PCI Announces Definitive Agreement to Acquire Penn Pharma

          PCI Announces Definitive Agreement to Acquire Penn Pharma

PCI's Expands Service Offering with Acquisition of Penn Pharma

PR Newswire

PHILADELPHIA, July 30, 2014

PHILADELPHIA, July 30, 2014 /PRNewswire/ --Packaging Coordinators, Inc. (PCI)
is pleased to announce it has reached a definitive agreement to acquire Penn
Pharmaceutical Services Limited (Penn Pharma).Penn Pharma is headquartered in
Tredegar, Wales in the United Kingdom and operates regional offices in New
Hope, Pennsylvania and Tokyo, Japan.Penn Pharma offers both drug development
and manufacturing services, including Clinical and Commercial dosage form
manufacturing, as well as Clinical Packaging, Labeling, and global Storage,
Distribution and Return Drug Services. Recently, Penn Pharma opened a new
world class, purpose-built contained manufacturing facility in response to
market need for specialist containment solutions for the development and
manufacturing of solid oral dose products containing highly potent compounds.
In 2014, Penn launched a capacity expansion project for large scale commercial
manufacturing and packaging.

Penn Pharma's drug development, manufacturing, and packaging services
complement PCI's own growth in Clinical Trial and Commercial supply services,
having expanded both its global operations in North America and Europe.PCI
has announced several key investments recently including Cold Chain
infrastructure expansions for both storage and logistics as well as support
for refrigerated packaging operations.PCI will also open a 97,000 square foot
state-of-the-art North American Storage and Distribution facility for
investigational products in September of this year.

"We are very excited about adding Penn Pharma's expertise and experience in
drug development," states Bill Mitchell, President and CEO of PCI."Penn
Pharma is a recognized leader in this area and the opportunity to combine
forces adds significant value for our clients.With Penn Pharma's services, we
can partner with clients at the very earliest stages of drug development to
support them with drug formulation, analytical development, drug
manufacturing, clinical packaging, global distribution, and ultimately
supporting the product's commercial launch.This addition expands our vision
of lifecycle support from clinical trials through commercialization for our
clients' lifesaving therapies."

PCI is principally owned by Frazier Healthcare, with partner investors QIC
Global Private Equity, Greenspring Associates and Thomas, McNerney &
Partners.Frazier Healthcare, founded in 1991 to invest exclusively in
healthcare, is a leading provider of growth equity and venture capital to high
growth and emerging healthcare companies.

About Penn Pharma
As one of the longest established pharmaceutical services companies, Penn
Pharma has 30 years of experience in providing integrated drug development,
clinical trial supply and manufacturing services to the international
healthcare industry. Penn Pharma is privately owned and operates from a single
site facility in South Wales, UK where we employ circa300 highly skilled

About PCI
The global healthcare industry trusts PCI for the packaging solutions that
increase their products' speed to market and opportunities for commercial
success. Only PCI brings the proven experience that comes with more than 50
successful product launches a year and over four decades in the healthcare
business. Leading technology and continued investment enables us to address
global packaging needs throughout the product life cycle — from Phase I
clinical trials through commercialization and ongoing supply. Our clients view
us as an extension of their business and a collaborative partner, with the
shared goal of improving patients' lives.For more information please visit
www.pciservices.com or follow us on Twitter at @PCI_Social.

About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of growth equity and
venture capital to high growth and emerging healthcare service and biopharma
companies. With over $1.8 billion under management across seven funds, Frazier
Healthcare has invested in more than 140 companies across the entire
developmental spectrum. From seed stage venture investments to leveraged
recapitalizations of cash generating companies, Frazier Healthcare has
established itself among entrepreneurs and seasoned executives as a preferred
partner to help create and grow successful healthcare companies. For more
information about Frazier Healthcare, visit the company's website at

About Greenspring Associates
Established in 2000 as a global venture capital firm, Greenspring Associates
currently manages both a dedicated late stage direct investment platform as
well as a globally diversified fund-of-funds platform. Since inception, the
Firm has invested in over 55 portfolio companies alongside of its leading
venture capital and growth equity managers both in the United States and
Europe. Through the Firm's value-added investment approach, it primarily
invests across the information technology and communications stack, as well as
healthcare and energy-related technologies. The Firm currently manages over
$2.2 billion in committed capital for a diverse group of pension plans,
insurance companies, foundations, endowments and family offices in North
America, Europe, Middle East, Australia and Asia.

About QIC Private Equity
QIC Global Private Equity (QIC GPE) is a business unit of QIC Limited (QIC)
and acts as an in-house private equity team, managing over $3 billion for
institutional investors including superannuation, pension and sovereign wealth
funds. Operating with a strong principal investment mindset and uncompromising
fiduciary standards, QIC GPE develops, implements and adapts private equity
solutions that seek to deliver higher performance over time. Located in
Brisbane, Sydney, San Francisco and Copenhagen the team is comprised of twelve
investment professionals plus extensive support staff. QIC is one of the
largest institutional investment managers in Australia, with $69.3 billion* in
funds under management. More info www.qic.com. *as at 31 December 2012.

About Thomas, McNerney & Partners
Thomas, McNerney & Partners is a health care venture firm with approximately
$600 million under management, focused on investing in innovative life science
and medical technology companies at all stages of development. In addition to
helping entrepreneurs launch companies with seed and early stage funding, the
firm provides growth capital to emerging companies to advance clinical
development or for product commercialization. Thomas, McNerney & Partners also
is involved in spinning out products and divisions from major medical device
and pharmaceutical companies, consolidating companies through roll-up
strategies and participating in structured financings for public companies, as
well as recapitalizations. The firm has offices in Connecticut, Minnesota and
California. For further information, please visit www.tm-partners.com.

Justin Schroeder, Executive Director - Marketing, Business Development and
Design Justin.schroeder@pciservices.com, (815) 484-8973

SOURCE Packaging Coordinators, Inc.

Website: http://www.pciservices.com
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