November 14, 2011
Susan L.N. Vogt, Distinguished Life Science Executive, Joins Johnston Blakely & Company Board of Advisors
March 28, 2011
Robert van Nostrand, Former OSI Pharmaceuticals CFO, Joins Johnston Blakely & Company
September 21, 2010
Johnston Blakely & Company Announces Introduction of S.T.A.T. MD™ Initiative
December 31, 2009
Anika Therapeutics Acquires Fidia Advanced Biopolymers
December 14, 2009
ProfSoft, Inc., Acquired by Thomson Reuters
June 19, 2009
Johnston Blakely Moderates June 19th MBC Panel Discussion "Biotechnology 2009: The State of the Industry and its Implications"
May 4, 2009
Venture Capital Veteran John Brooks Joins Life Science Investment Bank Johnston Blakely & Company
April 1, 2009
Physicians Interactive Acquires Medmanage Systems
February 26, 2009
Millipore Announces Technology Acquisition To Strengthen Drug Discovery Product Offering
January 13, 2009
Biotechnology Veteran Michael Webb Joins Boston-based Investment Bank as Senior Advisor
Susan L.N. Vogt, Distinguished Life Science Executive, Joins Johnston Blakely & Company Board of Advisors
BOSTON, MA (November 14, 2011) — Johnston Blakely & Company, LLC, the Boston-based life science investment bank, is pleased to announce that Susan L.N. Vogt has joined the firm’s Board of Advisors. In this role, Ms. Vogt will assist the firm on both internal and client-related initiatives, including transaction origination and execution.
“We are delighted to have Sue Vogt join the Johnston Blakely Circle of Friends,” commented Benjamin Conway, the firm’s founder and managing director. “Sue has extensive experience creating shareholder value by leading organizations through mergers, acquisitions, restructuring and alliances. Undoubtedly, her insights and accomplishments as an operating executive will serve the firm and its clients well.”
Most recently, Ms. Vogt was President and Chief Executive Officer of SeraCare Life Sciences, a publicly traded life sciences company that provides products and services used in the discovery, validation and production of human diagnostics and therapeutics. Recruited by its Board of Directors to join SeraCare while the company was in Chapter 11 proceedings, Ms. Vogt led a successful turnaround and repositioned SeraCare for growth and profitability. She joined SeraCare after a twenty-three year career with Millipore Corporation, the multinational bioscience company recently acquired by Merck KgaA. Ms. Vogt held multiple positions of increasing responsibility at Millipore, advancing to become Corporate Vice President and President of its $500 million BioPharmaceutical Division.
Ms. Vogt is a member of the Board of Directors of TAP Biosystems and Andor Technology plc (LSE: AND). Previously, she was a member of the Advisory Board for Bayer Healthcare/Diabetes Care Division, and a member of the Board of Directors of Justrite Manufacturing, Purepulse Technologies, and Laboratory Products Association. She has also served as a consultant to various public and private life science companies as well as private equity and venture capital firms.
About Johnston Blakely & Company, LLC
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Robert van Nostrand, Former OSI Pharmaceticals CFO, Joins Johnston Blakely & Company
BOSTON, MA (March 28, 2011) — Johnston Blakely & Company, LLC, the Boston-based life science investment bank, is pleased to announce that Robert Van Nostrand has joined the firm as advisor.
In this role, Mr. Van Nostrand will assist the firm on both internal and client-related initiatives, including transaction origination and execution. “We are delighted that Bob has decided to join the Johnston Blakely Circle of Friends,” commented Benjamin Conway, the firm’s founder and managing director. “His insight, experience and accomplishments are certain to be of enormous benefit to both the firm and its clients.”
Mr. Van Nostrand enjoyed a 21-year career with OSI Pharmaceuticals where he held multiple positions including Chief Financial Officer, Secretary and Treasurer. While with OSI, Mr. Van Nostrand successfully raised in excess of $1.4 billion through both debt and equity financings. He was also instrumental in completing multiple acquisitions with an aggregate value of over $300 million as well as several collaboration agreements with major pharmaceutical and biotechnology companies. OSI Pharmaceuticals was acquired by Japan’s Astellas Pharma for over $4.0 billion. More recently he has been active with several early-stage life science companies including AGI Dermatics and Aureon Biosciences.
Mr. Van Nostrand, a certified public accountant, is currently a member of the Board of Directors of Metabolix and Achillion Pharmaceuticals (NASDAQ: ACHN). In addition, he is a board member and former chairman of the New York Biotechnology Association.
