July 2010: East West Capital Partners leads investment in listed Australian medtech
company, ITL Limited
East West Capital Partners led an investment advising a strategic investor to acquire a meaningful stake in ITL Limited, a leading supplier of medical technology products. ITL, an Australian ASX-listed company, sells its products to over 35 countries globally (Stock ticker: ITD: AX).
Consistent with its philosophy, the Partners of EWCP have also invested in ITL. EWCP is working with management to realize ITL's full potential, while also examining options to expand the business into new areas.
Sanjay Sehgal of East West Capital was recently elected to the Board of the company. Sanjay also chairs the Audit Committee of ITL.
A management overhaul has begun with the resignations of the CEO, CFO and key top management already secured. ITL is profitable in the first 4 months of its fiscal year. A search for suitable replacements is underway. William Mobbs, a co-founder of ITL, has been appointed Executive Chairman and nominated as interim CEO.
ITL’s core business is in manufacturing products which assist in protecting the health and safety of healthcare workers. While specializing in blood-banking products, there are several other innovative products for general medical use. It holds several patents. ITL manufactures these products at its facility in Ipoh, Malaysia.
ITL also acts as a distributor to hospitals throughout Malaysia for several multinational medical technology manufacturers of specialty medical equipment including Siemens, Stryker, Mindray and others.
2010 revenues of ITL are in excess of US$35m.
For more information and contact, please visit www.itl-limited.com
October 2010: East West Capital Partners has entered into an agreement with a European Family office to jointly manage and fund LiPlasome Pharma ApS, a Danish oncology drug delivery company.
The strategy is to de-risk and accelerate the development of a novel third-generation liposomal delivery technology by shifting the manufacturing and conducting the later stage clinical validation in India.
Covered by a strong patent portfolio, the Company is expected to seek approval across a range of oncology drugs for targeted therapeutic delivery to solid tumors with much reduced side effects and therefore an improved therapeutic ratio.
The investment exemplifies a core EWCP belief that Intellectual Property can be commercialized in an affordable and expedient way by active cross-border development of IP (typically generated in the developed world) using existing infrastructure available in emerging markets.
For more information and contact, please visit www.liplasome.com
December 2012: East West Capital Partners participated in the fund raise of Scottish early stage Biopharmaceuticals company
Lamellar Biomedical raising $5.3 million.
The company is focused on the development of proprietary mimetics of lamellar bodies as treatments for dry eye disease, radiotherapy induced xerostomia or dry mouth and diseases which affect the normal functioning of the lungs including cystic fibrosis.
Lamellar bodies are complex lipid structures which function as the body’s method of controlling the viscosity of fluids which protect exposed surfaces of the body. These include mucous (lungs), tears (eyes) and saliva (mouth). Some applications of Lamellar Biomedical’s products will be regulated as class 2b medical devices,others as medicinal products.
Duncan Moore, has been elected as Chairman of Lamellar Biomedical. It is expected that many of the raw materials for the manufacture of Lamellar’s products will be sourced in Asia where the skills exist to manufacture high quality lipids in the volumes required by the company.
For more information and contact, please visit www.lamellar.com
March 2013: East West Capital Partners led a multi-million dollar Series A funding round joined by US-based investment firms GRI Fund, ASAP Ventures and prominent Angel Investors in cell therapy company, Seraxis Pte Ltd.
Seraxis uses proprietary cell culture technology to develop cell therapies to treat insulin-dependent diabetes, and has commenced operations. This start-up is headquartered in Singapore with a subsidiary, Seraxis Inc., in Germantown, Maryland USA. The company also has support from the foundation Dads Against Diabetes (DAD).
Sanjay Sehgal, Managing Partner & CEO of EWCP has been elected to the Board of Seraxis and currently serves as Chairman.
The US Subsidiary is a new tenant of the Germantown Innovation Center, a business incubator program of the Montgomery County, Department of Economic Development Business Innovation Network.
For more information and contact, please visit www.seraxis.com
November 2013: East West Capital Partners have completed a GBP 1.0million investment into the UK medical device company Braidlock Ltd.
Braidlock has pioneered the use of braided tubes as a means of securing external lines from sites of surgical intervention. The idea was developed at the Great Ormond Street Hospital, the world-famous children's hospital in London.
EWCP contributed 25% of the investment and have two board seats including the Chairman role.
Initially the product will be manufactured in the UK with higher volumes being manufactured in Southeast Asia. The company plans to establish a sales base in the UK through the NHS and expand into Europe.
There is already considerable demand for Braidlock's products in SE Asia and Korea.
Braidlock's are a cheap and secure way of external line fixation which can save the payer industry considerable costs compared to other commercially-available devices as well as making life easier for practitioners, both nurses and physicians.
For more information and contact, please visit www.braidlock.com