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Celtic Pharmaceutical, a private equity firm focused on the biotechnology and pharmaceutical industries, has enroled the first patient into its Phase III trial of TDT 067, terbinafine in Transfersomes, for the topical treatment of onychomycosis or fungal nail infection.
The trial is a three-arm, double-blind study to be conducted in approximately 40 centres around the world.
It is powered to provide potentially registrational data on the efficacy, tolerability and safety of topically applied terbinafine delivered through the Transfersome targeted delivery technology over 48 weeks.
PPD, a contract research organisation, has been appointed to conduct the study.
Dr. Phoebe Rich
High Street Partners, a provider of business services, has completed a USD6m series B round of financing led by institutional venture capital investor Sigma Partners.
The funding round also included Baird Venture Partners and existing investor SVB Financial Group.
High Street Partners will use the proceeds to accelerate development of its technology platform and aggressively scale its sales and marketing operations in the US and Europe.
Two new members have been elected to the High Street Partners board of directors. Managing director Paul Flanagan (pictured) of Sigma Partners and partner Bill Filip of Baird Venture Partners will join existing board
Abterra, a company listed on the Singapore Exchange, has entered into a supplemental agreement with YA Global Master SPV, a fund managed by Yorkville Advisors, in connection with the equity line facility agreement dated 17 February, to increase the maximum investment amount from SGD20m to SGD50m.
In addition, YA Global will subscribe to an initial SGD3m series A loan note, with the option of Abterra to drawdown an additional three notes for a combined total of SGD12.0m.
The investment was advised out of Yorkville Advisors in Hong Kong.
Jaffe Lau, chief executive officer of Abterra, says: “By more than
Law firm Weil, Gotshal & Manges has added John Fadely to its Hong Kong office as a partner and a member of the firm’s global funds practice.
Fadely (pictured) has extensive experience in Asia representing international and Asia-based sponsors in the formation and restructuring of Asia-focused private investment funds, including private equity funds, real estate funds and hedge funds, as well as in the formation of joint venture investment vehicles and carried interest plans.
Fadely has also been active in representing institutional investors in private funds, including the formation of sizable co-investment vehicles.
Fadely, who is fluent in Mandarin Chinese,
Akeida Capital Management’s Blue Lake Power Biomass Facility in California has been certified for commercial operation by Pacific Gas & Electric after the successful completion of its trial period.
Akeida provided a senior secured credit facility to complete the plant’s refurbishment, commission the plant, provide working capital and build fuel inventory.
The project is now in commercial operation and generating revenue for its investors.
Akeida stepped in as the senior lender to the project in September 2009 and provided a convertible credit facility in order to continue the refurbishment of the plant after the plant’s original construction finance partner faced
Private equity firm Oak Hill Capital Partners has entered into a definitive agreement to acquire Dave & Buster’s from Wellspring Capital Management.
Oak Hill Capital is investing in partnership with Dave & Buster’s current management team, led by chief executive Steve King.
The aggregate value of the transaction is approximately USD570m.
Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s is the owner and operator of 56 high-volume restaurant/entertainment venues that provide customers with the opportunity to eat, drink and play all in one location. Dave & Buster’s currently has stores in 24 states and Canada.
King says:
The Boost Investment Group, owners of Boost Juice Bars and Salsa’s Fresh Mex Grill, has finalised an agreement for US-based private equity firm Riverside to acquire a majority stake in the firm.
Boost Juice Bars was started by Janine and Jeff Allis in 2000 and has expanded from one juice bar to over 250 stores in 14 countries.
Two years ago, Boost Investment Group acquired a majority stake in the growing fresh Mexican chain Salsa’s, taking it from four to 20 stores in the last 18 months.
“It has been an amazing journey over the past ten years, but
Law firms Hogan & Hartson and Lovells and completed the combination of their two firms.
The partners of both firms voted to combine the businesses in December 2009.
Hogan Lovells as more than 40 offices throughout the world, including associated offices in Croatia, Hungary and Saudi Arabia.
Warren Gorrell (pictured) and David Harris, co-chief executive officers, said the combination will offer clients expanded global capabilities.
“Hogan Lovells will afford clients a multi-national capability with an unmatched quality, range, and depth of legal services. We are confident that with our breadth of practice, deep industry knowledge, and one-team approach worldwide, Hogan
Arsenal Capital Partners, a New York-based private equity firm, has completed the sale of portfolio company Genovique Specialties, a provider of benzoate plasticizers, to Eastman Chemical.
To build Genovique, Arsenal acquired Velsicol Chemical in 2005 and since that time separated portions of its product lines into niche businesses.
The business unit which manufactures benzoic acid, sodium benzoate and specialty plasticizers that are performance based solutions for the adhesives and sealants, coatings, and PVC markets was re-branded in 2007 as Genovique Specialties.
Tim Zappala, chairman of Genovique and a partner of Arsenal Capital who co-heads the firm’s specialty chemicals and materials
Donald A. Steinbrugge (pictured), Managing Member
Agecroft Partners, LLC, predicts that United States public pension funds will increase their allocation to hedge funds at a faster rate than corporate pension plans due to sweeping new corporate pension legislation that is just beginning to take hold in the industry.
The new legislation does not directly impact public pension funds. Corporate pension fund allocations have historically targeted a higher risk and return profile than public pension funds, but that may be changing due to the passage of the 2006 Pension Protection Act that became effective in 2008.
This was the most dramatic
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