How smart of Waggoner to place the subsidiary in Ireland where the taxes are lower and in a country that is very friendly to corporations to bring in big business to Ireland...coincidentally this is not the first connection to Ireland...Austrianova had one...
Irish millionaire funds development of Austrianova
11.07.2007
Vienna – Gerard Ryan, Irish millionaire and pharmacist, has funded a large part of Austrianova’s recent financing round, which totalled a35 million. Austrianova is developing a cell encapsulation technology, which could be used as a new method of drug delivery to treat various forms of cancer or metabolic diseases. Thomas Fischer, CFO of Austrianova, said to EuroBiotechNews: “We are delighted by this large amount of financing donated by a real pharma expert”. Until 2001, Ryan owned a number of pharmacies, which he sold to German Celesio AG for an undisclosed amount. Today, the Irish native is one of the main owners of the CRO Firecrest Clinical, based in Limerick.
The fundraising will enable Austrianova to complete Phase III trials for NovaCaps against pancreatic cancer and puts the company into a better negotiating position concerning a potential pharma deal. NovaCaps for pancreatic cancer has received orphan drug designation from the EMEA. Austrianova is currently commissioning a GMP manufacturing facility for Novacaps in anticipation of obtaining marketing authorisation for the product in 2009/2010.
Nice to see the serious players in Singapore give CiaB recognition... SingTel...massive communications company and its parent company Temasek Holdings...300 billion dollar investment company owned by the government of Singapore...
bull
