Quinnova Pharmaceuticals, Inc.
Headquartered in Newtown, PA, Quinnova Pharmaceuticals is a specialty pharmaceutical company focused on the development and commercialization of prescription drug products, using its proprietary and innovative topical drug delivery platforms. Quinnova’s current product development activities are aimed at using already-proven safe and effective pharmaceutical ingredients and incorporating them in elegant, unique, patent-protected, customer-friendly delivery systems. This strategy is augmented by the development of medical devices increasing the current portfolio of products. Quinnova focuses on new pharmaceutical products that have a relatively short bench-to-market timeline and a low-development risk profile. Its penetration of the U.S. market is accompanied by a growing presence in the international market, mostly through a business development strategy of licensing and utilizing partners to promote Quinnova products. www.quinnova.com
Investment Thesis — Quinnova has developed a strong pipeline of treatments for a variety of skin disorders. Two NDA products are in clinical trials and are expected to launch in 2011 and 2013, respectively. Sales projections for those drugs total $300M. The company has an experienced management team and capable sales force with established relationships with the medical community.
Market Opportunity — The U.S. therapeutic dermatology market was estimated at more than $6.4B in 2007 and was projected to grow to $8.9B by 2013, a 6% compound annual growth rate. Physicians are largely dissatisfi ed with traditional treatments based on antibiotics and corticosteroids. Quinnova products address segments with estimated markets of more than $3B.
Safeguard Board Member — James A. Datin
Financial Summary — Safeguard deployed $5.6M in Quinnova and has a 26% primary ownership position. Other investors include Thomas McNerny Partners and HIG Ventures.
Initial Investment — October 2009
Sector — Life Sciences, Specialty Pharmaceuticals
