SOURCE: Burrill & Company

Burrill & Company

April 16, 2012 08:44 ET

Burrill & Company Leads ADMA Biologics' $17.5 Million Private Placement

SAN FRANCISCO, CA--(Marketwire - Apr 16, 2012) - Burrill & Company today said it led a $17.5 million private placement in ADMA Biologics, Inc., a clinical stage biotechnology company focused on the development and commercialization of human plasma and plasma-derived therapeutics.

The investment, made in February, followed ADMA's completion of a reverse merger with R&R Acquisition VI, Inc., a public reporting company. ADMA remained as the surviving company and as a wholly-owned operating subsidiary of R&R VI. R&R VI was renamed ADMA Biologics, Inc. following completion of the merger. The resulting public company will implement the business plan of ADMA.

"It's not often that we have an opportunity to invest in a late-stage asset like ADMA's RI-001 and in a company like ADMA," says Bryant Fong, Managing Director at Burrill & Company. "From both a clinical development perspective and from a potential patient benefit perspective, we see a very compelling new product candidate that addresses an area of clinical unmet need, and we believe the ADMA management team is well-equipped to bring it to commercial success."

The private placement included the sale of 1,828,128 shares of Common Stock at $9.60 per share. In addition to Burrill & Company, the financing included significant participation from Aisling Capital and ADMA's founders. Proceeds from the financing will support ADMA's pivotal late-stage clinical trial for its lead product candidate, RI-001, in order to gain FDA approval of RI-001 as an intravenous immune globulin for the treatment of patients with Primary Immunodeficiency Disease.

"We are very pleased that Burrill & Company is joining us to lead this round of financing for ADMA," says Steve Elms, Managing Partner at Aisling Capital and Chairman of the Board of ADMA Biologics. "It is a strong sign of support for ADMA's important work developing potentially lifesaving therapies for immune-compromised patients. They clearly share our confidence in ADMA's RI-001 and in its upcoming Phase III clinical trial."

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc., served as advisor for the merger and as exclusive placement agent in connection with the financing.

RI-001 is a plasma-derived, polyclonal, intravenous immune globulin with standardized high levels of antibodies against respiratory syncytial virus ("RSV").

About ADMA Biologics, Inc.
ADMA is a clinical stage biotechnology company which focuses its efforts on the development and commercialization of human plasma and plasma-derived therapeutics. ADMA's mission is to develop and commercialize plasma-derived, human immune globulins targeted at niche patient populations with unmet medical needs. In addition, ADMA operates ADMA BioCenters, a wholly-owned subsidiary and FDA-licensed source plasma collection facility located in Norcross, GA. ADMA Biologics, Inc. was founded by Dr. Jerrold B. Grossman and Adam S. Grossman.

About Burrill & Company
Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the company to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information visit: www.burrillandco.com.

Contact Information

  • Contact:
    Daniel Levine
    Managing Director
    Burrill & Company
    Email Contact
    415-591-5449