OXFORD, England, August 20, 2018 /PRNewswire/ --
PharmaVentures Ltd. ("PharmaVentures") is pleased to announce
that it acted as an independent adviser to SalvaRx Group plc
(SALV: LSE) ("SalvaRx") and Portage Biotech, Inc ("Portage"), on
the acquisition of its subsidiary SalvaRx Ltd by Portage. Subject
to regulatory and shareholder consent, Portage will acquire 100% of
SalvaRx Limited for an aggregate consideration of US$71.7 Million.
As SalvaRx is a related party of Portage, the transaction is
subject to the requirements of Alberta Securities Commission's
Multilateral Instrument 61-101 Protection of Minority Shareholders
in Special Transactions ("MI 61-101"). As a consequence, the
Transaction requires minority shareholder approval.
Although the transaction is exempt from the formal valuation
requirements of MI 61-101 pursuant to Section 5.5(a) PharmaVentures
was commissioned by SalvaRx and Portage to perform an independent
valuation (the "Valuation") of SalvaRx Limited. The Valuation,
dated July 23, 2018, provided the
parties with, amongst other things, a discussion of various
methodologies to value SalvaRx Limited as well as a range of
possible values.
For more information see the Portage Biotech press release:
https://www.prnewswire.com/news-releases/portage-to-acquire-salvarx-limited-300696910.html.
Adrian Dawkes, Managing Director,
PharmaVentures, commented; "We have worked previously with SalvaRx
and were pleased to provide our extensive valuation capabilities
and market knowledge to assist in this transaction."
Fintan Walton, Founder and Chief
Executive of PharmaVentures said, "PharmaVentures is trusted by
long established pharmaceutical companies, governments as well as
innovative biotechs like SalvaRx to provide high quality, robust
and comprehensively researched valuations to support their key
strategic transactions. We are pleased to have assisted SalvaRx in
their endeavors."
About Pharmaventures:
With over 26 years of successful dealmaking and advisory
work, PharmaVentures assists companies to achieve the best
deals. We have a proven track record of advising businesses
across the healthcare sector from top-tier pharmaceutical and
biotech companies, diagnostics, medtech and life science
research organisations.
Our extensive network of key contacts, industry experience and
market knowledge enables us to provide the best advice to our
clients in over 38 countries. To date we have successfully
completed over 700 mandates covering:
- Licensing
- M&A and Divestment
- Valuation
- Strategy
- Expert Opinion
We currently have several clients seeking to in-license or
acquire assets as well as multiple out-licensing and asset
divestment opportunities.
Contact:
enquiries@pharmaventures.com
