TVM Capital, Signet Healthcare Partners and Paul Capital Healthcare Enter into euro 26 Million Financing of SpePharm

    NEW YORK, MUNICH, Germany and AMSTERDAM, Netherlands, Aug. 21

/EMWNews/ -- Paul Capital Healthcare and SpePharm Holding, B.V., the

pan-European specialty pharmaceutical company, today announced that they

have entered into a euro 10 million revenue interest acquisition financing

agreement to fund SpePharm's acquisition of Dantrium(R) for Europe and

certain other markets, from Procter & Gamble Pharmaceuticals. At the same

time, TVM Capital, Signet Healthcare Partners and Paul Capital Healthcare

also announced the closing of a euro 16 million equity financing round to

fund the ongoing growth of SpePharm Holding, B.V. SpePharm's senior

management will also participate in this current equity financing.



    Jean-Francois Labbe, Chief Executive Officer of SpePharm, said:



    "We are very pleased and excited by this major step in the development

of our company. The investment made by Paul Capital Healthcare and the

increased financial commitment of our founding investors TVM Capital and

Signet Healthcare Partners will enable SpePharm to accelerate the

implementation of its strategy to become a leading pan-European specialty

pharmaceutical company. These transactions will provide SpePharm with the

resources to complete the build up of our sales and marketing

infrastructure, launch and promote our current product portfolio and

acquire rights to additional products in areas of therapeutic interest."



    Mr. Labbe continued:



    "Dantrium is a unique product used to treat malignant hyperthermia, a

life-threatening reaction to certain gaseous anesthetics. Dantrium's

significant clinical benefit fits perfectly with SpePharm's focus on

hospital products that provide substantial medical and economic value.

Procter & Gamble has established a solid commercial platform for Dantrium,

and we believe that SpePharm has the strategy and resources to enhance the

product's commercial and clinical value."



    Dr. Ken Macleod, a partner at Paul Capital Healthcare, said:



    "We believe that SpePharm's management team has an effective strategy

in place to become a leading specialty pharmaceutical company, meeting the

needs of patients and physicians throughout Europe. Paul Capital

Healthcare's investment in SpePharm is consistent with the Fund's mission

to provide growth capital to innovative companies. The Fund's investments

in SpePharm will help the Company achieve its strategic objectives and

underscores Paul Capital Healthcare's commitment to tailoring financial

vehicles that meet the unique needs of individual healthcare companies

throughout the world."



    James Gale, a founding partner and Managing Director of Signet

Healthcare Partners commented:



    "We are delighted that Paul Capital Healthcare has joined the SpePharm

investor group. The Fund's financial commitment to the Company validates

the substantial business opportunity for a pan-European specialty

pharmaceutical company. SpePharm is taking a leadership position in the

market for important therapeutic products with annual sales below euro

100M, which is underserved by large pharmaceutical companies. We believe

that SpePharm is very well positioned to create value for patients,

healthcare providers and the Company's investors."



    Dr. Hubert Birner, General Partner of TVM Capital added:



    "The investment by Paul Capital Healthcare will support SpePharm's

strategy of growth through active in-licensing and/or M&A. We believe that

the extensive business development network provided by Jean-Francois Labbe

and his team, Paul Capital Healthcare and the founding investors TVM

Capital and Signet HealthCare Partners will yield numerous high value

opportunities for SpePharm."

    About Paul Capital Healthcare and Paul Capital Partners



    Through its funds, Paul Capital Healthcare is one of the largest

dedicated healthcare investors globally, with more than $1.5 billion in

equity capital commitments and debt facilities under management. Combined,

the Paul Capital Healthcare funds have invested more than $960 million in

the pharmaceutical, biotechnology, and medical device sectors. These

investments are focused on commercial stage companies and products, and

consist of investments in the form of royalties, revenue interests, debt

and equity. Additional information on Paul Capital Healthcare can be found

at http://www.paulcapitalhealthcare.com.



    Paul Capital Partners manages $6.6 billion in equity capital

commitments for its three investment platforms, which include Paul Capital

Healthcare, Private Equity Secondaries and Top Tier Fund-of-Funds. The firm

has offices in New York, San Francisco, Paris, London, Hong Kong, and Sao

Paolo.



    About TVM Capital GmbH



    The TVM Capital Life Sciences Practice with euro 820 million ($1.26B

USD) under management is one of the largest venture and growth investors in

biotechnology and pharmaceuticals in Europe and the US, with a growing

presence in Asia. The Life Sciences team builds on the expertise,

experience, international approach and demonstrated success in more than

100 previous investments and almost 40 IPOs from our biotechnology and

pharmaceutical portfolio of companies. The team combines long-standing

international investment experience with pharmaceutical and biotech

operating track records with extensive networks and knowledge regarding

science, product discovery and development, manufacturing, marketing and

distribution, international commercialization and finance. Twenty years of

successful investing and value creation, in traditional early and

late-stage venture as well as venture growth and growth capital, makes the

TVM Capital Life Science Practice a unique partner for the needs of the

biotechnology and pharmaceutical industry. Founded in 1983, TVM Capital is

headquartered in Munich with offices in Boston and New York. More

information: http://www.tvm-capital.com.



    About Signet Healthcare Partners



    Signet Healthcare Partners was founded in 1998 with the establishment

of the Corporate Opportunities Funds. Since 1998, we have organized three

funds and completed investments in approximately 27 companies. The team,

comprised of five professionals with principal offices in New York City,

brings over 100 years experience of collective healthcare experience in the

specialty pharmaceutical, medical device, private equity and investment

banking businesses. For the past nine years, Signet Healthcare has

maintained its dedicated focus to diversified healthcare investing --

primarily serving as lead investor to expansion stage companies engaged in

specialty pharmaceuticals, medical devices and the pharma services

industries.



    About SpePharm Holding, BV



    SpePharm Holding, B.V. is a Dutch company with its registered office in

Amsterdam, and its European operations based in Paris, France. SpePharm is

an emerging pan-European specialty pharmaceutical company focused on

acquiring, registering and marketing high medical value specialty medicines

essentially for the hospital markets. Particular areas of therapeutic

interest are oncology, critical and supportive care. SpePharm was founded

in September 2006 by Jean-Francois Labbe together with leading life science

investment firms TVM Capital and Signet Healthcare Partners (part of the

Sanders Morris Harris Group). Jean-Francois Labbe is a former top executive

of Hoechst Marion Roussel and Parke Davis with over 30 years of experience

in international pharmaceutical management. To date SpePharm has an

established commercial presence in the UK, Germany, Italy, Benelux and the

Nordic area where it is in the process of launching its first product,

Loramyc(R), for the treatment of oropharyngeal candidiasis in

immune-compromised patients.






    For more information about SpePharm, please visit the web site at

http://www.spepharm.com.





    Contact Information



    SpePharm Holding, BV               Tel: +31 (0) 20 491 96 02

    Jean-Francois Labbe                Email: [email protected]



    College Hill (SpePharm inquiries)  Tel: +49 (0) 89 5700 1806

    Dr. Robert Mayer                   Email: [email protected]



    Paul Capital Healthcare            Tel: +44 (0) 20 7514 0754

    Ken Macleod, Partner               Email: [email protected]



    Lazar Partners (Paul Capital       Tel:  +1-212-867-1762

     Healthcare inquiries)

    Stephanie Seiler                   Tel:  +1-206-713-0124

                                       Email: [email protected]