Establishes New Subsidiary to Commercialize Product
Appoints Industry Leaders to Executive Positions
NEWTOWN, Pa., Aug. 15, 2012 /PRNewswire/ -- Renaissance Pharma, Inc. ("Renaissance"), a RoundTable Healthcare Partners portfolio company, announced today that it has acquired certain assets and the US rights to manufacture, market and sell Denavir® (1% penciclovir cream) from investment funds managed by Deerfield Management Company ("Deerfield") and New American Therapeutics, Inc., a Deerfield portfolio company. Denavir is a topical antiviral indicated for the treatment of recurrent herpes labialis (cold sores) in adults and children 12 years of age and older. More information on Denavir can be found at www.denavir.com.
Renaissance is focused on acquiring, developing, manufacturing, and marketing niche prescription pharmaceuticals across a variety of dosage forms and therapeutic categories. With the acquisition of Denavir, Renaissance has established a new subsidiary, Prestium Pharma ("Prestium"), focused on commercializing branded products in the US. Pierre Frechette, the President and CEO of Renaissance stated, "We are enthusiastic about the acquisition of our first branded product and the creation of Prestium, and look forward to further expanding our product portfolio."
To support the execution of Renaissance's strategy, two key individuals have been appointed to the Renaissance team. John Denman, a pharmaceutical industry veteran for over 25 years, has been named General Manager of Prestium. Before joining Prestium, Mr. Denman held increasing levels of responsibility at Teva Pharmaceuticals where he most recently was responsible for all aspects of its US commercial operations including sales, marketing, R&D, and business development. Prior to Teva, Mr. Denman was at Sandoz in a senior level marketing position.
"I am thrilled to join Prestium and to have Denavir as our first branded offering," said Mr. Denman. "Denavir is an important product as it offers patients a proven therapy for the treatment of cold sores, an embarrassing, uncomfortable, and often unpredictable condition."
Earlier this year, Ray Canole joined Renaissance as Vice President of Business Development. Mr. Canole worked in a variety of business and corporate development roles for the past ten years at Perrigo Company, where he helped lead over 20 acquisitions and numerous product collaborations for their prescription drug segment.
"This is an exciting time in the specialty pharmaceutical market, and I am pleased to have the opportunity to work with such an accomplished group of healthcare executives at both Renaissance and RoundTable," commented Mr. Canole. "With the acquisition of Denavir, Prestium is off to a great start and we are already at work pursuing additional product acquisitions."
About Renaissance Pharma, Inc.
Renaissance Pharma, Inc., Newtown, PA, is a RoundTable Healthcare Partners portfolio company founded in 2010. Renaissance is focused on acquiring, developing, manufacturing and marketing high quality, niche generic prescription pharmaceuticals across a variety of dosage forms and therapeutic categories.
Prestium Pharma, Inc., a subsidiary of Renaissance, focuses on acquiring and selling in-market branded prescription products, including mature brands with or without generic competition. More information about Renaissance can be found at www.prestiumpharma.com.