M&A Deal Summary

Corridor Pharmaceuticals Acquires Immune Control

On June 17, 2010, Corridor Pharmaceuticals acquired life science company Immune Control from NewSpring Capital

Acquisition Highlights
  • This is Corridor Pharmaceuticals’ 1st transaction in the Life Science sector.
  • This is Corridor Pharmaceuticals’ 1st transaction in the United States.
  • This is Corridor Pharmaceuticals’ 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2010-06-17
Target Immune Control
Sector Life Science
Buyer(s) Corridor Pharmaceuticals
Sellers(s) NewSpring Capital
Deal Type Merger

Target

Immune Control

West Conshohocken, Pennsylvania, United States
Immune Control, is a life sciences company that is exploring the repurposing of specific serotonin antagonists to block serotonin receptors to stop the proliferation of dividing cells. The target market for the technology includes autoimmune diseases, transplant rejection, and some hematologic cancers. Immune Control is based in West Conshohocken, Pennsylvania.

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Buyer(S) 1

Buyer

Corridor Pharmaceuticals

Lutherville, Maryland, United States

Category Company
Founded 2007
Sector Life Science
DESCRIPTION

Corridor Pharmaceuticals is a biopharmaceutical company focused on the discovery and development of novel small molecule therapeutics for pulmonary arterial hypertension (PAH) and other vascular diseases based on its proprietary serotonin antagonist and arginase inhibition platforms.


DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1

Seller(S) 1

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 10 of 92
Sector: Life Science M&A 2 of 6
Type: Merger M&A Deals 1 of 1
State: Pennsylvania M&A 5 of 25
Country: United States M&A 10 of 91
Year: 2010 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-17 LifeShield

Yardley, Pennsylvania, United States

LifeShield is a provider of wireless home security and alarm monitoring systems for purchase via their online website and sales contact center. LifeShield's home security systems are designed as a complete, self-installed, low-cost wireless home security kit intended to replace a professionally installed perimeter security system. LifeShield was founded in 2004 and is based in Yardley, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-07 MinSec Holdings

Wallingford, Pennsylvania, United States

MinSec provide the full continuum of care with treatment for substance abuse that includes special emphasis on related criminal behaviors and relapse prevention.

Buy -