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MEMPHASYS LIMITED. Capital/Financing Update 2008
65314_rns_2008-10-01_6f69001e-d343-4ad7-81ac-e10c47dacf72.pdf
Capital/Financing Update
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FOR IMMEDIATE RELEASE
Update on \$25m Acquisition of NxGen
SYDNEY, AUSTRALIA – 2 October, 2008 – The Board of NuSep (ASX: NSP) announced yesterday that it has entered into a binding Heads of Agreement to acquire NxGen Pharmaceuticals for \$25m. NxGen reported a net profit of \$2.1m on sales of \$4.8m in the year to 30 June 2008. This acquisition will be subject to shareholder approval.
Attached is a presentation which gives shareholders some more details on NxGen, its products, services and future prospects.
As noted before NuSep is undertaking due diligence and expects to report back to shareholders within the next month.
About NuSep
NuSep (ASX: NSP) is a publicly listed life sciences company that sells products into the global bioseparations market. The company has offices in both Sydney, Australia and Atlanta, USA.
With a 30 year heritage in biological separations, NuSep has forged a world class reputation for its innovative yet simple biological separation techniques including the world's first IVF sperm separation device. In short NuSep has redefined the BioSeparations market through innovation and simplification.
NuSep's world renowned research team has developed an extensive portfolio of patented products. In all, NuSep currently manufactures, distributes and sells 55 products to customers in the USA, Europe, Asia and Australia.
NuSep Products:
- Gels NuSep offers two precast gel ranges: iGels, innovative gels including long life gels with a 2 year shelf life: and NuBlu, high quality gels at an everyday price.
- Separation Instruments NuSep has developed two unique biological separation instruments. The first instrument released in February 2008 can separate biological samples into 8 fractions for use in the proteomic market. The second instrument separates sperm for fertility treatments such as IVF and is presently undergoing clinical trials.
- Biological Products NuSep supplies research grade biological products manufactured using its unique separation technologies. These products include human IgG and Albumin.
For more information about NuSep please visit the company's website www.NuSep.com
NuSep Ltd 22 Rodborough Rd Frenchs Forest NSW 2086 Postal Address P.O. Box 6126 Frenchs Forest NSW 2086 Contact Details Telephone +61 2 8977 9000 Facsimile +61 2 8977 9099 Email [email protected] Web www.nusep.com ABN 33 120 047 556
Contact: Prakash Patel Chief Financial Officer & Company Secretary +61 2 8977 9000 [email protected]
About NxGen
NxGen Pharmaceuticals is the largest Australian custom pharmaceutical company supplying 80% of the Australian market. NxGen's products includes the erectile dysfunction nasal spray, a natural hormone replacement therapy for women and a slow release implant designed to overcome drug and alcohol abuse.
For more information about NxGen please visit the company's website www.NxGen.com.au
Contact: Dr Alan Amodeo +61 2 9232 0862
NxGen Pharmaceuticals Pty Ltd
The Company
- NxGen is a fully diversified pharmaceuticals business
- NxGen is the largest developer and licensor of custom pharmaceuticals supplying approximately 80% of the Australian market.
- NxGen has seen significant growth over the last few years driven in part by the erectile dysfunctional nasal spray that it has developed on an exclusive basis for its medical clinic client.
- NxGen has developed a number of novel products which include a slow release implant designed to overcome drug and alcohol addiction.
The Financials
- NxGen is a highly profitable company generating a Net Profit of \$2.1m on sales of \$4.7m.
- NxGen is the dominant player in the markets it serves.
- NxGen has a strong pipeline of new products.
| \$ ( ) A |
2 0 0 8 A |
2 0 0 9 F |
|---|---|---|
| \$ m |
\$ m |
|
| T l R t o a e v e n u e |
\$ 4 7 |
\$ 4 5 |
| G P f i M i t r o s s r o a r g n |
\$ 3 8 |
\$ 4 3 |
| E B I T D A |
\$ 3 4 |
\$ 4 0 |
| f N P i t t e r o |
\$ 2 1 |
\$ 2 5 |
Financials and Forecasts(1)
____________________ (1) Based on management forecasts
NxGen Products
Cosmetic Products
- Dr Only Skin Treatment Range using unique active ingredients , many first to market in Australia including marine enzymes and ilatest peptide products in innovative transdermal bases
- Sun care – invisible zinc, true anti oxidant protection (Australian first) sunburn relief and after sun care
- Hair growth products with unique proprietary bases and hair removal products.
- Dental, mouth rinses and teeth whitening gels
Developmental Products
- NxGen is a leading product development Company specialising in the development and testing of pharmaceutical products.
- Primary new product development markets are the pharmaceutical, veterinary and personal care markets.
- NxGen develops new products for customers worldwide.
Erectile Dysfunction Products
- Australia's largest development and licensor of erectile dysfunction and premature ejaculation products. Injections, lozenges, nasal spray and a world first transdermal gel.
- Erectile dysfunction nasal spray current volume 5000 units per month Australia only through pharmacy.
- Currently undertaking global expansion.
Formulation of Other Products
- Customized medication dosages and administration, flavored medication and discontinued medication for animals
- Individual dosages, Flavour Specialisation, Geriatric Formulation, Nausea formulations, Paediatric formulations and lotions, Pain management formulation, Podiatric formulas
Current Revenue Mix
Revenue Split - 2008 Actual
Revenue Split - 2009 Forecast
Total Revenue: A\$ 4.7m
Total Revenue: A\$5.4m
Growth Opportunities
- Naltrexone Implants for addictive behavior. Effective against alcoholism, nicotine, gambling and opiate addictions. Clinical trials about to begin for alcohol, nicotine and opiate substance abuse. Future projects include implant for methamphetamine (ice) and cocaine addition.
- Prostate Herbal mixture. Currently available in Australia only. NxGen is assisting client to obtain a TGA license to market this product world wide.
- Local anesthetic Gel for minor surgical procedures and injection site for anesthesia in children. Also used in cosmetic medicine for anesthesia pre laser procedures. Phase 1 clinical trials about to start in a major Australian teaching hospital. Potential worldwide market. Orders already received from Japan, Indonesia, Korea and Poland.
- 2 Major international cosmetic houses in final negotiations to produce cosmetics for world wide distribution.
R&D, Testing and Warehousing Production Facilities
