CELTIC PHARMA LAUNCHES RX INVESTMENT FUND

Celtic Pharmaceutical Holdings, LP, a newly formed private equity investment fund targeting the pharmaceutical industry, announced the launch of the fund and its first investment with the agreed takeover of the UK biotechnology company, Xenova PLC, for a total consideration of approximately GBP20 million. Led by Stephen Evans-Freke and John Mayo, both of whom have outstanding track records of delivering high returns to investors in the pharmaceutical industry, Celtic Pharma has been formed to invest directly in the acquisition of pharmaceutical products that are in the final stages of their development and regulatory approval.

Market Wire (http://www.marketwire.com/mw/release_html_b1?release_id=89454)