Date: 2016-03-21
Type of information: Restructuring
Company: Atlantic Healthcare (UK)
Investors: Fullbrook Thorpe Investments (UK) LDC (the private equity division of Lloyds Banking Group plc), existing investors.
Amount: $24 million
Funding type: financing round
Planned used:
- The investment will fund the recently announced pivotal Phase 3 trial for alicaforsen enema, Atlantic Healthcare’s wholly-owned product to treat Inflammatory Bowel Disease (IBD) pouchitis, as well as the regulatory filings for approval with the U.S. FDA, EMA, and Health Canada. In February 2016, Atlantic Healthcare commenced the recruitment of 138 patients at 40 trial centres across the United States, Canada, Europe and Israel. The product is also ready to commence Phase 3 for acute ulcerative colitis.
- Atlantic Healthcare has worldwide exclusive rights to alicaforsen, which has been licensed from Ionis Pharmaceuticals and has regulatory and patent exclusivity until circa 2030.
Others:
- • On March 21, 2016, Atlantic Healthcare announced it has raised $24 million via an oversubscribed equity financing round with the founders of Salix Pharmaceuticals, Inc.; Fullbrook Thorpe Investments LLP (the family investment arm of Andy Leaver, founder of Clinigen Group plc); LDC (the private equity division of Lloyds Banking Group plc); and existing investors.
- In addition, Dr Lorin K Johnson has been appointed to the Board of Directors and has joined Atlantic Healthcare as a member of the Leadership team as Chief Scientific Advisor, with immediate effect. Dr. Lorin K Johnson was previously the Scientific Founder of Salix Pharmaceuticals until its $15.8 billion acquisition in April 2015 by Valeant Pharmaceuticals. Prior to Salix, Dr. Johnson was Chief Scientist at California Biotechnology, and held academic positions at Stanford University School of Medicine and the University of California, San Francisco.
Therapeutic area: Inflammatory diseases - Gastrointestinal diseases
Is general: Yes
