EIF eiffel technologies limited

a blast from the past

  1. 2,794 Posts.
    As an EIF holder, I just came across this old post, it still may hold some relevance--

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    iktomithejust (ID#: 295526) EIFFEL TAKEOVER RUMORS$$$$$$$$$$$$$$$ 1/2/01 4:23:18 PM 2994504
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    (federation has pointed this out to me- I know nothing about it - honest)
    (Company background)
    Rumours re: Takeover announcement
    Announced on 29 Jan 20014:35:32 PM
    Part: - 403 words
    Status: Not market sensitive (N)
    Industry Sub Group: Pharmaceutical (211)



    HOMEX - Melbourne

    Directors have become aware of recent market rumour and speculation
    of a takeover announcement for Eiffel Technologies Limited (Eiffel)
    formerly PharmAction Holdings Limited, similar to market speculation
    in March 2000.

    Directors believe that the takeover speculation may have been fuelled
    by two announcements in December 2000 of the acquisition of two of
    Eiffel's major international competitors by large pharmaceutical

    In early December 2000, Lavipharm Laboratories Inc announced that it
    had acquired exclusive and perpetual rights to Phasex Corporation's
    Supercritical Fluids technology (SCF), patents, trademark and
    know-how for use in the pharmaceutical and cosmetic fields together
    with a 30% equity stake in Phasex. Phasex, based in Boston,
    Massachusetts, applies SCF technology to the development of
    separation, purification and recrystallisation processes with
    emphasis on particle design of small and bio-molecules including
    proteins and peptides.

    No purchase price has been announced that Directors are aware of. The
    President and CEO of Lavipharm, Mr Lavotha, is reported as stating,
    "There is no doubt that this is the technology platform of the future
    for the pharmaceutical and biotech industries."

    The second announcement, which Directors believe may be fuelling
    takeover speculation, was the late December acquisition of Bradford
    Particle Design Plc by US giant Inhale Therapeutic Systems Inc for
    135 million pounds sterling (approximately $A380 million).

    Reuters London, reported on 21 December 2000, that Inhale had
    reported that it made the acquisition a month after it failed to buy
    UK drug delivery Company Quadrant Healthcare, losing it to the Irish
    based group Elan Corporation.

    Both Phasex and Bradford are world competitors with Eiffel in the
    formulation of drug particle design to allow large particle
    injectable drugs to be micronised by special Supercritical Fluid
    technology to allow administration by puffer or patch.

    Eiffel considers itself a world leader in this field, given the
    accelerated Supercritical Fluid technology research programme that
    has been undertaken.

    Directors announce that whilst discussions and negotiations occur on
    a daily basis with a wide range of leading international
    pharmaceutical companies, there are no current offers to acquire
    Eiffel and no current negotiations on this subject.

    Directors consider that a fully informed market exists, and any
    important developments will be immediately announced to shareholders.

    S Quigley


    Mr Sam Quigley
    C/- Pelorus Australia Pty Ltd
    Level 14/50 Market Street

    Tel: 61 3 9614 5505
    Fax: 61 3 9614 4679
    E-mail: [email protected]

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