleased to<br />
welcome Elan with their backing to<br />
enable us to execute against our<br />
strategic goals,” said Joe Henein,<br />
President and Chief Executive<br />
Officer of NewBridge<br />
Pharmaceuticals.<br />
Mr. Henein added, “Combining Elan’s expertise and global<br />
network with our regional capabilities, we are now well<br />
positioned as a leading specialty pharmaceuticals company to<br />
continue to introduce innovative healthcare solutions that<br />
cater to the medical needs of the region.”<br />
Chief Executive Officer of Elan, Kelly Martin, said, “We<br />
have invested in NewBridge because we recognize the<br />
strength of its network and the talent of its team, and are confident<br />
in the growth and diversity this transaction will bring.”<br />
Mr. Martin added, “The geographic markets in which<br />
NewBridge operates are characterized by underlying growth<br />
and demand for health care products, broad economic development<br />
and increased patient and caregiver knowledge in<br />
disease areas. We look forward to working together with<br />
NewBridge and its team to grow, advance and leverage this<br />
business platform.”<br />
٤٢ البيان الاقتصادية - العد - ٥٠٠ تموز (يوليو) ٢٠١٣
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