Safeguard Scientifics Honored with Investment Deal of the Year at PACT Enterprise Awards

Posted by | May 5, 2011

Last night, I had the pleasure of attending the Greater Philadelphia Alliance for Capital and Technologies (PACT) 18th Annual Enterprise Awards. For nearly 60 years, the Safeguard brand has been synonymous with entrepreneurship and innovation. We have completed more than 20 IPOs, most recently NuPathe (Nasdaq: PATH) and Tengion (Nasdaq: TNGN); and more than 100 M&A transactions, most recently the acquisitions of Clarient and Avid Radiopharmaceuticals by GE Healthcare and Eli Lilly, respectively.

I am proud to announce that as a result of these efforts, Safeguard Scientifics was honored by PACT for Investment Deal of the Year for our role in creating value in, and subsequently facilitating the acquisition of former partner company Clarient by GE Healthcare.

In addition, former partner company Avid Radiopharmaceuticals was also a finalist for Investment Deal of the Year for its acquisition by Eli Lilly. Meanwhile, partner company NuPathe, which both completed an IPO and New Drug Application (NDA)  with the FDA for their leading drug candidate, Zelrix in 2010, won the Emerging Life Sciences Company Award.

In addition to these honors for Safeguard and its partner companies, Stephen M. Goodman, a member of our Technology Advisory Board, was the recipient of this year’s Legend Award for Lifetime Achievement.

All in all, it was a great night for the Safeguard family, as the Greater Philadelphia region recognized our hard work and dedication to building great businesses. We are incredibly proud of the teams at Clarient, Avid and NuPathe, and all that they have accomplished. We wish our partner companies — past and present — continued success in the pursuit of their missions. I would also like to personally thank Steve Goodman for his vision and guidance over the years. He has become an invaluable resource and great mentor for Safeguard’s technology partner companies.

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