Background: Avadel Specialty Pharmaceuticals, LLC (“ASP”), based in Chesterfield, MO, is a pharmaceutical company engaged in the business of commercializing, marketing, and distributing NOCTIVA™ (desmopressin acetate) nasal spray.
Cassel Salpeter:
Served as financial advisor to the Company
Ran a competitive sales process, identifying and contacting over 100 strategic and financial parties
Provided assistance throughout all phases of the Chapter 11 Section 363 sales process, due diligence, and auction.
Challenges:
NOCTIVA™ had limited sales and required a full commercialization effort to make the drug financially successful
ASP entered into an unfavorable license agreement which potential bidders ultimately had to renegotiate
Outcome: On April 15, 2019, the court approved the sale of certain ASP assets to Roivant Sciences GmbH, headquartered in Basel, Switzerland.
https://www.casselsalpeter.com/wp-content/uploads/2019/11/Avadel_logo.jpg250250roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2019-04-01 17:22:402020-12-08 14:37:00ASP sold certain assets to Roivant Sciences GmbH
http://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.png00roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2019-01-16 21:55:262022-01-25 20:24:152018 Tech Year in Review
Background: InRegen, with headquarters in the Cayman Islands, is a leader in three-dimensional regenerative medicine.
Cassel Salpeter:
Served as exclusive financial advisor to the Company in its divestiture of the Neo Urinary conduit assets
Ran a competitive sales process for the assets and assisted the Company in evaluating offers received
Assisted in the structuring, negotiating, and closing of the transaction
Challenges:
Complex technology
Small universe of potential buyers
Outcome: On December 31, 2018, InRegen closed on the sale of the Neo Urinary Conduit assets to Orgagen, Inc.
https://www.casselsalpeter.com/wp-content/uploads/2019/11/InRegen_logo.jpg250250roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2018-12-01 17:02:532020-12-08 14:37:24inRegen sold certain assets to Orgagen
Background: Sancilio Pharmaceuticals Company, Inc. (“Sancilio”), based in Riviera Beach, FL, is an integrated specialty pharmaceutical company that develops, manufactures, and commercializes pharmaceutical products, over-the-counter and behind-the-counter products, and dietary supplements in the dental and women’s health markets.
Cassel Salpeter:
Served as financial advisor to the Company
Ran a competitive sales process, identifying and contacting over 300 strategic and financial parties
Provided assistance throughout all phases of the Chapter 11 Section 363 sales process, due diligence, and auction
Challenges:
Expedited sales timeline with less than six weeks to identify and solicit interest from potential bidders
Simultaneous, multiple sales processes for different divisions of the Company
Outcome: On August 1, 2018, the Ocean Blue division of Sancilio Pharmaceuticals Company, Inc. was purchased by K.D. Pharma Bexbach GmbH, headquartered in Bexbach, Germany.
https://www.casselsalpeter.com/wp-content/uploads/2019/11/SCI_logo.jpg250250roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2018-08-02 17:28:312020-12-08 14:37:32Sancilio sold certain assets to K.D. Pharma Bexbach
Background: Sancilio Pharmaceuticals Company, Inc. (“Sancilio”), based in Riviera Beach, FL, is an integrated specialty pharmaceutical company that develops, manufactures, and commercializes pharmaceutical products, over-the-counter and behind-the-counter products, and dietary supplements in the dental and women’s health markets.
Cassel Salpeter:
Served as financial advisor to the Company
Ran a competitive sales process, identifying and contacting over 300 strategic and financial parties
Provided assistance throughout all phases of the Chapter 11 Section 363 sales process, due diligence, and auction
Challenges:
Expedited sales timeline with less than six weeks to identify and solicit interest from potential bidders
Simultaneous, multiple sales processes for different divisions of the Company
Outcome: On August 8, 2018, Altemia and the ALT Platform, a Phase III ready product for the treatment of sickle cell disease; a prenatal and dental portfolio of prenatal vitamins and fluorides; and the plant and labs of Sancilio Pharmaceuticals Company, Inc., were purchased by Micelle Biopharma, Inc.
https://www.casselsalpeter.com/wp-content/uploads/2019/11/SCI_logo.jpg250250roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2018-08-02 17:25:072020-12-08 14:37:41Sancilio sold certain assets to Micelle Biopharma
