NewBridge Pharmaceuticals FZ-LLC, a Dubai, UAE-based a specialty pharmaceutical, biologics, medical devices and diagnostics company, closed $12m in Series B financing.
This round, which brings the total amount raised to date to $16m, was led by Kuwait Life Sciences Company (KLSC), a subsidiary of National Technology Enterprises Company of Kuwait, with participation from previous investor Burrill Life Sciences Capital Fund III, L.P.
In conjunction with the financing, Joseph W. Henein has been appointed President, CEO and a member of the company’s board of directors. He is a senior executive who brings to NewBridge over 29 years of experience in multinational pharmaceutical corporations, holding a number of senior positions covering many geographies including US, Europe, and Middle East.
In addition, Mr. Qais Marafie, Chairman of KLSC, joined the company’s board of directors. Victor A. Hebert, Managing Director, Burrill & Company, has succeeded G. Steven Burrill, CEO, Burrill & Company, as Chairman of the board. Mr. Burrill will continue to serve on the board of directors.
G. Garrett Vygantas, M.D., former interim CEO, was named Vice President, Corporate Strategy and Business Development.
NewBridge NewBridge in-licenses and commercializes FDA and EMA approved therapeutics, devices and diagnostics for diseases including cancer, diabetes, renal and cardiovascular diseases and other metabolic disorders. The company serves the Emerging Markets of Africa, Middle East, Turkey, and Caspian regions (collectively, AfMET).