Celtic Therapeutics announces first closing and management changes

The management team plans to deploy the capital from this first closing for initial product acquisitions that are already well advanced in the negotiation and due diligence process, while continuing to focus on raising funds towards their $700 million objective.

Celtic Therapeutics Holdings is a successor fund to Celtic Pharmaceutical Holdings. Celtic Therapeutics is led by biotechnology industry veteran Stephen Evans-Freke and Peter Corr, former senior vice president for science and technology and head of R&D at Pfizer and former president of R&D at Warner Lambert/Parke Davis Pharmaceuticals.

Also, Michael Forer has joined as partner in charge of European origination, based in Lausanne, Switzerland. Mr Forer was previously co-founder of Bioscience Managers, a London-based advisory and private equity firm and, prior to that, a member of the life science investment team at Rothschild Asset Management managing a $1 billion portfolio of life science investments.

Separately, Celtic Therapeutics also announced the appointment of Tomasz Sablinski as managing director in charge of European development and a member of the executive committee of Celtic Therapeutics development services. He was previously vice president at Novartis in charge of US clinical development and medical affairs. Dr Sablinski joins Patrick O’Connor, global head of clinical development, and Robert Ryan, global head of regulatory and preclinical development, on the executive committee of Celtic Therapeutics Development Services, both of whom are also part of the Celtic Pharma team.