FOSTER CITY, Calif.,
Nov. 14, 2016 /PRNewswire/
-- SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) ("SciClone")
today confirmed that it has received an unsolicited, nonbinding
proposal from a consortium led by GL Capital Management GP Limited
and ABG Management Limited to acquire all of the outstanding shares
of SciClone not already owned by the consortium for $11.18 per share in cash, which proposal was
subsequently filed by consortium members as an exhibit to their
Schedule 13D/As with the Securities and Exchange Commission. The
proposal is subject to a number of contingencies including
financing, due diligence and documentation. Consistent with
its fiduciary duties and in consultation with its financial and
legal advisors, SciClone's Board of Directors will carefully review
and consider the proposal to determine the course of action that it
believes is in the best interests of SciClone and its stockholders,
taking into account SciClone's current strategic plan and growth
initiatives.
As part of the commitment of SciClone's Board and management to
stockholders, the Board regularly reviews all options for
generating and delivering value. SciClone does not intend to
disclose developments regarding these matters unless and until its
Board determines there is a material need to update the
market.
About SciClone
SciClone Pharmaceuticals is a revenue-generating, specialty
pharmaceutical company with a substantial commercial business in
China and a product portfolio
spanning major therapeutic markets including oncology, infectious
diseases and cardiovascular disorders. SciClone's proprietary
lead product, ZADAXIN® (thymalfasin), is approved
in over 30 countries and may be used for the treatment of hepatitis
B (HBV), hepatitis C (HCV), and certain cancers, and as an immune
system enhancer, according to the local regulatory approvals. The
Company has successfully in-licensed and commercialized products
with the potential to become future market leaders and to drive the
Company's long-term growth, including DC Bead®, a novel
treatment for liver cancer now approved in China, and several other products in late
stage development in China.
Through its promotion business with pharmaceutical partners,
SciClone also markets multiple branded products in China which are therapeutically
differentiated. SciClone is a publicly-held corporation based in
Foster City, California, and
trades on the NASDAQ Global Select Market under the symbol SCLN.
For additional information, please visit www.sciclone.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding
expected future events and expectations. Readers are urged to
consider statements that include the words "may," "will," "would,"
"could," "should," "might," "believes," "estimates," "projects,"
"potential," "expects," "plans," "anticipates," "intends,"
"continues," "forecast," "designed," "goal," "approximately" or the
negative of those words or other comparable words to be uncertain
and forward-looking. These statements are subject to risks and
uncertainties that are difficult to predict and actual outcomes may
differ materially. These statements are subject to risks and
uncertainties that are difficult to predict and actual outcomes may
differ materially. Please also refer to other risks and
uncertainties described in SciClone's filings with the Securities
and Exchange Commission, including the discussion under the heading
"Risk Factors" in SciClone's most recent Annual Report on Form 10-K
and any subsequent Quarterly Reports on Form 10-Q. All
forward-looking statements are based on information currently
available to SciClone and SciClone assumes no obligation to update
any such forward-looking statements.
SciClone, SciClone Pharmaceuticals, the SciClone
Pharmaceuticals design, the SciClone logo and ZADAXIN are
registered trademarks of SciClone Pharmaceuticals, Inc. in
the United States and numerous
other countries.
Corporate
Contacts
|
Wilson W.
Cheung
|
Jane Green
|
Chief Financial
Officer
|
Investors/Media
|
650.358.3434
|
650.358.1447
|
wcheung@sciclone.com
|
jgreen@sciclone.com
|
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SOURCE SciClone Pharmaceuticals, Inc.