About Johnston Blakely & Company, LLC
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Johnston Blakely & Company Announces Introduction of S.T.A.T. MD™ Initiative
John Brooks to Lead Firm’s New Service Offering
BOSTON, MA (September 21, 2010) — Johnston Blakely & Company, the Boston-based life science investment bank, is proud to announce the introduction of its latest service capability, S.T.A.T. MD™. A complement to the firm’s successful Strategy, Tactics and Transactions (S.T.A.T.) buyside program, the objective of this sellside initiative is to optimize a company’s operating profile and development programs prior to commencing a sale or financing.
“We strongly believe that working with companies ahead of a planned transaction to address strategic and tactical complexities greatly enhances the likelihood of success, both in terms of completion and valuation,” commented Benjamin Conway, founder of Johnston Blakely. The MD designation reflects the medical device focus of this program and is led by John L. Brooks, III, whose background includes cofounder and general partner of Prism VentureWorks, cofounder of three life sciences companies and senior operating roles with the Valleylab and Strato businesses of Pfizer.
“We are delighted and privileged to have someone of John Brooks’ caliber lead the S.T.A.T. MD Initiative,” stated Conway, continuing, “The perspectives and capabilities John brings to this effort will serve our clients extremely well.” Johnston Blakely plans to expand its S.T.A.T. program further with the planned introduction of S.T.A.T. Rx, its biopharmaceutical-oriented sellside capability.
About Johnston Blakely & Company, LLC
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Anika Therapeutics Acquires Fidia Advanced Biopolymers
Press Release Source: Anika Therapeutics, Inc., December 31, 2009
BEDFORD, Mass.--(BUSINESS WIRE)--Anika Therapeutics, Inc. (Nasdaq: ANIK - News) today announced that it has acquired Fidia Advanced Biopolymers, s.r.l. (“FAB”), a wholly-owned subsidiary of privately held Italian pharmaceutical company, Fidia Farmaceutici S.p.A. FAB provides hyaluronic acid-based (“HA”) products in several therapeutic areas including for the regeneration of connective and structural tissues damaged by injuries, aging or degenerative diseases. The Company also announced that it will develop its own direct U.S. sales capability to capture significantly higher margins from the domestic sales of MONOVISC™, its single-injection osteoarthritis treatment. Direct commercialization activities will also include the portfolio of FAB orthopedic products once approvals are achieved in the United States.
Under the terms of the sale and purchase agreement, Anika purchased FAB in exchange for USD $17.1 million in cash and 1,981,192 shares of its common stock. FAB recorded product revenue of approximately USD $11.1 million in the 12 months ended September 30, 2009. Anika anticipates that the acquisition will be accretive to earnings in the second year of combined operations.
FAB has approximately 50 employees at its headquarters in Abano Terme, Italy, which includes R&D and cell culture laboratories, as well as commercial and manufacturing operations. FAB’s unique, patented technology for modifying HA to produce fibers, films and textile biomaterials is used in a wide variety of medical device applications. FAB also pioneered in Europe the development of tissue engineered products for cartilage regeneration and treatment of burns and diabetic ulcers. FAB’s modified HA technology is also commercialized in a range of orthopedic, otolaryngology, and urogynecology products.
“FAB provides Anika with an exciting new growth platform and advances our vision to offer therapeutic products that go beyond pain relief to protect and restore damaged tissue,” said Charles H. Sherwood, Ph.D., Anika’s President and Chief Executive Officer. “FAB’s complementary regenerative technology allows us to expand Anika’s commercial product portfolio and development pipeline with innovative joint health and other therapeutic products. FAB also has a strong research ability that complements Anika’s excellent development and manufacturing resources.”
“FAB’s innovative orthopedic product portfolio will provide us with a critical mass of products to sell into the U.S. market along with MONOVISC upon its approval,” said Sherwood. “We filed the final module of our MONOVISC PMA containing the clinical data on December 24th, and we expect to receive U.S. FDA approval in the second half of 2010. Internationally, we are planning to leverage FAB’s strong distributor partners in Europe and Asia to enhance sales of MONOVISC and Anika’s other products in new and existing international markets.”
“The acquisition of FAB and the decision to build a direct Anika sales capability are two important, mutually reinforcing milestones that we expect to propel Anika to a new stage of growth. We are confident that our integrated team will realize significant upside potential from the combined company, and we look forward to welcoming FAB’s talented employees to Anika,” concluded Sherwood.
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Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services exclusively to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to delivery superior results for its clients. Member FINRA/SIPC.
