Norgine and SpePharm set up JV to commercialize portfolio of drugs

Independent Dutch firm Norgine BV and fellow Amsterdam-based SpePharm Holding BV have concluded a broad collaboration agreement under which the two companies have invested in a 50:50 joint venture, SpePharm AG, which has acquired the entire hospital product portfolio of SpePharm Holding, including Savene (dexrazoxane), MuGard, Xerotin, PROther and the Dantrium (dantrolene) brands.

The new JV will commercialize this entire product portfolio through Norgine's pharmaceutical infrastructure, which spans all of the major markets of Europe. SpePharm AG will seek to acquire further hospital based products which will also be sold through Norgine's commercial infrastructure. Financial terms were not disclosed.

As a consequence of the transactions, TVM Capital and Signet Healthcare Partners announced that SpePharm Holding has repaid all of its existing debt facilities and the two firms have acquired all shares previously owned by the debt providers.