April 14, 2011
GREENWICH, CT and OKLAHOMA CITY, OK – Great Point Partners I portfolio company, Cytovance Biologics, Inc (“Cytovance”), today announced the appointment of Bernhard Hampl, Ph.D., the former CEO of Eon Labs and the Sandoz US-division of Novartis, as Co-Chairman of Cytovance Biologics. Dr. Hampl joined Eon as CEO and President in 1996 and led Eon’s transformation from a small niche player into one of the most successful US pharmaceutical companies by 2005 when it was acquired by Novartis. During the period he was CEO, Eon’s revenue grew from $20 million to $435 million.
Darren Head, CEO of Cytovance indicated, “Cytovance has been experiencing rapid business growth and the equity financing from Great Point Partners puts additional muscle on an already strong balance sheet that has no debt. As we expand our capabilities and facility in biologics contract manufacturing in both mammalian and microbial cell cultures for proteins and antibodies in the U.S. and internationally, we wanted to add an admired executive with global biologics and biosimilar manufacturing and marketing expertise. We are honored to have Dr. Hampl as Co-Chairman.”
Dr. Hampl added, “Cytovance is committed to providing the highest quality contract biologics manufacturing services and delivering real value to their customers. I am excited to become both the Co-Chairman and an investor in Cytovance.”
Jeffrey R. Jay, M.D. Managing Director of Great Point Partners said, “As a long time Board member at Eon Labs, I witnessed Dr. Hampl’s ability to build an outstanding management team, implement and execute an organic growth strategy and increase shareholder value. In fact, after the Eon IPO in 2001, the share price increased four-fold over the next three and a half years.”
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $450 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including behavioral health, biologics manufacturing, biotechnology and life sciences, health care services, hospital outsourcing, information technology, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.