Johnston Blakely Moderates June 19th MBC Panel Discussion "Biotechnology 2009: The State of the Industry and its Implications"
BOSTON, MA (June 19, 2009) — Despite the apparent turn of market fortunes more recently, by virtually any measure, it would appear that the life science industry may be poised for a period of profound structural transformation. Current market dislocations and the capital constraints caused by the market turmoil will likely result in a development pathway for life science companies that deviates significantly from historical experience. The future direction of the industry and its implications for company formation and financing were topics addressed during "Biotechnology 2009: The State of the Industry and its Implications" sponsored by the Massachusetts Biotechnology Council. Johnston Blakely & Company Managing Director Benjamin Conway presented his firm's view of the past and future. The presentation was followed by a panel discussion featuring:
Steven A. Elms, Managing Partner, Aisling Capital
Paul M. "Kip" Martha, M.D., CEO & Chief Medical Officer, Elixir Pharmaceuticals
Pieter Muntendam, M.D., President & CEO, BG Medicine
The panel discussions were moderated by Mike Webb, immediate past chairman of the Massachusetts Biotechnology Council, Executive Chairman of Virtify and Senior Advisor to Johnston Blakely.
For more information, go to the MBC site.
About Johnston Blakely & Company
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Venture Capital Veteran John Brooks Joins Life Science Investment Bank Johnston Blakely & Company
BOSTON, MA (May 5, 2009) — Johnston Blakely & Company, LLC, a Boston-based life science investment bank, is pleased to announce that John L. Brooks, III has joined the firm as senior advisor. In this role, Mr. Brooks will participate with the firm on internal and client-related activities including private equity placements and merger & acquisition advisory services, with a particular focus on medical device transactions.
"We are thrilled to welcome John Brooks to the Johnston Blakely family," remarked Johnston Blakely founder Benjamin Conway. "Not only does John bring to the firm and its clients a track record of success in both venture capital and the medical device industry, but his decision to join us is also a strong endorsement of Johnston Blakely and its capabilities."
John Brooks co-founded the venture capital firm Prism Venture Partners. During his ten-year tenure with Prism, the firm raised $1.25 billion across six venture funds. While with Prism, Mr. Brooks led the firm's healthcare investment activities including its role in the creation of companies such as Insulet Corporation. His previous experience also includes senior management positions at Pfizer, both with Pfizer/Valleylab as General Manager and with Pfizer/Strato. Mr. Brooks has held several vice president of finance and operations positions at successful venture-backed companies and spent over 10 years in public accounting and consulting focused on supporting venture backed entrepreneurs.
In addition to his current involvement on the boards of certain Prism portfolio companies, John Brooks is vice chairman of the Board of Trustees of the Joslin Diabetes Center where he is also chairman of the finance committee, a member of the steering committee of Mass Medic's MedTech Ignite (Inspiring Growth in New Innovative Technology Enterprises) program and is on the Draper BioAdvisory Board.
About Johnston Blakely & Company
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Physicians Interactive Acquires MedManage Systems
Extended Portfolio Meets Needs of Life Science Companies, Health Care Providers
LIBERTYVILLE, Illinois (April 1, 2009) — Physicians Interactive LLC (PI), a leader in digital sales and marketing solutions, today announced the acquisition of MedManage Systems Inc., the nation’s leading provider of online, on-demand prescription drug sampling. Under the agreement, MedManage is now a wholly owned subsidiary of Physicians Interactive LLC. Terms of the acquisition were not disclosed. PI is owned by Perseus LLC, a merchant bank and private equity fund management company.
The acquisition of MedManage, a PI partner, is part of PI’s vision to support the expanding digital sales and marketing information needs of life science companies and their health care professional customers.
“MedManage is a valuable addition to the PI family. The company provides more direct-to-practitioner eSampling solutions to more major pharmaceutical companies and their brands than anyone else in the industry,” said Donato Tramuto, CEO and Vice Chairman of Physicians Interactive Holdings, LLC. “We believe that this acquisition aligns nicely with the PI Digital strategy and with the financial backing of Perseus, LLC, allows us to expand our value proposition to our customers in the life sciences industry.”
Based in Bothell, Washington, MedManage’s eSampling solutions allow life sciences companies to efficiently reach more health care providers via its web-based Samples On Demand™ service which is powered by the company’s regulatory compliant electronic drug sampling platform. Health care providers are able to obtain consistent supplies of medication samples to meet the needs of their patients by accessing the Sample Service via PI and other web-based portals operated by independent providers of medically-relevant information and services, pharmaceutical companies and healthcare organizations. The Samples On Demand service is available to almost a quarter of a million eligible prescribers across the country. “Joining forces with PI brings together two recognized industry leaders to address the growing needs of pharmaceutical companies and healthcare providers for online, on-demand access to vital information and services,” said Cecil Kost, President and CEO, MedManage Systems, Inc. “We are excited about developing new and innovative solutions with PI while remaining committed to our industry-neutral, multi-channel deployment model for our Samples On Demand service.”
