SAN DIEGO, CA and VANCOUVER, BC, Dec. 28, 2011 /CNW/ - Protox
Therapeutics Inc. ("Protox", TSX: PRX), a developer of innovative
products for the treatment of urological diseases, today announced that
it has closed the previously announced additional investment of CDN
$8.3M by Warburg Pincus pursuant to the terms of the Investment
Agreement dated September 28, 2010 (the "Investment Agreement").
Under the Investment Agreement, Warburg Pincus Private Equity X, L.P.
and Warburg Pincus X Partners, L.P. (together "Warburg Pincus") have
the right to invest up to CDN $35 million in Protox. An initial
investment of CDN $10 million closed November 19, 2010, for an
aggregate investment by Warburg Pincus of CDN $18.3M when combined with
the current investment. Warburg Pincus has the right to make further
additional investments under the terms of the Investment Agreement.
About Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm has
more than $35 billion in assets under management. Its active portfolio
of more than 125 companies is highly diversified by stage, sector, and
geography. Warburg Pincus is a growth investor and an experienced
partner to management teams seeking to build durable companies with
sustainable value. Founded in 1966, Warburg Pincus has raised 13
private equity funds which have invested more than $40 billion in over
650 companies in more than 30 countries.
Since inception, Warburg Pincus has invested approximately $7.5 billion
in healthcare companies, including investments in American Medical
Systems (NASDAQ: AMMD), Bausch + Lomb, Coventry Health Care (NYSE:
CVH), Euromedic International (acquired by Merrill Lynch Global Private
Equity and Ares Life Sciences in 2008), Harbin Pharmaceuticals (SHA:
600664), InterMune (NASDAQ: ITMN), Lepu Medical Technology (SHE:
300003), RegionalCare Hospital Partners, ReSearch Pharmaceutical
Services, Rural/Metro Corporation and Tornier (NASDAQ: TRNX).
The firm is headquartered in New York with offices in Amsterdam,
Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai,
San Francisco, Sào Paulo and Shanghai. For more information, please
Protox Therapeutics is a developer of innovative products for the
treatment of urological diseases. Protox's lead program, PRX302
(PORxin), achieved positive results from its Phase 2b placebo
controlled trial called TRIUMPH, to treat benign prostatic hyperplasia
(BPH or enlarged prostate). Protox has partnered with Kissei
Pharmaceuticals for the development and commercialization of PRX302 in
Japan. For more information, please visit www.protoxtherapuetics.com.
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements, and therefore these statements should not
be read as guarantees of future performance or results. All
forward-looking statements are based on Protox' current beliefs as well
as assumptions made by and information currently available to Protox
and relate to, among other things, closing of the Subsequent
Investment, anticipated financial performance, business prospects,
strategies, regulatory developments, market acceptance and future
commitments. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Protox in its public securities filings;
actual events may differ materially from current expectations. Protox
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Protox Therapeutics Inc.
For further information: