Updated on 10 April 2013
Phylogica engages Griffin Securities to evaluate its strategic opportunities after receiving several informal approaches from companies and pharmaceutical corporate venture divisions for access to its drug disc
Singapore: Phylogica has engaged Griffin Securities, a specialty investment bank located in New York City, to conduct a formal process for evaluating strategic opportunities available to the company.
Phylogica's CEO, Dr Paul Watt, commented that, "Over the past few years we have continued to demonstrate the value of our Phylomer platform through the progress of our four alliances with top-10 pharmaceutical companies. We have also further validated the Phylomer approach through our in-house R&D. As a result, Phylogica has caught the attention of companies wanting to access our next-generation peptide drug discovery capabilities, but also companies that are interested in additional uses of the platform."
Dr Watt continnued, "This has established our technology at the forefront of peptide drug discovery, particularly in the burgeoning new field of intracellular delivery of biological drugs. In addition, Phylomers have potential applications in animal health, agricultural biotech and industrial products. We have had informal approaches from several companies and have also stimulated interest from a number of pharmaceutical corporate venture divisions. Phylogica has therefore formalised a strategic process around evaluating such opportunities with the appointment of Griffin Securities."
Mr Adrian Z Stecyk, CEO and founder, Griffin Securities, said that, "We are delighted to be working with Phylogica in evaluating the numerous opportunities that the Company could pursue. The Phylomer platform is a world-changing technology that should fulfil the emerging demand for discovering breakthrough peptides."
Mr Stecyk said that, "We look forward to exploring the variety of strategic options that could significantly build shareholder value including: broad therapeutic discovery alliances; partnerships spanning other applications of the platform such as animal health, agriculture and industrial; and, strategic opportunities with companies with synergistic technology."