Newsletter Winter 2011

Citigate Pharma & Biotech Team – Quarterly UpdateWinter 2011

The past few months have seen Citigate’s clients continue to deliver a number of significant corporate and clinical development milestones, including several fundraisings (private and public), significant clinical developments and corporate activity.

Since July 2010, the Citigate team has provided strategic communications consultancy to support clients in raising nearly EUR250 million in various types of transaction, including IPO (Stentys), secondary offerings (Amarin), private placements (Clavis Pharma, ThromboGenics), strategic investments (Chi-Med) and private fundraising (immatics). In addition, the team worked on behalf of Movetis to support its IPO in 2009 and subsequent sale to Shire in 2010 for EUR428 million.


Key Highlights of the Past Quarter
	Amarin started 2011 on a high after reporting excellent results from the first of two Phase III clinical trials with AMR101 for treating elevated triglycerides (the MARINE study). These results and the excitement building in advance of the results from the second Phase III trial (the ANCHOR study) were key factors in the Company raising USD105 million in a secondary offering early in the new year. The Company’s share price is riding high too, having risen nearly 500% during 2010.
	ThromboGenics completed a successful EUR56 million private placement in December. This follows the Company completing two successful Phase III trials with its lead product ocriplasmin (microplasmin) for the treatment of symptomatic vitreomacular adhesion (sVMA), an eye condition that causes impaired vision. The Phase III programme also demonstrated that ocriplasmin was effective in curing macular hole in approximately 40% of patients, a condition that can lead to central blindness if not treated.
	Clavis Pharma ended 2010 strongly by expanding the partnership for its pancreatic cancer drug candidate CP-4126 in a new USD205 million deal with Clovis Oncology that gives the US firm global commercialisation rights and brings the total value of licence agreement for CP-4126 to USD585 million. Clavis Pharma also successfully raised NOK175 million in a private placement and offering, which will enable the Company to advance its core development activities at full speed and deliver the crucial read-outs from its lead clinical programmes.
	Hutchison China Meditech’s drug R&D subsidiary Hutchsion MediPharma (HPML) raised approximately USD20 million from Mitusi & Co and SBCVC in two separate transactions. These funds will be used to further develop its pipeline of novel oncology and auto-immune drug candidates.
Further highlights from the past quarter can be found below, including a number of strategic deals for companies such as Biocartis, Algeta and Oxford BioTherapeutics.

New People
	We are very pleased to welcome Sita Shah to the team. Sita joins from Masters Pharmaceuticals, where she was Marketing Communications Manager. Before that she spent several years as a Companies Writer on Scrip, one of the pharmaceutical sector’s most widely read publications. Sita has a history degree and a postgraduate diploma in print journalism, and she is fluent in Gujarati and Spanish. Sita will be providing support to clients across the Citigate team’s portfolio.

Portfolio Company News (click links for further details) Financial News Amarin raises USD105 million in secondary offering arGEN-X awarded EUR1.5 million grant to accelerate pre-clinical antibody development Clavis Pharma raises NOK175 million (EUR22 million) Hutchison Medipharma receives strategic investments from Mitsui and SBCVC Fund III Company ThromboGenics Raises EUR56 million in private placement Corporate and Business Development Alacrita - new life science consultancy launched Alacrita publishes thought-piece on virtual drug development Algeta signs exclusive agreement with Lumiphore, Inc. to access proprietary technology to enhance its Thorium platform Biocartis signs strategic partnership in molecular diagnostics with bioMérieux and J&J Clavis Pharma and Clovis Oncology sign new USD205 million deal for anti-cancer agent CP-4126 in Asia and RoW Heptares achieves milestone in GPCR drug discovery agreement with Novartis Kuros announces licence agreement for its fibrin-based technologies with Ethicon Kuros regains rights to selected wound care and trauma clinical candidates from Baxter Oxford BioTherapeutics out-licenses cancer antibody programme to sanofi-aventis Product Development / Clinical Trials Algeta hits 900-patient recruitment target for Phase III ALSYMPCA study Amarin’s AMR101 meets primary endpoints in Phase III MARINE trial Amarin completes patient randomization in Phase III ANCHOR trial with AMR101 Bioventix develops novel antibody to Vitamin D, a key biological marker linked to multiple diseases Cardio3 BioSciences announces positive outcome of the C-Cure Phase II trial in heart failure patients Clavis Pharma’s elacytarabine granted FDA Fast-track designation in USA Clavis Pharma’s CP-4126 enters new Phase II trial in pancreatic cancer patients ThromboGenics’ THR100 enters Phase III trial in myocardial infarction People and Appointments Algeta appoints Lars Abrahmsén as Senior Vice President, Protein Therapeutics Amarin appoints Joseph Zakrzewski as CEO Amarin appoints Paul Huff as Chief Commercial Officer arGEN-X appoints Debbie Allen as Senior Director Business Development