In 2008 LGB Investments was introduced to BioQuiddity through its exclusive international network. The team was attracted by the strong value proposition of Inc.’s innovative proprietary drug delivery system.

BioQuiddity logo

Strategic manufacturing partnership secured

Additional fundraisings were completed over the next five years and LGB Investments was closely involved in engaging with the firm’s existing investor base and presenting the opportunity to prospective investors. The additional finance was to support the company as it enhanced its product range and secured market approval for its medical devices. One key outcome was a strategic partnership agreed in April 2013 with manufacturer West Pharmaceutical Services for device assembly, which was a strong endorsement of the company’s commercial potential.

LGB Investments introduces European distribution partner

As a result of the strategic manufacturing partnership, the company was able to conclude a $15m funding round in which West Pharmaceutical Services participated. With strong manufacturing support in place, BioQuiddity’s focus turned to securing its first distribution partner, which was required to enable the company to license its products outside of the US. LGB Investments leveraged its exclusive and extensive global network of investors and advisers to introduce a key distribution partner for Europe.

Key US distribution agreement negotiated

The establishment of the European distribution partnership was the catalyst for discussions with potential distributors in other regions, notably in the US, where BioQuiddity successfully negotiated a strategic license and supply agreement with Sandoz, a division of Novartis. Since then, BioQuiddity has negotiated numerous commercial partnerships covering up to five drugs in 42 countries, has introduced its products in Europe and is set to deliver truly global income streams in 2019.

Reaping the rewards of long term investment

The company has strengthened its management team and broadened its structure, investing in specialists in key operational areas to grow the business. Its name change to BioQ Pharma was a strategic move to position itself in the pharmaceutical rather than medical device sector and secure a higher valuation. Notwithstanding the long period that LGB Investments and its clients have been working with BioQ Pharma, the potential upside for our investors and the company could be significant as the company is moving closer to an exit.

Key facts

April 2013

Strategic partnership agreed with manufacturer West Pharmaceutical services for device assembly

$15m

As a result of securing the first strategic partnership a $15m funding round was concluded

5

Numerous additional commercial partnerships negotiated to distribute five of BioQuiditty’s drugs

42

BioQuiddity distributes its products into 42 different countries

I am happy to have been a client of LGB Investments since 2007 and find LGB’s assumption of the burden of due diligence on SMEs a very satisfactory facet of its service.  I have no hesitation in commending the firm to anyone looking for the benefit of the personal  – and focused – attention to be expected of a first rate boutique.

Anthony Rentoul
Investments Client