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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Almirall, S.A.    ALM   ES0157097017


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Almirall : closes $15 million strategic investment in Suneva Medical

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07/29/2015 | 03:35am EST

Barcelona, 29th July 2015

Almirall, the global pharmaceutical company based in Barcelona, has announced the closing of a $15 million in Series C equity investment in Suneva Medical, Inc., an innovative aesthetics leader that markets Bellafill®. This product is the only dermal filler on the market that is FDA approved proven to be safe and effective for the correction of moderate to severe, atrophic, distensible facial acne scars on the cheek, in patients over the age of 21 years. The deal will give Almirall a position on the SunevaBoard of Directors as Suneva continues with its plans to be active in prescription, aesthetics and medicalised OTC Dermatology.

Eduardo Sanchiz, Chief Executive Officer, commented: "We are very pleased to confirm this strategic investment in Suneva Medical. Almirall is looking for attractive business development opportunities in the dermatology field and this actually represents our first investment in the aesthetics area. We were attracted by the quality of Suneva´s portfolio and management team and this partnership will allow us to further build our understanding of the aesthetics dermatology market in the US."

Almirall completed a global collaboration with AstraZeneca in November 2014 to transfer the rights of Almirall's respiratory franchise. At the time of the transaction it was communicated that the aim of the deal was to provide a strong financial baseline from which to accelerate the strategy and to start focusing Almirall resources to become a top global player in Dermatology .

"We are enthusiastic about the potential this strategic relationship with Almirall creates as we continue to grow. We look forward to the opportunities with Almirall to energize and expand our business" said Nicholas L. Teti, Jr., Chairman and Chief Executive Officer at Suneva Medical. "The Almirall equity investment will accelerate the growth for our current product portfolio and allow us the flexibility to continue to build one of the industry's leading, fully integrated aesthetics companies."

About Almirall

Almirall is a global company based in Barcelona dedicated to providing valuable medicines and medical devices through its R&D, agreements and alliances. Our work covers the whole of the drug value chain. A consolidated growth allows us to devote our talent and efforts towards specialty areas and particularly to further grow as a leading Dermatology player. Our size enables us to be agile and flexible so that we can accomplish the purpose of taking our innovative products wherever they are needed.

Founded in 1943, Almirall is listed on the Spanish Stock Exchange (ticker: ALM) and it has become a source of value creation for society due to its vision and the commitment of its long-standing major shareholders. In 2014, its revenues totaled 1,407 million euros and, with more than 2,100 employees, it has gradually built up a trusted presence across Europe, as well as in the US and Mexico.

For more information, please visit www.almirall.com

Media contact: Investors Relations contact:

Cohn & Wolfe Almirall

Wendy Escalante Pablo Divasson del Fraile

wendy.escalante@cohnwolfe.com Tel.: 00 34 93 291 30 87

Tel.: (+34) 91 531 5723 / 620 23 02 83

About Suneva Medical, Inc.

Suneva Medical, Inc. is a privately-held aesthetics company focused on developing, manufacturing and commercializing novel, differentiated products for the general dermatology and aesthetic markets. The innovative aesthetics leader markets Bellafill®, the only dermal filler on the market that is approved by the U.S. Food and Drug Administration for the correction of nasolabial folds and moderate to severe, atrophic, distensible facial acne scars on the cheek in patients over the age of 21 years. In markets outside the U.S., Bellafill® is only approved for the correction of nasolabial folds. The company markets Bellafill® in the U.S. and Canada; ArteFill® in South Korea and Singapore; Regenica® skin care in the U.S. and Canada; and ReFissa® tretinoin cream in the U.S. ArteFill® was rebranded to Bellafill® in the U.S. to reflect the transformational outcomes this unique product can provide to patients seeking correction of their acne scars and nasolabial folds.www.sunevamedical.com.

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