SAN DIEGO--(BUSINESS WIRE)--Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“HGI”), today announced that it served as a broker, auctioneer and sell-side advisor to Nuclea Biotechnologies Inc. (“Nuclea” or “the Company”) in partnership with Devonshire Holdings, Inc. in the recently approved sale of the Company’s complete Intellectual Property (“IP”) portfolio and related assets. The sale was effectuated through a Chapter 11 process under Section 363.
Heritage Global is one of the largest sellers of tangible and intangible biopharma assets, with extensive experience in providing valuation, advisory, and auction services on behalf of the world’s largest biopharmaceutical / pharmaceutical companies. As a result, Devonshire Holdings retained HGP to help secure additional parties interested in purchasing Nuclea’s licensing, patents and materials for Human Epidermal Growth Factor Receptor 2 (HER2), Epidermal Growth Factor Receptor (EGFr) and other valuable assays. HGP leveraged its deep industry expertise and relationships to conduct a rigorous marketing process that resulted in competing offers from multiple strategic buyers, and ultimately the successful sale of the Nuclea IP assets.
William T. Nolan, President and Founder of Devonshire Holdings stated, “Devonshire retained Heritage Global Partners based on their extensive expertise and relationships in the biopharmaceutical sector to ensure all options were explored. Heritage did an excellent job in identifying qualified global purchasers for the Company’s licensing, patents and related intangible assets. We are very pleased that our partnership with HGP generated positive results for the sale.”
Heritage Global Chief Executive Officer Ross Dove, stated, “We were delighted to partner with Devonshire Holdings to conduct the Nuclea sale. With our team’s solid reputation within the global healthcare sector and deep experience marketing IP assets, Heritage was able to bring multiple bidders to the table with a strong interest in acquiring these sophisticated patents and technologies.
“Heritage Global Partners continues to be acknowledged as a leader in pairing tangible and intangible biopharmaceutical assets with qualified global purchasers. Last month, we launched our Heritage Global Patents & Trademarks (HGPT) division, adding new service offerings to effectively market and monetize clients’ IP and other intangible assets. Following the successful Nuclea sale, we are confident our HGPT division will continue to deliver strong results for our clients and partners.”
Doug Berman, Director of Heritage Global Patents & Trademarks added, “Heritage Global Patents & Trademarks is focused on generating superior results for our corporate clients by providing tailored global brokerage and advisory services for their patents, trademarks and other intangible assets. HGPT will continue to build upon our parent company’s impressive record of customer service excellence, while further strengthening its position as a leading provider of diversified global asset solutions and services.”
Founded in 2005, Nuclea was a leading innovator in mass spectrometry testing, engaged in the development and commercialization of clinical In Vitro Diagnostic (IVD) and Research Use Only (RUO) assays used in the early detection and monitoring of prostate and breast cancer, diabetes and other metabolic syndromes within the oncology and endocrinology fields of medicine.