About 30 per cent of Aspreva stock is held by directors, executives and long-time shareholders.
Aspreva researches and commercializes new medical uses for already registered drugs and works with Swiss drugmaker Roche AG on finding new uses for CellCept, originally developed as an anti-rejection agent for organ transplants.
Victorians Richard Glickman, Noel Hall and Michael Hayden -- scientists and entrepreneurs in B.C.'s life-sciences and high-tech sector -- combined their funds and money from family and friends to start Aspreva. They weren't available for comment.
The company went public on March 5, 2005, with an $80-million initial public offering, the largest in Canadian biotech history, and signed a licensing agreement with Roche to use CellCept in trials to treat less-common autoimmune diseases such lupus nephritis and pemphigus vulgaris.
Glickman also founded Victoria-based StressGen Biotechnologies in the 1980s. He stepped aside as Aspreva chief executive and president in July, and was replaced by current CEO William Freytag.
The pending takeover has left Freytag, hired out of Denver in July, with mixed emotions. "I find myself in this classic bittersweet scenario. I have basically fallen in love with this company and the opportunity that it represented to me," said Freytag, who joined Aspreva from Myogen Inc., a biopharmaceutical company. "But the discussions with Galenica were already underway, they clearly represented a very significant opportunity for our shareholders."
Aspreva employs about 140, the majority at its headquarters at Vancouver Island Technology Park in Saanich, and others in research facilities in London, New Jersey and Asia.
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http://www.canada.com/victoriatimescolonist/news/story.html?id=48385883-d49b-42c3-91f8-5a6beab27a72&k=99561
[The University of Victoria bought the Vancouver Island Tech Park to continue the Victoria region's growth in the high-tech sector. I thought that meant local high-tech companies, not Swiss ones. -- NSay]
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