Advisor in Company Restructuring
December 2008
Announced: November 2008Location: Austin, TX
Chairman: Bill Cunningham
Chief Executive Officer: David Nance
Board of Directors: Bill Cunningham, Malcolm Gillis, Peter Barton Hutt, John Kapoor, Charles Long, David Nance, Robert Pearson
Introgen, a biopharmaceutical company focused on targeted molecular therapies for the treatment of cancer and other diseases, has a variety of assets which include Advexin, a gene therapy product for head and neck cancer currently at the BLA stage, a pipeline of additional oncology products, a biologics manufacturing business called ITS, and a portfolio of patents involving adenovirus, tumor suppressor genes and gene therapy. In November 2008, Introgen announced the engagement of Torreya as its advisor for the purpose of exploring a range of strategic opportunities for both the company and its programs. Torreya worked with management to assess strategic options and helped advise on a substantial restructuring of the company which involved taking a number of actions including instituting substantial reductions in expenditures, and the sale of Advexin, ITS and the adenovirus manufacturing patent portfolio.
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