NEW YORK, March 13 /PRNewswire/ -- Jina Ventures is pleased to announce the acquisition of clinical pharmacology and research company, Swiss Pharma Contract (SPC) by leading contract research organization, Covance Inc . Jina Ventures was the exclusive financial advisor to SPC in the transaction, which provides Covance with the facilities and services of Basel, Switzerland area-based SPC.
"We are thrilled to have been an integral part of a deal that we believe adds real value to a well-established global player," said Ron Shah, Managing Partner, Jina Ventures. "There were bids for SPC from several global clinical research organizations, but Covance presented the most compelling opportunity for strategic long-term growth for SPC."
SPC was seed-funded by Novartis Venture Fund in 1998, and provides Phase I clinical trials to leading pharmaceutical clients and biotechnology companies in Europe, the United States and Asia. SPC's leadership includes Dr. Rolf Pokorny and Dr. Michael Seiberling, two industry veterans in the field of Phase I clinical trials.
Jina Ventures invigorated the M&A process by using a customized global auction, which resulted in interest from 14 leading companies, based in Europe, Asia and the U.S. As worldwide M&A volume has declined over the last 12 months, auctions continue to be an effective way to utilize global competitiveness to drive deal value and strategic fit.
On the heels of this transaction, Jina Ventures is poised for major growth in 2009, targeting the close of a second life sciences M&A transaction by mid-year and the launch of its second fund of US$200 million later this year. Jina's second fund is a cross border private equity fund designed to leverage global competitiveness for its portfolio companies in the US and India.
About Jina Ventures:
Founded in 2003, Jina Ventures is a New York-based private equity and M&A advisory firm. Over the past 6 years, Jina Ventures has grown into a full service private equity practice, with both principal investing and cross-border mergers and acquisitions. In addition to New York City, Jina Ventures also has offices in Mumbai, Tokyo, Bangkok and Singapore. More information can be found at http://www.jinaventures.com/.
