MONTREAL, QUEBEC--(Marketwired - Dec. 16, 2014) - Knight Therapeutics Inc. (TSX:GUD), through one of its wholly owned subsidiaries ("Knight"), announced today that it has committed to invest US$25 million into Domain Partners IX, L.P. ("Domain Fund") and US$10 million in Sanderling Ventures VII, L.P. ("Sanderling Fund"). These investments into proven successful life science funds complement Knight Therapeutics Inc.'s US$13 million investment in Sectoral, EUREUR19.5 million investment in Forbion, and CAD$30 million investment in Teralys. These five funds have combined assets under management in healthcare of approximately CAD$9 billion.
Domain Fund is managed by Domain Associates, L.L.C. ("Domain"). Domain invests in early-stage life science companies and often creates companies in which they are the initial, controlling shareholder. Domain has US$2.4 billion in assets under management with a significant focus on North America.
Sanderling Fund is managed by Sanderling Ventures, L.L.C. ("Sanderling"). Sanderling, founded in 1979, emphasizes early-stage financing and active management of its biomedical portfolio companies. Sanderling's active, hands-on involvement often satisfies a crucial need for careful allocation of scarce capital resources during the early phase of corporate development. "Sanderling is thrilled to partner with Knight in the development and distribution of innovative therapeutics and medical devices" said Robert McNeil, Managing Director of Sanderling.
"Domain has birthed many impressive life science companies over their eight fund history. Sanderling also has a very compelling track record of successful portfolio companies and innovative products. We are confident that our investments in these two proven funds will provide both a healthy return and a stream of innovative pharmaceuticals for Knight to commercialize" said Jonathan Ross Goodman, Director of Knight. "In total, we have now committed approximately $110 million of the $130 million we intend to invest into life science funds."
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. Knight Therapeutics Inc.'s shares began trading on TSX-V on March 3, 2014 and graduated to TSX on April 29, 2014 under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at http://www.gud-knight.com or at http://www.sedar.com.
Founded in 1979, Sanderling is among the oldest investment firms dedicated to building new biomedical companies. Sanderling's unique approach combines a specialized investment focus with active management and long-term commitment to ensure the highest rates of return for both its entrepreneurs and investors. Since its inception, Sanderling has supported over 90 biomedical companies from very early stage start-ups, through commercial development. Sanderling has offices in San Mateo, CA, San Diego, CA and Montreal, Canada. For more detailed information, visit www.sanderling.com.
Knight Therapeutics Forward Looking Statement
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Listing Application dated February 21, 2014 and two short form prospectuses, each of which is dated April 17, 2014. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.