Today, health care professionals are turning to electronic media and online tools to support professional needs at a rising rate. Through a proprietary platform that provides services including eDetailing, eSampling, clinical updates and online communities, PI complements life science companies’ offline strategies while providing digital tools that help health care professionals meet the needs of their patients.
In addition to wholly owned services, PI has established unique data partnerships. PI and Allscripts are collaborating on innovative and novel offerings that leverage Allscripts’ strength as the leading provider of electronic health records and e-prescribing solutions. Future partnerships will look to further enhance the company’s data and analytics capabilities.
Under the terms of the acquisition agreement, MedManage will continue to be led by Kost, who will report to Tramuto.
About MedManage Systems
Started in 1999, MedManage is the leading online drug sampling provider in the industry. The company’s Samples On Demand™ service connects pharmaceutical manufacturers’ brands with their customers through a network of physician portals which provides users near ubiquitous access to medication samples. MedManage is the only company to enable eSampling for a pharmaceutical manufacturer on an enterprise-wide basis and was the first to deploy a fully electronic sample ordering method. The company headquarters are located outside Seattle, WA. Additional information on MedManage can be found at www.medmanagesystems.com.
About Physicians Interactive
Physicians Interactive is the leading digital sales and marketing partner for life science companies seeking to reach physicians and other health care professionals. Since 1996, PI has developed more than 1,000 online programs for more than 150 brands throughout every stage of the product life cycle. PI’s client list includes nearly 75 pharmaceutical, biotech and medical device companies, including nine of the top 10 worldwide pharmaceutical corporations. The company has become a trusted resource for health care professionals, evidenced by its database of providers, the largest in the industry. PI is owned by Perseus LLC, a merchant bank and private equity fund management company. For more information about Physicians Interactive, visit www.physiciansinteractive.com.
Johnston Blakely & Company represented MedManage Systems in this transaction. Go to www.johnstonblakely.com.
Millipore Announces Technology Acquisition to Strengthen Drug Discovery Product Offering
Purchase will accelerate development of multiplex immunoassays for cell signaling
BILLERICA, MA (February 26, 2009) — Millipore Corporation (NYSE: MIL), a leading provider of technologies, tools and services for the global life science industry, today announced that it has purchased the assets associated with Epitome Biosystems’ EpiTag™ technology. The purchase price was not disclosed.
The technology acquisition will enable Millipore’s Bioscience Division to expand its presence in the fast growing multiplex immunoassay market by offering scientists a broader portfolio of cell signaling assays that can be used with the Luminex xMAP® platform. Additionally, the acquisition will allow for the future development of other novel profiling technologies.
“Our multiplex offering is one of our fastest growing product lines and the acquisition of the EpiTag technology will help us to accelerate our product development and expand our growth prospects in this dynamic market,” said Rick Ryan, Vice President of Millipore’s Drug Discovery Business Unit. ”Our customers are interested in better understanding the roles that cell pathways play in major diseases such as cancer and diabetes. The EpiTag technology will allow us to develop multiplex immunoassays for cellular targets that were previously very difficult to detect and quantify. As a result, we will enable customers to leverage the power of the Luminex xMAP platform for cell signaling by providing antibodies and kits that are specific to the highest areas of interest for researchers.”
The ability of scientists to leverage multiplex cell signaling assays as a research tool has historically been limited due to the lack of highly-specific antibodies for intra-cellular targets. The EpiTag technology uses a bioinformatics-driven approach to develop high quality antibodies that are more specific and selective than other reagents on the market today. Using the EpiTag technology, Millipore expects to develop a new range of multiplex immunoassay kits that will enable researchers to more efficiently measure, detect and analyze proteins and cell signaling pathways.
Millipore is one of the industry’s pioneers in developing multiplex kits and reagents and is a leader in providing assays for markets such as immunology, inflammation, and metabolic diseases (diabetes, obesity, cardiovascular). The Company’s MILLIPLEX™ MAP assays provide scientists with the sensitivity, specificity, and reproducibility they require to tackle complex research problems. Additionally, Millipore offers unparalleled technical support—scientists working with scientists—to allow researchers to spend less time running their assays and spend more time advancing their research.
For additional information about Millipore’s broad range of multiplex immunoassay kits, please call 1-800-MILLIPORE or visit www.millipore.com/analytes.
