Montgomery, AL, December 14, 2009 - Kowa Pharmaceuticals America, Inc. (KPA), a privately-held specialty pharmaceutical company headquartered in Montgomery, AL, announces the divestment of its unique franchise of diclofenac products, including CAMBIA™ (diclofenac potassium for oral solution), recently approved by the U.S. Food and Drug Administration (FDA) for the treatment of acute migraine headache pain, and PRO-571, a product development candidate for the potential treatment of acute pain.
Robert W. Baird & Co. acted as the exclusive financial advisor to KPA. The diclofenac products were acquired by Nautilus Neurosciences, Inc., a neurology-focused specialty pharmaceutical company founded by Tailwind Capital and headquartered in New Jersey. Terms of the transaction were not disclosed; however, they include both an up-front payment and future milestones based on Nautilus' attainment of certain regulatory and sales milestones. The diclofenac products were initially licensed to KPA by Applied Pharma Research, S.A. (Balerna, Switzerland).
KPA announced its intent to divest these assets in April 2009 following a thorough review of its research & development portfolio, which led the Company to shift its strategic focus to therapies targeting cardiometabolic diseases. LIVALO® (pitavastatin), a potent HMG-CoA reductase inhibitor, was approved by the FDA in August 2009 for the treatment of primary hyperlipidemia and mixed dyslipidemia. KPA will launch LIVALO® into the US market in early 2010. Other products in Kowa's pipeline include treatments for diabetes, intermittent claudication, and atherosclerosis.
"We are pleased to announce the sale of CAMBIA™ and PRO-571 and wish Nautilus success with the CAMBIA™ launch. This sale completes the transformation of KPA into a cardiometabolic specialty pharmaceutical company. We have experienced record growth in 2009 and look forward to a successful launch of LIVALO® in 2010," said William Maichle, COO of Kowa Pharmaceuticals America.
About Kowa Company Ltd. and Kowa Pharmaceuticals America
Kowa Company, Ltd. (KCL) is a privately held multinational company headquartered in Nagoya, Japan. Established in 1894, Kowa is actively engaged in various manufacturing and commercial activities in the fields of pharmaceutical, life science, information technology, textiles, machinery and various consumer products. Kowa's pharmaceutical division is focused on cardiovascular therapeutics, with sales of the company's flagship product, LIVALO® (pitavastatin), totaling $340 million (12% market share) in Japan during the 2008 fiscal year and expected to exceed $500 million in the near future.
Kowa Pharmaceuticals America, Inc. is a specialty pharmaceutical company focused primarily in the area of cardiometabolic disease. The company started in 2001 as ProEthic Pharmaceuticals, Inc., and a majority stake in the company was acquired by Kowa Company, Ltd. in September, 2008. A privately held company, KPA focuses its efforts on the acquisition, development, licensing and marketing of pharmaceutical products. Its lead product, LIPOFEN® (fenofibrate capsules), is indicated as adjunctive therapy to diet to reduce elevated triglycerides and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia. For more information about KPA, please visit www.kowapharma.com.
About Nautilus Neurosciences Inc.
Nautilus Neurosciences is a neurology-focused specialty pharmaceutical company committed to providing the healthcare community with relevant products and services that directly benefit those affected by neurologic disorders. In the first half of 2010, Nautilus intends to launch a novel product, CAMBIA™ (diclofenac potassium for oral solution). CAMBIA™ is indicated for the acute treatment of migraine attacks with or without aura in adults. Nautilus is backed by Tailwind Capital, a leading private equity firm that invests in health care, business services and media/communications companies. www.nautilusneurosciences.com
Tailwind Capital is a leading private equity firm investing in growth-oriented middle market companies in the healthcare, business services, and media/communications sectors. Tailwind partners with management teams to build businesses through organic growth, strategic acquisition, and operational improvement. The firm currently has over $1 billion under management. Representative Tailwind investments include VersaPharm (generic pharmaceuticals), Aircast (orthopedic devices), Freedom Innovations (prosthetic devices), SDI Health (healthcare analytics), TowerCo (wireless infrastructure), Archway (marketing logistics), and Trover Solutions (insurance services). www.tailwind.com
About Applied Pharma Research
APR Applied Pharma Research SA is an independent, international, vertically integrated drug delivery and drug development company in healthcare with registered offices in Switzerland and the U.S. It is focused in the R&D of innovative and patented drug delivery systems as well as innovative pharmaceutical products primarily for oral and topical administration. The APR products and technologies are licensed to third parties for distribution and marketing activities. R&D activities are carried out directly or under contract. APR has signed licensing agreements with pharmaceutical companies in 117 countries worldwide and its sales are almost totally achieved abroad. For more information about APR, please visit www.apr.ch.For more information about KPA, please visit www.kowapharma.com.