WAYNE, PA –May 8, 2008 – Safeguard Scientifics, Inc. (NYSE: SFE), a holding company which builds value in growth-stage technology and life sciences companies, today announced that it has closed the transaction with Saints Capital to exit its ownership position in five partner companies – Acsis, Inc., Alliance Consulting Group Associates, Inc., Laureate Pharma, Inc., Neuronyx, Inc. and ProModel Corporation.
Peter J. Boni, President and Chief Executive Officer of Safeguard said, “With the close of this bundled transaction, we have fully aligned our portfolio of companies with our core strategy. We have a solid deal pipeline and backlog of opportunities and are building value in our holdings. We are executing against our game plan and anticipate a year of driving results for our shareholders.”
Safeguard invests in fast-growing companies with capital requirements between $5 and $50 million. Safeguard provides strategic guidance and operational support to accelerate partner growth and competitiveness, and ultimately targets a minimum return of three-to-five times initial capital deployment per company within three to five years. Safeguard targets technology companies in Software as a Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and Vertical Software Solutions; and life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals.
Fairmount Partners, a leading investment bank serving the life science industry represented Safeguard Scientifics in its sale of Laureate Pharma. Neal McCarthy, Managing Director of Fairmount Partners commented, “It was a great pleasure working with Dr. Bob Broeze, the CEO of Laureate, and the entire Laureate team to complete their sale to Saints Capital, who will provide a platform for Laureate’s continued growth in biopharmaceutical development and protein production. We also enjoyed working again with the Safeguard Scientifics team. We are confident that Laureate will continue to evolve and expand as a premier biopharmaceutical service provider.”
Principals of Fairmount Partners acted as advisors to Laureate Pharma, Inc. and its shareholders.