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pharmascience.com

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Investments

3

Portfolio Exits

2

Partners & Customers

10

About Pharmascience

Pharmascience is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 60 countries. Pharmascience is a manufacturer and marketer of prescription, generic, over-the-counter, and behind-the-counter products as well as FDA approved Canadian-made injectables. In Canada alone, more than 45 million prescriptions a year are filled with Pharmascience products.

Headquarters Location

6111, Royalmount Avenue

Montreal, Quebec, H4P 2T4,

Canada

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Latest Pharmascience News

Federal Court rejects trial of common issues and allows pleadings amendment re: supply disruptions in abiraterone acetate amende...

Nov 28, 2022

To embed, copy and paste the code into your website or blog: <iframe frameborder="1" height="620" scrolling="auto" src="//www.jdsupra.com/post/contentViewerEmbed.aspx?fid=681ef8b4-0323-496c-8f17-d2a04645f48a" style="border: 2px solid #ccc; overflow-x:hidden !important; overflow:hidden;" width="100%"></iframe> As previously reported , the Federal Court found Janssen’s Canadian Patent No. 2,661,422 (“422 patent”) – which relates to treatment of prostate cancer in humans by co-administration of abiraterone acetate (marketed by Janssen as ZYTIGA) and prednisone – invalid in actions under the Patented Medicines (Notice of Compliance) Regulations (Regulations) against Apotex, Dr. Reddy’s, and Pharmascience. The Federal Court of Appeal upheld the invalidity of the 422 patent on appeal. In three separate actions, Apotex, Dr. Reddy’s, and Pharmascience seek damages from Janssen pursuant to amended section 8 of the Regulations for their lost sales of abiraterone acetate. Dr. Reddy’s and Apotex’s actions are scheduled to be tried consecutively in June 2023 which would be the first trial in actions under amended section 8 of the Regulations. The Pharmascience trial has not yet been scheduled. On October 27, 2022, Justice Southcott decided three motions addressing procedural issues in these proceedings. Court dismisses Janssen’s motion for common issues to be heard together The Court dismissed Janssen’s motion that evidence on issues common to the three actions should be heard together: Apotex Inc v Janssen Inc, 2022 FC 1473 . The Court disagreed with Janssen that the level of commonality between issues was sufficient. Each case requires the construction of a separate “but-for world” with different parameters (e.g., relevant time period and product dosages, as Dr. Reddy’s sells only the 250 mg product whereas Apotex and Pharmascience sell both 250 mg and 500 mg products). Additionally, evidence may differ between the separate but-for worlds as to what third-party generic manufacturers would have done in the abiraterone acetate market. Next, the Court weighed the prejudice asserted by each party. Janssen asserted that, absent a common hearing, it would (a) need to call evidence from five non-parties across multiple actions, (b) face different burdens to prove the plaintiffs’ activities in each trial, (c) incur expenses for the testimony of Janssen’s witnesses three separate times, and (d) face the risk of inconsistent factual findings. Justice Southcott found that the following categories of prejudice asserted by the plaintiffs “militate strongly” against a common hearing, and “outweigh the prejudice advanced by Janssen”: Adverse witnesses may be cross-examined by all plaintiffs, each with their own unique interests, with the potential for an adverse impact on an individual plaintiff’s approach to the litigation. Testimony regarding three different but-for worlds in one hearing would be “potentially confusing for both witnesses and the Court”. Pharmascience would be required to participate and be bound by a common issues trial 17 months earlier than the potential trial date (not yet scheduled) being discussed in that case. Considering the foregoing factors and Rule 105(a) of the Federal Courts Rules, Justice Southcott found that a common hearing “would not achieve the most efficient resolution of the matters in issue in the section 8 actions.” Court grants Janssen’s motion to amend Statement of Defence re: Apotex’s capacity to supply market In the Apotex action, the Court granted Janssen’s motion for leave to amend its Statement of Defence: Apotex Inc v Janssen Inc, 2022 FC 1477 . Janssen sought to particularize its pleading that Apotex did not have the ability and/or capacity to supply the market by adding reference to supply disruptions in the U.S. and Canadian markets experienced by Apotex in the real world. The Court found that the proposed amendments particularize real questions in controversy in Janssen’s existing pleading “surrounding alleged real-world events that have the potential to affect Apotex’s damages in the but-for world.” Though Janssen sought to plead real-world events that occurred after Apotex received approval, these events potentially affect the damages calculation as Apotex seeks damages beyond this approval date. While Apotex asserted that information produced on discovery dispels the proposed pleadings, Justice Southcott determined that the Court should not assess on a pleadings motion whether the amendment is consistent with this other evidence. Accordingly, Janssen’s proposed amendments have a reasonable prospect of success; establishing these facts and their relevance are issues for trial. The Court found that the interests of justice support allowing the amendments. While the motion was heard less than nine months before trial, there was no basis to conclude that the trial date would be lost, or that Janssen deliberately and strategically delayed pursuit of the amendments. Court allows Janssen’s appeal of refusals motion decision In a third motion, the Court also allowed Janssen’s appeal from an order of Associate Judge Milczynski that did not compel Apotex to answer certain discovery questions. Justice Southcott ordered Apotex to answer questions relating to Apotex’s U.S. activities that were also the subject of Janssen’s motion to amend: Apotex Inc v Janssen Inc, 2022 FC 1476 .

