Northbank client, PowderMed achieves sale to Pfizer

On the 9th October, Pfizer Inc announced that it had entered into an agreement to acquire Northbank client, PowderMed Ltd., for an undisclosed sum. The transaction was completed on 1st December 2006.

PowderMed, a venture-backed immunotherapeutic company based in Oxford, UK had worked with Northbank Communications since its inception in 2004. Northbank had supported PowderMed in all aspects of its communications including corporate image, web site and media relations. The coverage of the announcement of the sale reflected the high profile that had been achieved, with coverage appearing in UK and US national media including The Guardian, The Times, The Daily Telegraph, The Financial Times, The New York Times, The Washington Post, The Wall Street Journal and The Boston Globe, as well as on key wires and online for example Reuters and Dow Jones. VC and transaction media such as TheDeal.com, PrivateEquityOnline.com covered the news as did the key biotech and pharma trades – Biocentury, Scrip, and Bioworld to name a few.

Commenting on the deal Rolf Stahel, Chairman of PowderMed Ltd. said, "PowderMed is a great success story. Through the financial support of a syndicate of leading life science investors and an experienced management team, led by Clive Dix, PowderMed has made outstanding progress in the development of its pipeline of DNA-based vaccines as reflected in this deal reached with Pfizer."

Northbank was appointed by PowderMed at its inception in March 2004. It launched, developed and maintained PowderMed's website, and ensured that the Company achieved high awareness through a proactive media campaign. Through PR, Northbank's strategy was to position PowderMed as a leader in the field of DNA-based vaccines, especially with regards to its vaccine candidates against seasonal and H5N1 influenza – PowderMed's approach and technology being uniquely and easily adaptable for the development of a vaccine to address the pandemic threat. As part of this programme, Northbank developed a series of Q&A and messaging documents, commissioned B-roll film footage, and worked with White papers and animations that had been produced to communicate the message.

Commenting on Northbank's work for PowderMed, Dr Brenda Reynolds, Chief Operating Officer said: "There is no doubt that the coverage obtained has been excellent and the amount of effort you have all put in is reflected in this."

In the period that Northbank worked with PowderMed, > 200 million "opportunities to view/hear/see" were created. Coverage was achieved in broadsheets, tabloids, TV, Radio, trades and Business weeklies in the US and the UK as well online and newswires. Significant coverage included BBC (TV, Radio and Online), The Financial Times, Red Herring, BioCentury, The Evening Standard, The Economist, Business Week, Time, Scrip, Reuters and CNBC Business Magazine.

"I am delighted that the potential of the PowderMed technology to revolutionize the prevention and treatment of infectious diseases is now in the hands of the world's leading pharmaceutical company," said Dr. Clive Dix, Founder and CEO PowderMed Ltd. "This agreement is a testament to the hard work and commitment of the PowderMed team over the years."

More information on PowderMed can be found at www.powdermed.com with significant coverage highlighted at http://www.powdermed.com/inThePress.htm

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