Compass Biotechnologies Inc. is a specialty pharmaceutical company focused on building value in the following four key market areas: hepatitis anti-viral drugs and prophylactic vaccines, recombinant protein therapeutics called “biobetters,” a diagnostics, cytokine reagents and growth factor supplements business for the research community and the biotech manufacturing industry, and a new women’s healthcare franchise.
The company today outlined its plan of action to facilitate this new strategy. Compass management will direct the operations of these subsidiaries by implementing expertise to develop and commercialize the various product groupings.
“We have been fortunate over the past 6-9 months to be able to establish these four focal points for value creation and we have been able to create subsidiary companies that can participate in product development targeting multiple billion dollar markets,” Dr. Joseph Sinkule, president of Compass stated in the press release. “The four subsidiaries will be managed on a day-to-day basis by a team of talented development people with past experience in each of the four franchise areas. The board and senior management of Compass will provide overall finance, human resources, marketing/sales, medical, regulatory, and all other necessary support to these internationally-located operating subsidiaries. The value growth and revenue-generation created by each of the subsidiaries will be funneled to Compass and Compass shareholders.”
The diagnostics, reagents and supplements business will provide near-term revenue through sales and distribution of products to researchers and to manufacturers requiring bulk GMP-cytokines and growth factors such as recombinant human insulin (Compass Scientific).
The hepatitis franchise (C-Pharma Inc.) will capitalize on the low risk and rapid approval of generics drugs used to treat hepatitis B and hepatitis C, with the long-term upside potential of the company’s preventative vaccines against these diseases.
The biobetters franchise, (Compass Biotech), will utilize collaborative efforts to improve biosimilar proteins such as EPO and G-CSF to produce improved formulations and better products.
The new women’s health franchise (GenBioPro Inc.) will focus on commercialization of products based on unique medical and diagnostic needs for women around the world. Compass plans to fund the programs through its own efforts as well as through a registered offering planned for early 2012.The company has engaged advisors to raise approximately $5 million as a bridge financing in the first quarter of 2012 leading to a larger secondary offering later in 2012.
For more information visit www.compassbio.net
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