Press release
Midas International strikes Venture Capital deal with orphan drug company
Midas International
Dubai, United Arab Emirates - Midas International announced today that it has come to an agreement for up to $35 million in venture capital financing for two separate companies involved in the development of orphan drugs (Drugs for diseases that afflict small numbers of people). At this time details of the agreements were not disclosed, however it has been disclosed that the first round of funding would come immediately from Midas International with the later rounds coming from a consortium of their clients.
“Midas International has long supported the biotech industry. We believe that not only is it the right thing to do as global citizens, but from a business perspective as well,” said Kenneth Emerson, Director of Business development. “Several years ago we funded a small biotech firm in the U.S. that was developing a drug to protect the central nervous system. That drug is now used in treatments of more than a dozen diseases including Multiple Sclerosis.”
The companies that Midas has agreed to fund will both be receiving matching grants from a U.S. Foundation. The Dollar for Dollar agreement allows companies to effectively pursue treatments to ailments that often go untreated. Midas in return for its early round funding efforts will have a seat on the board of both companies and a right of first refusal on certain next steps the companies may take. The business model for investment into Orphan Drugs has been in effect since the 1983 Orphan Drug Act in the US granted special patent rights. Similar laws protect and promote this vital research and the drugs that are developed as a result in the EU.
Midas International, FZE (http://www.midasworldwide.com) is an investment banking, financial consulting and brokerage firm offering investment solutions, asset allocation strategies and analysis on equities and fixed income securities. The Dubai based investment firm has satellite offices in Hong Kong, London and Sydney.
Midas International FZE
Burjuman Tower, 18th Floor
P.O. Box 121828, Dubai
43659 U.A.E.
Phone: +971 4509 6841
Fax: +971 4509 6797
Andy Scofield
Public Relations Manager
Email: ascofield@midasworldwide.com
Web: http://www.midasworldwide.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Midas International strikes Venture Capital deal with orphan drug company here
News-ID: 59479 • Views: …
More Releases from Midas International
Midas International to Fund Green Technologies
Midas International - announced today that it would begin actively searching out Green Technology investment opportunities. “We would like entrepreneurs working on the breakthroughs that will lead to sustainable living to see this announcement as a Request for Proposals” said Kenneth Emerson, Director of Business Development. “It is clear that the last 20 years were the time of Information Technology, we believe that the next 20 will be the…
Midas International to Expand Venture Capital Presence
While the biggest of financial institutions sit with their hands out to the government, many of the more forward thinking independent firms are taking advantage. Midas International of Dubai announced today that it is actively seeking venture capital opportunities. Through conventional in-house VC agreements and a series of recently closed Private Placement Offerings, the firm has raised in excess of 45 million euro in the last 90 days. “We are…
More Releases for Dubai
Model Making Dubai
Architectural model making is an integral part of the design process as it helps architects and designers explore project potential and visualize the outcome.
Models are also used to communicate the project vision to other relevant parties involved in the process. Thus, making accurate and effective models is essential to get projects off the ground.
If you want to enhance your models this year, read on to learn how to make the…
Dubai Events presents iLounge Dubai at Fogo de Chao
- an excusive entertainment addition to the city’s nightlife -
The countdown to National Day weekend has started; this season, the city will also celebrate the launch of The iLounge Dubai, an exclusive lifestyle and entertainment experience. Produced by Dubai Events, The iLounge is a new concept to hit the nightlife landscape and brings ultimate showbiz style hospitality to town. Debuting on 2nd December 2019 at Fogo de Chao, Central…
Dubai Tourism Inaugurates HITEC® Dubai 2018
HITEC Dubai 2018, the Middle East’s largest hospitality technology exhibition and conference, was officially inaugurated today by Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM). Co-produced by Hospitality Financial and Technology Professionals (HFTP®) and Naseba, this year’s expo, which is taking place at the Madinat Jumeirah Dubai from 5-6 December, is showcasing a wide range of innovative solutions from the world’s leading hospitality technology providers.
Travel technology has…
Dubai Tourism to Inaugurate ‘HITEC Dubai 2018’
HITEC Dubai 2018, the Middle East’s largest hospitality technology exhibition and conference, will be inaugurated by Dubai Tourism on 5th December 2018. The annual business-to-business (B2B) exhibition will give Middle East buyers, currently worth over USD 75 billion, access to the world’s leading technology solution providers and experts in the hospitality sector.
Commenting on the critical role technology is playing in driving tourism, Issam Kazim, CEO, Corporation for Tourism and Commerce…
PMP Dubai - PMP Training Dubai – Vinsys
PMP Training at Dubai By Vinsys. Register Now for The PMP Dubai Class Led by Highly Qualified and Certified Subject Matter Expert.
Widely accepted as a global benchmark to recognize proficiency and skills in Project Management, the Project Management Professional (PMP Dubai) certification will certify an individual’s ability to successfully drive and manage a project. PMI’s Project Management Professional (PMP®) credential is recognized worldwide as the definitive industry-recognized certification for project…
PMP Dubai | PMP Certification Training in Dubai | Vinsys
Looking for PMP Certification Training Dubai At Vinsys. Attend 5 Days Classroom PMP Training Dubai from the Best Certified Organization SME & Earn 35 PDUs.
PMP® Certification is the most coveted credential in project management offered by the reputed PMI. Vinsys (Global PMI® (R.E.P.) Global 2739) offers both online PMP® training and PMP® classroom training coupled with PMP live webinars, sample PMP® exam questions and mock PMP® practice exams. Enhance…
