SAN DIEGO–(BUSINESS WIRE)– Heritage
Global Partners (“HGP”), a global leader in asset advisory and
auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL,
CSE: HGP) (“HGI”), today announced that it served as a broker,
auctioneer and sell-side advisor to Nuclea Biotechnologies Inc.
(“Nuclea” or “the Company”) in partnership with Devonshire
Holdings, Inc. in the recently approved sale of the Company’s
complete Intellectual Property (“IP”) portfolio and related assets. The
sale was effectuated through a Chapter 11 process under Section 363.
Global is one of the largest sellers of tangible and intangible
biopharma assets, with extensive experience in providing valuation,
advisory, and auction services on behalf of the world’s largest
biopharmaceutical / pharmaceutical companies. As a result, Devonshire
Holdings retained HGP to help secure additional parties interested in
purchasing Nuclea’s licensing, patents and materials for Human Epidermal
Growth Factor Receptor 2 (HER2), Epidermal Growth Factor Receptor (EGFr)
and other valuable assays. HGP leveraged its deep industry expertise and
relationships to conduct a rigorous marketing process that resulted in
competing offers from multiple strategic buyers, and ultimately the
successful sale of the Nuclea IP assets.
William T. Nolan, President and Founder of Devonshire
Holdings stated, “Devonshire retained Heritage
Global Partners based on their extensive expertise and relationships
in the biopharmaceutical sector to ensure all options were explored.
Heritage did an excellent job in identifying qualified global purchasers
for the Company’s licensing, patents and related intangible assets. We
are very pleased that our partnership with HGP generated positive
results for the sale.”
Global Chief Executive Officer Ross Dove, stated, “We were delighted
to partner with Devonshire Holdings to conduct the Nuclea sale. With our
team’s solid reputation within the global healthcare sector and deep
experience marketing IP assets, Heritage was able to bring multiple
bidders to the table with a strong interest in acquiring these
sophisticated patents and technologies.
“Heritage Global Partners continues to be acknowledged as a leader in
pairing tangible and intangible biopharmaceutical assets with qualified
global purchasers. Last month, we launched our Heritage
Global Patents & Trademarks (HGPT) division, adding new service
offerings to effectively market and monetize clients’ IP and other
intangible assets. Following the successful Nuclea sale, we are
confident our HGPT division will continue to deliver strong results for
our clients and partners.”
Doug Berman, Director of Heritage Global Patents & Trademarks added,
“Heritage Global Patents & Trademarks is focused on generating superior
results for our corporate clients by providing tailored global brokerage
and advisory services for their patents, trademarks and other intangible
assets. HGPT will continue to build upon our parent company’s impressive
record of customer service excellence, while further strengthening its
position as a leading provider of diversified global asset solutions and
Founded in 2005, Nuclea was a leading innovator in mass spectrometry
testing, engaged in the development and commercialization of clinical In
Vitro Diagnostic (IVD) and Research Use Only (RUO) assays used in the
early detection and monitoring of prostate and breast cancer, diabetes
and other metabolic syndromes within the oncology and endocrinology
fields of medicine.
Source: Heritage Global Partners, Inc.