New York-based Paul Capital Healthcare announced this morning that it will provide up to $100 Million to Phase III Development Company--"P3D"--which was recently established to help manage and fund late-stage clinical trials in the European Union.
"By funding P3D, we can provide a truly novel means of assisting pharmaceutical companies seeking external financing and risk sharing in the development of their late-stage drug pipelines. This is truly an important event in the healthcare product finance industry" said Ken Macleod, Ph.D., partner in the London office of Paul Capital Healthcare. "For years, our industry has been looking for ways to make this type of collaboration work, and we now have the right win-win structure. Companies can now benefit by accessing risk capital to support a compelling growth opportunity while minimizing the impact on internal financial resources, and Paul Capital Healthcare through P3D has an opportunity to participate in a diversified pool of royalties, development milestones and revenue interests with the potential for exciting returns."
- check out Paul Capital's release