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Burrill & Company and Biostreet Join ForcesJanuary 02, 2002
"Best of Both Worlds" for Life Sciences Partnering
San Francisco, CA - January 03, 2002
San Francisco, CA, January 3, 2001-In a move designed to broaden its range of life sciences partnering services, Burrill & Company, a life sciences merchant bank, today announced the addition of BioStreet™, an online marketplace for biopharmaceutical deal making, to its strategic partnering and spin-out services. By acquiring the assets of the BioStreet business, Burrill & Company combines its strong network of professional relationships with BioStreet’s ability to showcase potential partners’ technologies and products in an efficient and powerful fashion using the Internet.
Commenting on the deal trends underlying this transaction, G. Steven Burrill, CEO of Burrill & Company, noted, "Times are changing. The biotech industry has never been more dependent on dealmaking for its success, but we need to re-examine just how those deals will get done." With the addition of BioStreet's DealXchange website to its own capabilities, Mike Ullman, Managing Director who focuses on Burrill & Company's partnering and spin-out business, emphasized, "Burrill & Company now offers pharmaceutical and biotechnology companies a winning combination that harnesses both electronic and face-to-face dealmaking acumen to get the right parties talking and get the right deal done."
Richard Haiduck, Burrill & Company’s Director of BioStreet added, "The market requires innovative dealmaking tools. For example, a number of companies are looking for a full range of transaction options beyond licensing and development collaborations. Some clients are seeking a more complete transaction in which deal structuring and negotiation are part of the available choices, and the scope of the transaction can include creative strategic alliances, spin-outs, joint ventures and, if integral to the deal, financing," explained Haiduck. "As we look at the broad range of capabilities that Burrill & Company can provide with the BioStreet online marketplace, both Steve and I believe that we have defined and captured the new 'high ground' of life sciences transactions."
Burrill & Company
Burrill & Company is a San Francisco-based life sciences merchant bank. Burrill & Company’s core business is venture capital investing across the entire spectrum of life sciences including human healthcare biotechnology, agricultural biotechnology, nutraceuticals, human healthcare diagnostics, biomaterials and bioprocesses. Supportive activities include strategic partnering for life science companies, sponsorship of industry conferences and publication of industry reports, and maintenance of an online marketplace for biopharmaceutical deal making.
If you would like additional information about Burrill & Company, please feel free to contact us:
Burrill & Company
One Embarcadero Center,
San Francisco, CA 94111
Main Phone: 415-591-5400