Juni 2007

NextPharma Technologies Announces Completion of €30m Fund Raising and Acquisition of Bioserv Corporation

Surrey, UK, 27th June 2007

NextPharma Technologies, a leading provider of pharmaceutical product development, contract manufacturing and distribution outsourcing services, is today announcing a €30m fund raising round. It is also announcing the acquisition of Bioserv Corporation, an FDA approved leading contract manufacturing company, based in San Diego, California.

The fund raising will mark a significant step for the company in the expansion of its business worldwide. Of the funds raised, €16m is to be invested in expanding the capabilities of NextPharma’s leading injectable oncology medicines’ (cytotoxics) manufacturing site in Braine L’Alleud, Belgium. This investment will more than double the capacity of the facility to manufacture oncology medicines, which will come on stream to service North America, Europe and Japan in 2009. The expansion of the company’s manufacturing capacity dovetails with the 2006 investment in a new sterile product development centre that will be capable of manufacturing clinical trials materials for cytotoxic and biologic classes of medicines from the beginning of September 2007.

The acquisition of Bioserv compliments the existing sterile product development capabilities at Braine L’Alleud and provides a platform for developing NextPharma’s product development services and contract manufacturing business in North America.

The market for outsourcing injectable products is forecast to grow strongly at approximately 16.5% per year to reach $5.5 billion in 2011, driven by a 13% growth in biologics and a similar growth in cytotoxic medicines.

Bill Wedlake, CEO of NextPharma, commented “This fund raising enables the
expansion of our business to be a truly global player responding to the growing needs and direction of the pharmaceutical and biotechnology industries. We are very excited about the acquisition of Bioserv as it will create a platform to grow our sterile business in the United States and is a further step in our ambition to transform NextPharma into the world’s leading provider of sterile contract fill-finish, lyophilization and cold chain storage services. I am very impressed by the people I have met at Bioserv and their dedication to quality and customer service and welcome them to the NextPharma team.”

Jeanne and Glenn Dunham, the founders of Bioserv, will play a leading role in enabling the integration of Bioserv into NextPharma ensuring the continuity of high service delivery standards for Bioserv’s existing customers.

Jeanne Dunham Bioserv’s President and CEO commented, “We are delighted to be combining Bioserv with the complimentary capabilities of NextPharma which will accelerate our global reach, provide substantially increased services such as analytical services and the capability to handle cytotoxics and increased career opportunities for our employees.”

NextPharma develops, manufactures, packages, and distributes a broad range of products and formulations for its customers from tablets and capsules to antibiotics, hormones and controlled release medicines. It has an established leadership position in the high technology area of injectables manufacturing, with particular expertise in product development and manufacture of oncology medicines.

Bioserv provides a range of services including aseptic and non-aseptic bulk
formulation, filtration, filling and lyophilization services plus packaging, labelling, validation, documentation services, and controlled product and cold chain storage. Its customers include small and large corporations worldwide in the biotechnology, pharmaceutical, and medical device industries.

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