Cassel Salpeter & Co. Advises Sancilio Pharmaceuticals, Debtor in Chapter 11 Sale of Business Assets

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced that it served as exclusive financial advisor to Sancilio Pharmaceuticals Company, Inc., debtor-in-possession in a Chapter 11, in two sales pending in Delaware. Sancilio Pharmaceuticals 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.

The Cassel Salpeter team, led by Chairman James S. Cassel, with the assistance of Managing Director Ira Z. Leiderman, Vice President Laura Salpeter and Analyst Julian Astrove, identified and contacted more than 300 strategic and financial parties as part of its work assisting the company.

“Running simultaneous, multiple sales processes for a company can be challenging in any transaction, let alone in a complex, fast-paced bankruptcy 363 sales process,” said Cassel, the firm’s chairman and cofounder. “I am proud of our team and the work accomplished that led to a successful outcome for Sancilio Pharmaceuticals.”

Cassel Salpeter worked with the debtor to run simultaneous, multiple sales processes with two separate stalking horse bidders for different divisions of the company. The sale of Altemia and the ALT Platform, a phase 3 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 the company were purchased by Micelle Biopharma, Inc.

The Ocean Blue division of the company was purchased by K.D. Pharma Bexbach GmbH.

MidCap Financial Services, LLC, the company’s lender and stalking horse bidder for all of the company assets except for Ocean Blue, was supportive of the transaction, the company and Cassel Salpeter during the entire bankruptcy and sales process.

Cassel Salpeter also worked closely with the debtors’ Chief Executive Officer, Geoffrey Glass, and debtors’ counsel, Greenberg Traurig lawyers Paul Keenan, John Dodd, Matt Miller and Sara Hoffman.

On July 23, 2018, the United States Bankruptcy Judge for the District of Delaware approved the sale of Sancilio Pharmaceuticals assets. The sale of Ocean Blue closed on August 1, 2018 and the sale of Altemia, the ALT Platform, the prenatal and dental portfolio and the plant and labs closed on August 8, 2018.

About Cassel Salpeter & Co.

Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at