Leading Pharma gets $40 million infusion for growth
Generic maker Leading Pharma recently completed a financing transaction for $40 million of growth capital. The growth capital, led by Signet Healthcare Partners and Crestline Investors, will be used to expand the Fairfield, N.J.-based company’s pipeline and pay off debt.
“This investment allows us to accelerate the development of our robust pipeline to build a more comprehensive product portfolio,” CEO and co-founder Ronald Gold said. “We are excited to partner with prudent investors who have experience in the pharmaceutical industry and believe in our business model as well as our ability to develop and market new generic drugs.”
Alongside the funding, Leading Pharma announced that Signet Healthcare Partners managing director Nikhil Puri and Crestline Investors managing director Chris Semple will join the board of Leading’s parent company.
Leading began as a company that exclusively outsourced its product development work, but following its acquisition of Excellium Pharmaceutical in 2014, the company said it has its own research and development capabilities, as well as a 53,000-sq.-ft. manufacturing facility for solid oral pharmaceuticals.
“I believe Leading Pharma has the necessary building blocks in place, and is well positioned to capitalize on the vast opportunity that the generic pharma sector presents,” Puri said “Signet is very pleased to be partnering with the company at this important juncture, and we look forward to close collaboration with the leadership team at Leading Pharma”.
Crestline Investors’ Semple said, “Under the leadership of industry veterans Ron Gold and Rasik Gondalia, Leading Pharma is well- positioned to capitalize on its development strategy as the company has built an attractive pipeline of diverse, difficult-to-formulate products. We look forward to continued growth at the company under Ron and Rasik, who have both successfully founded and exited generic pharmaceutical companies in prior ventures.”
Lupin launches generic Ancobon
Lupin has added to its generics lineup with its version of Valeant Pharmaceuticals’ Ancobon (flucytosine) capsules. The drug is indicated to treat serious infections caused by candida and/or Cryptococcus.
The product will be available from Lupin in 250- and 500-mg dosage strengths. These dosage strengths had U.S. sales of roughly $48 million for the 12 months ended October 2017, according to IQVIA data.
Kathy Ireland to enter cannabidiol consumer products business
Level Brands announced Monday it has entered into a licensing agreement with Vancouver-based Isodiol International to develop Cannabidiol consumer products for kathy ireland Health & Wellness, a licensor to Charlotte, N.C.-based Level Brands, and for Level Brands subsidiary I'M1, the company's lifestyle brand for men.
"Isodiol is an innovative, progressive and pioneering company," stated Kathy Ireland, Level Brands' chairman emeritus and chief brand strategist. "Isodiol's success in CBD products derived from hemp are 99% pure, bioactive and pharmaceutical grade. The products include body balm, tincture, skincare, nano-mist and functional beverages. One of the many responsibilities in this new venture is, for me personally, to serve as educator-in-chief about cannabidiol, and how it is used by Isodiol. This company is leading the strategy of appropriate uses of hemp derivatives, and Isodiol products are free of [tetrahydrocannabinol, the chemical compound responsible for a euphoric high]. It's ironic that people find controversy in the powerfully useful hemp plant. Without THC, hemp has many natural and important uses, which are beneficial in countless ways. We need people to please understand, that hemp, without THC, is similar to a grape without fermentation."
[quote-from-article] "Level Brands is committed to exploring new and cutting edge technologies and products and bringing them to the American market," noted Martin Sumichrast, Level Brands' CEO. "Isodiol is a pioneer and a leader in the commercialization of a 99% pure, bioactive pharmaceutical grade CBD derived from the hemp plant. We are excited to work with Isodiol on developing the highest quality hemp derivatives-based consumable and topical skin care products for kathy ireland Health & Wellness and I'M1."
"We look forward to benefitting from Kathy Ireland's proven track record in product strategy and marketing," added Marcos Agramont, president Isodiol. "Ms. Ireland has an uncanny sense of her consumers' tastes and needs, which has led to their extraordinary loyalty and confidence in her products. Having brought over 17,000 diverse and popular products to market, she has captured the hearts and minds of millions of customers who actively and consistently support her brands. Ms. Ireland will bring tremendous energy into this burgeoning field, and we are eager to work with her and the incredible team assembled at Level Brands."
The new Isodiol kathy ireland Health & Wellness and I'M1 products are expected to debut in mid to late Spring 2018 and be available online and in select retail stores. Level Brands is committed to social responsibility, with each partner, client and licensee supporting its Millennium Development Goals to improve the condition of lives around the world.
Encore Endeavor One, Level Brands' corporate brand management and producer of experiential entertainment events, will provide strategic advisory services for the new wellness product lines.
kathy ireland Health & Wellness, I'M1 and EE1 are led in marketing and creative by Stephen Roseberry, president and chief marketing officer of kathy ireland Worldwide, together with that company's global creative director, Jon Carrasco.