Press releases

Release issued 9th May 2003

MELTON MOWBRAY, England--May 9, 2003--

A new and unique service providing strategic and licensing support to biopharmaceutical and medical companies

Bridgehead Technologies Ltd and Pharmalicensing Ltd, two leading biopharmaceutical business development companies have announced a merger.

Bridgehead Technologies Ltd is a leading specialist international consultancy providing due diligence, valuation and strategy advice to the life sciences and medical technologies sectors. Pharmalicensing Ltd is the leading global online partner for biopharmaceutical business development.

The merger will form The Bridgehead Pharmalicensing Group Ltd. Bridgehead Technologies and Pharmalicensing will continue to trade under their own names, capitalising on the years of loyalty built by each brand. In addition, a powerful new product licensing and technology transfer service for medical and life sciences companies will be launched, backed by their joint expertise.

In making the announcement, Dr Fiona Paton, Chairman of the new company said, "The merger represents a strategic move in a business-critical discipline. We have identified product sourcing in the pharmaceutical, medical and life sciences industries as a major growth area in the industry".

"Late last year we strengthened our service offering by adding a global pricing and reimbursement capability. Now clients will find the competitive edge we bring even further sharpened by this merger", added David Alcraft, Director of Bridgehead Technologies.

Bringing dealmakers together

"We are delighted to have the opportunity to work together", said Steve Poile, founder and Managing Director of Pharmalicensing, "The depth and breadth of the combined group will be unrivalled. In addition to offering a more extensive range of online business development support tools, the new company will be uniquely positioned not only to bring dealmakers together but also to improve the efficiency of the whole licensing and acquisition process for client companies."

International reach

The Group will have offices and associates in all major countries; international headquarters will be in the UK.

Full service

The Group will offer both strategic and implementation services through all phases of product development and commercial lifecycles. By combining the resources and skills of the two companies, it will be in the position to offer high- level support in areas of portfolio decision-making, product/corporate evaluation, intellectual property strategy, due diligence, setting and negotiating deal terms and pricing/reimbursement.

Global strategy

This merger is part of a strategy to build on the individual companies' strengths and to develop a full service business, supplying the needs of companies world wide, ranging from small biotechnology start-ups to leading pharmaceutical and medical companies.

Contacts

Bridgehead Technologies Ltd, David Alcraft, + 44 (0) 1664 503700, alcraft@bridgehead.uk.com, www.bridgehead.uk.com,

or

Pharmalicensing Ltd, Steve Poile, + 44 (0) 1904 477900, steve@pharmalicensing.com, www.pharmalicensing.com

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