Merger of Astex Therapeutics and Supergen

Astex Therapeutics Financial and Corporate Communications

Astex Therapeutics is a biotechnology company developing targeted therapies for oncology. Based in Cambridge, UK the Company appointed College Hill in February 2011 to manage its financial and corporate communications in the run up to the announcement of a merger with SuperGen, Inc., a US, NASDAQ-listed company, and through to completion of the merger.

Objectives

To advise and support Astex in its merger with SuperGen, working closely with both companies’ management and communications teams, to:

• Explain the rationale for the deal to European audiences, both external and internal (staff).
• Position the newly merged entity as a financially strong, oncology focussed pharmaceutical company, to be called Astex Pharmaceuticals.

Our Approach

• A meeting was held with Astex’s management team to establish the timetable for the deal, provide strategic counsel and establish the key messages to be communicated.
• A detailed Q&A brief was written addressing both external and internal (staff) communications.
• Advised on the structure and content of press releases, as well as the best outreach strategy to maximise impact and establish the credibility of the deal.
• We provided intensive media training for the key spokespeople at Astex in advance of the announcement.
• Following the announcement, we secured a series of meetings with key journalists to build understanding of the benefits of the merger and the future direction for the group.
• Design and copywriting advice was provided on the microsite and the investor presentation.

Results

The announcement of SuperGen’s acquisition of Astex story was communicated effectively with maximum effect in the US and Europe. Comprehensive coverage of the merger was secured in top tier business and trade media including SCRIP, BioCentury, EP Vantage, GEN, Bloomberg, The Times, Fierce Biotech, BioWorld, In Vivo and Forbes, as well as in important local media, such as the Cambridge Evening News. As a result, College Hill has been asked to submit a proposal for providing global communications support to the new group going forward.

Client Endorsement

Harren Jhoti, CEO, said: “The College Hill team was proactive right from the start, quickly grasping the story and providing valuable strategic advice all the way through the process. As a result, we felt very well-prepared for communicating the news and rationale of the deal to both the media and most importantly, to our own staff in Cambridge. The communications strategy was executed in a timely and very professional manner throughout, ensuring the story was covered accurately in a broad selection of US and European press, positioning the new entity, Astex Pharmaceuticals, in the right way for the future.”

September 2011

For further information:

Sue Charles, Managing Partner
+44 (0)20 7457 2020/ +44 (0)7968 726 585
sue.charles[at]collegehill.com

© 2012 College Hill | Registered in England No 1036926 / VAT No 245666930 | Legal

other clients