March 26, 2017 9:52 PM ET

Biotechnology

Company Overview of PrIME Biologics Pte Ltd.

Company Overview

PrIME Biologics Pte Ltd. develops and manufactures therapeutic plasma products. It develops therapeutic Albumin, IVIG, FVIII, and FIX from human plasma; other therapeutic plasma based products; and hyperimmune therapies and specialty plasma therapeutics. PrIME Biologics Pte Ltd. was formerly known as Singapharm Pte Ltd. and changed its name to PrIME Biologics Pte Ltd. in August 2011. The company was incorporated in 2010 and is based in Singapore. PrIME Biologics Pte Ltd. is a former subsidiary of NuSep Holdings Ltd.

41 Science Park Road

#01-09 The Gemini (Lobby A)

Singapore,  117610

Singapore

Founded in 2010

Phone:

65 6410 2410

Key Executives for PrIME Biologics Pte Ltd.

Managing Director and Director
Age: 57
Senior Director of Finance
Director of Operations
Director of Science & Technology and General Manager of Australia
Compensation as of Fiscal Year 2016.

PrIME Biologics Pte Ltd. Key Developments

Memphasys Limited Provides Update on its Litigation Against PrIME

Memphasys Limited provided an update on its litigation against PrIME and to announce that it has received a statutory demand for the repayment of the third party debt that PrIME has paid as guarantor of that debt. In 2014 Memphasys spun out its Singapore-based subsidiary, PrIME Biologics (PrIME), and agreed to take principal responsibility for payment to a third party, A-Bio, as part of the agreement to receive B class non-voting shares in PrIME. A-Bio had used the manufacturing facility in Singapore for cGMP manufacturing and PrIME had taken over the site from A-Bio. The debt has now been fully repaid by PrIME as guarantor of the loan repayment. According to PrIME's records, Memphasys now owns 43% of PrIME. Other shareholders of PrIME include JP Asia PrIME Capital Pte Ltd. and Pulau Manukan Ventures Labuan Ltd, (Manukan), which is part of Xeraya Capital which forms part of the portfolio of the Malaysian Sovereign Wealth Fund, Khazanah National. As has been previously announced, Memphasys is in litigation against PrIME and its major investor, 'Manukan'. Litigation involves two separate actions in the Singapore High Court. The means of payment by Memphasys against the debt payout made by PrIME; and The ownership of a machine, the 'GF100', a key part of PrIME's cGMP plasma processing facility and for which PrIME had paid rent to Memphasys. Memphasys has taken positive steps to defend these actions but simultaneously is making efforts to resolve the conflict to preserve shareholder value. Within the process of determining an outcome and to counter the legal actions bought by Memphasys against Prime, Prime as part of its strategy, has served on Memphasys a statutory demand for the payment of $4,895,598 which comprises the debt that PrIME has repaid, interest accrued and legal costs, which Memphasys will vigorously defend. Memphasys remains confident that the value of its B class shares in PrIME will exceed the payout. Negotiations between the parties are focused on the description and use of the GF100 machine and the quantum net payment to be received by Memphasys from the sale of its B class shares and transfer of the GF100 machine to PrIME.

PrIME Biologics Pte Limited Announces Resignation of Andrew Goodall as Non Executive Director

NuSep Holdings Limited announced that it has advised that Mr. Andrew Goodall has resigned from the Board of PrIME Biologics Pte Ltd, effective January 5, 2016.

PrIME Biologics Pte Ltd Announces Executive Changes

NuSep Holdings Limited announced that Mr. Andrew Goodall has been appointed to the board of PrIME Biologics Pte Ltd. as NuSep's representative. Mr. Goodall is a non-executive director of NuSep and a major shareholder of the company. He replaces NuSep's Executive Chairman and NuSep's former representative on the board of PrIME Biologics Pte Ltd, Ms. Alison Coutts.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 16, 2016
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