About Millipore
Millipore (NYSE: MIL) is a Life Science leader providing cutting-edge technologies, tools, and services for bioscience research and biopharmaceutical manufacturing. As a strategic partner, we collaborate with customers to confront the world’s challenging human health issues. From research to development to production, our scientific expertise and innovative solutions help customers tackle their most complex problems and achieve their goals. Millipore Corporation is an S&P 500 company with more than 5,900 employees in 30 countries worldwide. For more information, visit www.millipore.com.
Biotechnology Veteran Michael Webb Joins Boston-based Investment Bank as Senior Advisor
BOSTON, MA (January 13, 2009) — Johnston Blakely & Company, LLC, a Boston-based life science investment bank, is pleased to announce that Michael D. Webb has joined the firm as senior advisor.
In this role, Mr. Webb will participate with the firm on internal and client-related activities including merger & acquisition advisory services and private equity placements, with a particular focus on biopharmaceutical transactions. "We are delighted to have someone of Mike's caliber join the Johnston Blakely team," said Johnston Blakely founder Benjamin Conway. "His extensive senior management experience and depth of sector knowledge will be of tremendous value to both the firm and its clients."
Mr. Webb was previously President & CEO of EPIX Pharmaceuticals where he completed over $225 million in financings, including its 1997 IPO, and raised an additional $150 million through corporate partnerships. Prior to EPIX, Mr. Webb was Senior Vice President, Worldwide Marketing and Strategic Planning for Ciba Diagnostics. Most recently he has been active with Ascent Therapeutics where as founder, president & CEO he organized the company and secured its initial $20 million in venture financing. Mr. Webb holds an M.B.A. with highest honors from Northwestern University's Kellogg Graduate School of Management.
About Johnston Blakely & Company
Johnston Blakely & Company, LLC is a Boston-based investment bank offering merger & acquisition-related financial advisory and private equity placement services to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Johnston Blakely is a registered broker/dealer and member of FINRA/SIPC. Go to www.johnstonblakely.com.
Johnston Blakely & Company, in Conjunction with MedPharma Partners, Announces the Launch of the Strategic Tactics and Transactions™ Initiative
BOSTON, MA (May 8, 2008) — Johnston Blakely & Company, LLC, a Boston-based life-science focused investment bank, together with the strategy consulting firm MedPharma Partners LLC, announces the launch of their newest advisory service, the Strategic Tactics and Transactions (“STAT”) Initiative.
This unique strategy and M&A advisory service integrates the extensive strategic advisory capabilities of MedPharma Partners with the M&A expertise and market insights of Johnston Blakely in a single engagement team. This provides a seamless interface between strategy and implementation and incorporates a range of perspectives that optimizes transaction execution. Clients that need to develop pragmatic strategies for growth or capabilities development will benefit from this joint offering by gaining deep strategic insights coupled with realistic implementation options from the M&A marketplace.
"By integrating the activities of the strategy consultants and investment bankers under one engagement umbrella, there is no retracing prior work, no second guessing decisions, no recreating the wheel," remarked Patrick Kager, managing principal of MedPharma Partners, continuing "This sharing of insights and perspectives vastly improves process efficiency and avoids the loss of momentum that results from work being tossed across the cultural divide separating consultants and bankers."
"At the same time, clients enjoy the significant benefits of working with two independent firms. The involvement of separate groups creates a dynamic tension that assures neither culture exerts undue influence on the process, resulting in a balanced, well-reasoned outcome," commented Benjamin Conway, Johnston Blakely managing director.
The comprehensive suite of related services offered under the STAT Initiative includes:
• Corporate strategy and capabilities development
• Acquisition & divestiture strategies
• Target identification & solicitation
• Due diligence investigations
• Exclusive sale mandates
• Transaction negotiation & structuring
• Post-acquisition integration services
Companies interested in learning more about the STAT Initiative are strongly encouraged to contact either Patrick Kager
at 978-505-5744 or Benjamin Conway
at 978-526-4014.
About MedPharma Partners LLC
MedPharma Partners provides an array of management consulting services, including applied strategy, program management, benchmarking, and business and corporate development services, to pharmaceutical, biotechnology, medical device, and technology-enabled healthcare service organizations of all sizes with a particular emphasis on R&D, supply chain, marketing and general management functions.
About Johnston Blakely & Company, LLC
Johnston Blakely & Company, LLC is a Boston-based investment bank offering private equity placement and merger & acquisition-related financial advisory services exclusively to companies in the life science sector. The firm incorporates the venture capital tradition of comprehensive company involvement into investment banking engagements to deliver superior results for its clients. More than investment banking...inVenture banking™.
Member FINRA/SIPC. Go to www.johnstonblakely.com.