Vicarius Pharma has secured a CHF21m ($21.8m) investment through a Series A preferred stock financing from private investors.
Unlike existing European commercialization options that require innovator companies to either invest significant resources to build their own infrastructure, or to sign away rights and value to a licensing partner, Vicarius’ innovative approach enables U.S. companies to retain control of their assets and extract significantly greater value.
Vicarius acts as the innovator’s go-to-market organization for Europe, building a customer-facing organization and commercializing the asset in the innovator’s name, while absorbing all launch costs.
In a partnership with Vicarius, innovator companies retain strategic control over R&D, plus the flexibility to recover at any time the asset and dedicated organization built by Vicarius. Total returns achieved through Vicarius’ unique partnership model are expected to be 1.5 to 2 times greater than through traditional partnering strategies.
A NEW OFFERING BY AN EXPERIENCED TEAM
Vicarius Pharma is led by CEO Hans Peter Hasler (former COO of Elan and Biogen), and a team of senior executives with exceptional European commercialization experience. James C. Mullen, CEO of Patheon and former chief executive officer of Biogen, is an investor in this Series A round and executive chairman of Vicarius’ board.
“Commercializing novel products in Europe has always presented a challenge for emerging and mid-size companies,” said James C. Mullen.
“Vicarius has created a truly novel approach for companies to capture more value on their assets. The management team has extensive, proven track records in successfully ushering products through the commercialization process, resulting in successful launches and long-term sales growth. The economic returns and the strategic flexibility of partnerships with Vicarius will appeal to innovators, their boards and shareholders.”
VICARIUS’ BUSINESS MODEL BRIDGES THE GAP
Vicarius’ business model bridges the gap between traditional go-it-alone and out-licensing entry strategies for Europe. The company works to commercialize partner assets in Europe, providing strategic advice on regulatory, pricing and commercial strategy, holding the marketing authorization and taking legal and operational responsibility for the asset in Europe. Vicarius’ business model is particularly attractive for companies with specialty, rare disease and hospital products.