Crosstree was brought in to advise Pharmaceutical Profiles, on the other side of the Atlantic, in it's sale to Quotient Biosciences. Crosstree helped close the deal in 4 months in the heart of the financial downturn of 2008.
Please direct inquiries to:
Shane C. Senior, CFA
Crosstree Capital Partners, Inc.
In July, 2008; the venture capital group 3i Group was looking to exit their investment in Pharmaceutical Profiles, but was unfamiliar with the sub-sector of unique services that Pharmaceutical Profiles offered. Pharmaceutical Profiles provided early clinical support through reformulation services known as troubled formulation services, and phase 0 study support. 3i Group brought in Crosstree for it's concentration and understanding the the pharmaceutical outsourcing sector.
Within weeks, Crosstree brought in 4 interested parties, all of which were based in Europe. Of the 4 parties, 2 went through the due diligence phase. The process resulted in 3i selling Pharmaceutical Profiles to Quotient Biosciences. Quotient eventually changed Pharmaceutical Profiles to Quotient BioResearch to form Quotient's drug development services group. Crosstree's focus on niche life science sectors helped in understanding Pharmaceutical Profiles' business and the ability to get the right strategic companies involved. This deal also showcases Crosstree's ability to assist with global deals.
Pharmaceutical Profiles Limited provides drug development support to pharmaceutical and biotechnology companies worldwide. It provides clinical support for early drug development programs for oral drugs. The company also offers support in developing inhaled formulations for new and established drugs from the initial formulation concepts through to efficacy testing in patient or healthy volunteers. In addition, it provides first human dose study services using therapeutic doses of intravenous, inhaled, and oral formulations. Pharmaceutical Profiles Limited has a phase I clinical unit, a GMP facility for the manufacture of investigational medicinal products, and formulation R&D facilities in Nottingham, United Kingdom.
Quotient Bioscience Group provides a variety of testing-related products and services through its three divisions: Quotient Bioresearch (offers a variety of clinical drug research services), HFL Sport Science (conducts drug testing of athletes to detect illegal substances), and Alba Bioscience (manufactures products used in blood typing and in other blood testing procedures). The group operates primarily in the UK and North American markets but also serves markets in Europe and Asia.
Quotient Bioscience Group, the UK company making its mark in early-stage drug development, has delivered on its recent promise to carry on pursuing a vigorous expansion strategy by acquiring Pharmaceutical Profiles Group Limited, a Nottingham-based provider of specialist Phase I drug development services to the global pharmaceutical and biotechnology industries.
The financial terms of the acquisition, Quotient’s fifth to date, were not disclosed. Pharmaceutical Profiles will change its name to Quotient Bioresearch (Quotient’s drug development services group) over the next six to 12 months, while continuing to operate from its existing Phase I facility in Nottingham, UK. Mark Egerton retains his position as managing director of the acquired business.
Crosstree Capital Partners was the exclusive advisor for Pharmaceutical Profiles Limited.
Crosstree Capital Partners is a specialty advisory firm with a dedicated focus on select subsectors of the life sciences and healthcare industries, including drug and device outsourcing, diagnostic products and services, life sciences tools, medical technology, and healthcare information technology. Within these subsectors, Crosstree assists clients with corporate finance activities, including mergers and acquisitions advisory and growth capital financings. Crosstree's deep sector coverage offers clients unique industry insights, well-established strategic relationships across the globe and superior access to the capital markets. While Crosstree draws distinct industry lines of coverage, the firm has no geographic boundaries. Crosstree has advised clients throughout North America, Europe, India, China, Latin America and Australia. Crosstree Capital Partners, Inc. is an affiliate of Crosstree Capital Securities, LLC, which is a member of FINRA and SIPC. Crosstree’s website is http://www.crosstreecapital.com.
Crosstree Capital Partners is a micro-industry focused investment bank, providing strategic advisory services, including mergers and acquisitions, recapitalizations, and growth capital placements, to leading clients within its focused industries.
Crosstree is the leading source of related valuation and transactional data for its focus industries. Publications are available exclusively to website subscribers on dedicated industry portals. To access Crosstree’s proprietary industry portals and related publications and data, please login or click here to join.
Copyright © 2012 • Crosstree Capital Partners • All rights reserved•