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SKJ
SKJ
Sekunjalo acquires significant interest in top rated Biotechnology Company
Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share code: SKJ & ISIN: ZAE000017893
("Sekunjalo" or "the company")
Press Release
Date: 15 June 2006
Sekunjalo acquires significant interest in top rated Biotechnology Company
JSE-listed Sekunjalo Investments Limited today announced it has subscribed for
just under fifty percent of the equity of Bioclones (Pty) Limited, a leading
South African Biotechnology company.
The purchase consideration payable is R19 932 447 to be settled through the
issue of 16 610 373 new Sekunjalo shares to Bioclones.
Sekunjalo considers its investment to be considerably discounted since Bioclones
has built a significant presence in the Biotech sector. Bioclones has 22
registered patents and further 12 pending registration, and is an established
Biotech company operating in a $12Billion world-wide market.
Dr Surve, Sekunjalo"s chief executive is to be appointed chairman of Bioclones
and Dr Cyril Donninger will remain as an executive director. Further board
appointments will be announced in the near future.
Bioclones develops and manufactures biotechnology products for human
pharmaceutical use. It has been successful in developing, manufacturing and
registering formulations of recombinant human erythropoietin, the world"s
leading biotechnology product based on sales value. Recombinant human
erythropoietin today commands a worldwide market of over US$ 12,0 billion.
Bioclones has an interesting pipeline of development products, protected by
international patents, which focus on new approaches for the treatment of
diseases due to the failure of cellular immune response, which includes
infectious diseases, cancer and auto immune diseases.
Norman Noland, deputy chief executive officer of Sekunjalo, said "this
investment is an opportunity for Sekunjalo to combine its growing interests in
the healthcare sector and in so doing to facilitate the unlocking of significant
value contained therein."
"Bioclones is among the few biotechnology companies with a track record of
generating revenue from its developed products. It is a world-class company.
There is no doubt that global investors are cognisant of the value inherent in
leading biotech companies."
Dr Donninger said Bioclones had been severely hampered in the development of its
business by the shortage of capital. "With the refinancing of Bioclones via the
Sekunjalo subscription, the management of Bioclones will be in a better position
to deliver the undoubted potential of the company."
"Listed biotechnology companies with only products under development and no
product sales have values of between US $ 100 million to a few billion dollars."
Sekunjalo"s biotech subsidiary African Biotechnology and Medical Innovation
Investments will be structured to incorporate all the group"s biotech
investments.
Dr Surve, Sekunjalo Chief Executive, said that the Bioclones investment is an
opportunity for Sekunjalo to build a significant presence in the biotech sector
by further investment and / or acquisitions.
Ends:
On behalf of: Sekunjalo Investments Limited
Contact: Norman Noland
Deputy CEO
Sekunjalo
083 626 4135
Ryland Fisher
CEO
Sekunjalo Media
082 800 5326
Date: 15/06/2006 02:54:05 PM Produced by the JSE SENS Department
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