KUALA LUMPUR, Nov 7 (Bernama) -- Singapore’s investment company, Temasek acquired a minority stake in Aerogen through the purchase of a secondary share interest but the financial terms of the transaction were not disclosed.
According to a statement, the Ireland based Aerogen specialises in the design, manufacture and commercialisation of aerosol drug delivery systems. The company’s technology already used in over 75 countries.
Founder and CEO of Aerogen, John Power said: “We are excited to realize the growth opportunities this collaboration will bring. Temasek, our partner of choice, has deep global and sector expertise, which will accelerate our market penetration.”
Following the closing of the transaction, Abhijeet Lele, Temasek’s Managing Director of Investment and Steven Gannon, former SVP and CFO of Aptalis, will join Aerogen’s board of directors.
Lele and Gannon’s global experience in developmental and commercial stage medtech and pharma companies will help the company to be the standard of care for acute care aerosol drug delivery and the launch of the drug device solutions in development by Aerogen Pharma (subsidiary).
The subsidiary – a Specialty Pharmaceutical Business unit based in Galway and San Mateo, California – is harnessing Aerogen’s proprietary vibrating mesh technology to develop drug-device combination products. These new products seek to improve the efficacy of specific drugs by precision targeting their delivery to the lungs.
More details at www.aerogen.com
-- BERNAMA
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