BEIT SHEMESH, Israel, April 16, 2013 /PRNewswire/ --
YES Pharma Ltd. (http://www.yespharma.com) announced today an agreement on terms to assume 33 percent ownership of Santa Clara, CA, USA based Stereokem, (http://www.stereokem.com) in return for an investment of US$2.5 million.
Stereokem is a pharmaceutical industry leader that focuses primarily on the development, production and marketing of Anti-Diabetic Active Pharmaceutical Ingredients (APIs), for the regulated and semi-regulated markets.
As part of the agreement, Gideon Schurder, Founder and Commercial Director of YES Pharma has been appointed to Stereokem's Board of Directors. "This agreement will enable YES Pharma to benefit from Stereokem's proven ability to develop top quality APIs, while we provide them access to our global marketing and distribution network," Mr. Schurder said. "Stereokem's core business offering of developing and producing anti-diabetic APIs was identified as a specific area of collaboration for YES Pharma. Significant potential exists for continued expansion of synergy between our companies and I am very confident that this agreement will be of great value for our customers."
Stereokem's Founder and Director, Satyanarayana Janagani, PhD, welcomed YES Pharma to the company saying, "YES Pharma has proven itself as an industry leader in reaching new segments of the marketplace while providing a quality product and level of service that makes them a natural partner for our company. This is an agreement that we know will serve as a very positive growth development for our customers and partners all over the world."
YES Pharma Ltd
Based in Beit Shemesh, Israel, Yes Pharma is an innovative distribution company, involved in both exclusive representation and global supply of quality pharmaceutical ingredients, with specialization in providing full sourcing options, complete technical capabilities and regulatory support for a wide range of APIs.
Based in Santa Clara, CA, USA, Stereokem develops and manufacturers primarily anti-diabetes APIs (DPP-4 inhibitors), aka- Gliptins. Several of Stereokems APIs are manufactured via patented non-infringing processes and would be suitable for Paragraph IV challenges / early launch in regulated markets. Stereokem prides itself on strong chemistry which is extremely innovative, robust, cost-effective and also 'green'. Stereokem Inc is a US based corporation with its R&D and marketing offices in California with a wholly owned subsidiary out of Hyderabad, India.
For more information:
Mrs. Dikla Gonen-Klein
YES Pharma Ltd
SOURCE YES Pharma Ltd