© AzurPharma Ltd.
Company Number 399192
Dublin, Ireland, June 8, 2005 – Azur Pharma Limited (“Azur Pharma”) today announced that it has successfully completed a private placement of equity securities in an amount of Euro 40 million (US$50 million). The private placement was arranged through Davy Corporate Finance Limited.
Azur Pharma was founded in March 2005 with the mission of creating a U.S. pharmaceutical business focused on developing and marketing products in specialist therapeutic areas.
Through selective acquisitions, Azur Pharma will build a portfolio of established pharmaceutical brands and enhance their value through focused sales and marketing activities and the application of drug delivery technologies. As the company develops, Azur Pharma expects to add late-stage clinical development projects specific to its therapeutic areas of interest.
“Our experienced management team, significant financial resources and clear strategy provide a strong platform to execute our mission”, commented Mr. Seamus Mulligan, Azur Pharma’s Chairman and Chief Executive Officer.
Mr. Mulligan was most recently a senior executive at Elan Corporation, plc (“Elan”). Mr. Mulligan was closely involved with Elan’s evolution from a drug delivery business to a research focused pharmaceutical organisation. Mr. Mulligan is a pharmacist and was the inventor/co-inventor of many of Elan’s key drug delivery technologies and products. During his 20-year tenure at Elan, Mr. Mulligan’s responsibilities ranged from leading its U.S. division and subsequently its drug delivery unit, to managing its group-wide business and corporate development activities. Most recently, Mr. Mulligan led Elan’s asset disposal program, which realised over US$2 billion in proceeds from the divestiture of assets in a short time frame.
Azur Pharma’s initial leadership team also includes co-founders, Mr. David Brabazon, Chief Financial Officer, and Mr. Eunan Maguire, Senior Vice President of Business and Corporate Development. Mr. Brabazon most recently worked for the National Treasury Management Agency in Ireland. Previously he was Vice President of Finance for Elan where his responsibilities included the financial control, taxation and treasury functions. Mr. Maguire most recently worked for King Pharmaceuticals Inc as Vice President of Business Development. Previously he was Vice President of Strategic Planning for Elan where he worked on a variety of pharmaceutical projects over a seven year period.
About Azur Pharma
Azur Pharma is a privately held pharmaceutical company dedicated to enhancing patients’ lives by developing and marketing pharmaceutical products in specialist therapeutic areas. Azur Pharma’s strategy is to identify, evaluate, selectively acquire and enhance the value of late stage development and FDA approved pharmaceutical products.
Website
www.azurpharma.com
Media Contact
Mr. Ray Gordon, MRPA Kinman Consultants
Telephone: +353-1-6788330/+353-87-2417373
E-mail: ray@mrpakinman.ie