Pharmascience Investments

3 Investments

Pharmascience has made 3 investments. Their latest investment was in RDD Pharma as part of their Series B on November 11, 2017.

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Pharmascience Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/16/2017

Series B

RDD Pharma

$9.5M

Yes

3

9/20/2017

Series A

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$99M

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10

9/7/2016

Private Equity

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$99M

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10

Date

11/16/2017

9/20/2017

9/7/2016

Round

Series B

Series A

Private Equity

Company

RDD Pharma

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Amount

$9.5M

$99M

$99M

New?

Yes

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Co-Investors

Sources

3

10

10

Pharmascience Portfolio Exits

2 Portfolio Exits

Pharmascience has 2 portfolio exits. Their latest portfolio exit was RDD Pharma on October 07, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/7/2019

Merger

$99M

2

6/7/2019

Reverse Merger

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$99M

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10

Date

10/7/2019

6/7/2019

Exit

Merger

Reverse Merger

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

Pharmascience Acquisitions

1 Acquisition

Pharmascience acquired 1 company. Their latest acquisition was gera Therapeutics on July 15, 2011.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/15/2011

Debt

$99M

$12.3M

Acquired

Date

7/15/2011

Investment Stage

Debt

Companies

Valuation

$99M

Total Funding

$12.3M

Note

Acquired

Sources

Pharmascience Partners & Customers

10 Partners and customers

Pharmascience has 10 strategic partners and customers. Pharmascience recently partnered with PAION on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/30/2022

Licensor

Germany

​​​​​​​PAION AG REPORTS ON FISCAL YEAR 2021

In Canada , PAION and Pharmascience Inc. mutually agreed at the beginning of 2022 to terminate the license agreement from July 2014 , which granted Pharmascience Inc. exclusive rights to develop and commercialize remimazolam in Canada .

1

2/16/2021

Vendor

Germany

Pharmascience Inc. Selects Exasol to Provide End-Users with Lightning-Fast Access to Data

Pharmascience Inc. partnership with Exasol allows the company to achieve more flexibility to deal with structured and semi-structured data , bringing all data together in a 360-degree view for deeper insights .

1

8/31/2020

Client

Canada

Pharmascience Inc. reiterates its support to the Montreal Heart Institute's colchicine repurposing research studies in cardiovascular medicine and COVID-19

Pharmascience Inc. is proud of its continued collaboration with the Montreal Heart Institute 's Research Center , which led in 2019 to the landmark COLCOT I trial .

1

10/4/2018

Partner

Canada

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10

2/1/2018

Licensor

Ireland

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10

Date

3/30/2022

2/16/2021

8/31/2020

10/4/2018

2/1/2018

Type

Licensor

Vendor

Client

Partner

Licensor

Business Partner

Country

Germany

Germany

Canada

Canada

Ireland

News Snippet

​​​​​​​PAION AG REPORTS ON FISCAL YEAR 2021

In Canada , PAION and Pharmascience Inc. mutually agreed at the beginning of 2022 to terminate the license agreement from July 2014 , which granted Pharmascience Inc. exclusive rights to develop and commercialize remimazolam in Canada .

Pharmascience Inc. Selects Exasol to Provide End-Users with Lightning-Fast Access to Data

Pharmascience Inc. partnership with Exasol allows the company to achieve more flexibility to deal with structured and semi-structured data , bringing all data together in a 360-degree view for deeper insights .

Pharmascience Inc. reiterates its support to the Montreal Heart Institute's colchicine repurposing research studies in cardiovascular medicine and COVID-19

Pharmascience Inc. is proud of its continued collaboration with the Montreal Heart Institute 's Research Center , which led in 2019 to the landmark COLCOT I trial .

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Sources

1

1

1

10

10

Pharmascience Team

2 Team Members

Pharmascience has 2 team members, including current Chief Executive Officer, David E. Goodman.

Name

Work History

Title

Status

David E. Goodman

Chief Executive Officer

Current

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Name

David E. Goodman

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Work History

Title

Chief Executive Officer

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Status

Current

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