30 MILLION FOR NMS: THE RECAPITALIZATION HAS BEEN COMPLETED.

INDUSTRIAL PLAN TO CAPTURE FULL POTENTIAL
 

Nerviano, 19 May 2008 - The entire procedure for the recapitalization of Nerviano Medical Sciences will be completed today. It has been a complex operation whereby Unicredit has transferred 30 million euro to the owner CFIC, in favour of NMS, against appropriate guarantees from CFIC that, in turn, has refinanced NMS for the same amount. It should be noted that the entire operation has been supported by CFIC with the full support of Unicredit. 
Having solved the emergency, the company is now working on an industrial plan that foresees different strategies for each business unit. 

  For Oncology, the research business unit of Nerviano, the intention is to maintain it under Italian control. This is an important point strongly endorsed by the Lombardy Region and its President Formigoni, shared with the other Institutions that have taken part in the "Nerviano case". In order to meet this goal, an intense search has been initiated to identify business partners to share projects with, in a risk-sharing and revenues-sharing modality. This type of agreement has already been successfully done in the past with BMS and Genentech, and it should now be extended to all projects and on-going research activities representing one of the richest "pipelines" available in oncology, today, worldwide.

Accelera (CRO for preclinical scientific services) is already an independent company, even if entirely controlled by NMS, and its current strategy is to find equity partners. Potential partners have already demonstrated interest in it.
During the past 5 years, Accelera has been able to gain the international and the Italian market: today Accelera offers services and scientific advice to 90% of Italian biotech, and has proven to be a highly competent player also in comparison with its international competitors.

 For NMS API - specialized in the synthesis of oncological raw materials - and NMS Pharma - specialized in the manufacturing of oncological finished products - reorganization plans are on-going. A partnership solution is also expected in this case and the hopes are that Invitalia (ex Sviluppo Italia) will be involved.

The plan mentioned above, strongly supported by the present management, does not represent the division of the Nerviano Research Center, but rather the full valorization of its potential. In addition to supporting the research activities there will be the possibility to expand on the market and become stronger,, at the same time continuing to operate with the objective of supplying the requested services.
The future success of Nerviano's research discoveries will justify the support and interest that our Country has demonstrated in order to maintain its activity and value in Italy. 
  
 

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