MVM acquires Shareholding

RNS Number : 0963O

Alliance Pharma PLC

02 March 2009

 



For immediate release

2 March 2009

ALLIANCE PHARMA PLC

('Alliance Pharma' or 'the Company')

MVM acquires 9.3% shareholding and to join Board 

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, is pleased to announce that MVM Life Science Partners LLP ('MVM'), the specialist healthcare investor with more than $500 million under management, has acquired a 9.3% shareholding in the Company.  The relationship with MVM going forward will include the potential for MVM to lead equity fundraisings for any future product acquisitions undertaken by Alliance Pharma.  In recognition of its shareholding, MVM will be entitled to nominate a representative to the Alliance Pharma Board.

Alliance Pharma, which has built up a portfolio of 35 prescription brands across a range of therapeutic areas including dermatology and women's health, believes there is significant potential for product acquisitions in the short and medium term given restructuring in the global pharmaceutical industry and current asset values.

Alliance Pharma was informed on 27 February 2009 that MVM has acquired, through market purchases on 27 February 2009, 15,000,000 ordinary shares of 1p each in the Company. MVM's resultant shareholding is 15,000,000 ordinary shares, equivalent to 9.26 per cent of the Company's issued share capital. 

John Dawson, Alliance Pharma's Chief Executive, said: 'Following our refocusing and restructuring in mid 2007, we were pleased to be able to announce in January the strong trading position for 2008.  We wish to capitalise on any sound growth opportunities that become available and therefore we are delighted to welcome MVM as a shareholder of the Company. MVM is a highly experienced healthcare investor with significant funds under management and the potential to lead fundraisings for Alliance Pharma's future product acquisitions.' 

Thomas Casdagli, a partner of MVM Life Science Partners LLP, said: 'Alliance Pharma has built an excellent portfolio of healthcare brands to date and the team is very experienced at acquiring and integrating new products. We look forward to working with the Alliance Pharma team to evaluate future acquisition opportunities for the Company.'

For further information: 

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
www.alliancepharma.co.uk
Buchanan Communications	+ 44 (0) 20 7466 5000
Mark Court / Rebecca Skye Dietrich / Stasa Filiplic
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Brent Nabbs
Corporate Broking: David Poutney

About MVM Life Science Partners LLP 

MVM Life Science Partners LLP, founded in 1997, is one of the UK's leading Venture Capital firms and manages three funds totalling over US$500 million. MVM invests across the Life Sciences market including biopharmaceuticals, diagnostics, drug delivery, gene therapy, medical devices, OTC medicines, research tools and vaccines. MVM invests predominantly in start up and early stage companies based across Europe and in the US. The MVM team has broad experience across the Life Science and Venture Capital markets and maintains offices in London and Boston. For more information: www.mvmlifescience.com

About Alliance Pharma

Alliance Pharma, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The company has a strong track record of acquiring the rights to established niche brands and owns, or licences, the rights to 35 branded pharmaceutical products and continues to explore opportunities to expand the range.

Alliance Pharma's products are prescribed in the treatment of a wide range of conditions and include brands used in the treatment of dermatological conditions, in childbirth, in the prevention of heart disease, in Parkinson's disease, in nutrition and in nasal infections. Alliance Pharma's sales are mainly prescription driven. Its products are distributed to hospitals directly and to pharmaceutical wholesalers which service both hospital and retail pharmacies with their prescription requirements.

Alliance Pharma joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.

 

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