Spencer Pharma Gets Cash Bid from Mystery PE Firm

Spencer Pharmaceutical said Thursday that it has received an all-cash offer from a PE firm. Spencer’s board has agreed to keep the offer confidential until an investment bank reviews the offer, conducts appropriate due-diligence and recommends a course of action. Boston-based Spencer develops drug release and absorptions systems to treat metabolic diseases like diabetes and metabolic syndrome.


Spencer Pharmaceutical Inc. announced today that it has received an all-cash offer from a private equity firm.

According to the company, a private equity firm has provided the board of directors with an all-cash offer to acquire any and all shares of the company. The board of directors has agreed to keep the offer confidential until an investment bank can be mandated to review the offer, conduct an appropriate due-diligence and recommend a course of action.

“We are surprised to be receiving an all-cash offer at this stage, and in order to keep our shareholders informed , we have opted to announce the receipt of the offer yet until we can have an independent review of the offer we will remain quiet as to his details,” said Dr. Arella, President of Spencer Pharmaceutical Inc. “We don’t want to alarm our shareholders and or put false hopes that a transaction is imminent so all we can do at this time is continue with the development of our licensing program and further development of our technology and business model to create sustainable shareholder value,” further added Dr. Arella.

The final terms and conditions of the transaction will be determined in a definitive agreement. No assurances can be provided that a definitive agreement will be executed. Execution of a definitive agreement is subject to, among other things, confirming due diligence by Spencer, and other conditions and approvals by both companies’ management, board of directors and shareholders, as appropriate.

About Spencer Pharmaceutical Inc.

Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

Important Information About Forward-Looking Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company’s website does not constitute a part of this release.