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Gurnet Point L.P. Completes Acquisition of Innocoll Holdings plc


Gurnet Point L.P., a healthcare investment fund, and Innocoll Holdings
plc (NASDAQ:INNL), a global pharmaceutical and medical device company,
today announced that Gurnet Point has completed its acquisition of
Innocoll. As a result, Innocoll's shares (NASDAQ:INNL) will no longer be
traded on the NASDAQ Global Select Market as of today.

Under the terms of the agreement, Gurnet Point will acquire Innocoll for
$1.75 per share in cash, and up to $4.90 in cash from a contingent value
right (CVR), for a total potential per share value of up to $6.65 or up
to approximately $209 million in aggregate.

As previously announced, Gurnet Point is providing a $10 million term
loan to provide the additional resources needed for the continued
development of XARACOLL, Innocoll's late-stage surgically implantable
and bioresorbable collagen matrix, within the post-operative pain
market. The term loan will provide the additional capital needed to
prepare for the re-submission of the XARACOLL new drug application
("NDA") to the U.S. Federal Drug Administration ("FDA") in order to
achieve the milestones related to the CVR.

"With the close of this transaction, we are excited by the prospect of
helping to develop and bring XARACOLL to the market and we look forward
to assisting with the re-submission of XARACOLL for FDA approval and
preparing for its commercialization," Christopher Viehbacher, Managing
Partner at Gurnet Point Capital. We are looking forward to working
closely with Innocoll's management team to identify XARACOLL's path to

Mr. Viehbacher concluded, "This transaction supports Gurnet Point's
strategy of deploying long-term capital in life sciences, medical
technology and healthcare services companies across all stages of
development through to commercialization. It builds on Gurnet Point's
track record of partnering with companies seeking long-term partners to
develop and implement transformative technologies and health care

Tony Zook, Chief Executive Officer of Innocoll, said, "We are excited to
begin our work with Gurnet Point with the aim of successfully filing and
commercializing XARACOLL in the U.S. market. Gurnet Point's deep
knowledge of value-driven drug development, regulatory affairs and
clinical trial design and execution will provide us with the opportunity
to ultimately bring XARACOLL to patients."

About Gurnet Point Capital

Gurnet Point Capital (GPC) is a unique health care fund founded by
Ernesto Bertarelli and led by Christopher A. Viehbacher, who, together,
have decades of expertise in an industry for which they share a passion,
both as Chief Executives and as investors. With an initial allocation of
$2 billion, GPC is investing long-term capital and supporting
entrepreneurs in building a new generation of companies. Based in
Cambridge, MA, its remit is global, encompassing life sciences and
medical technologies. The fund invests across all stages of product
development through to commercialisation and does so with an approach
that is a hybrid of venture and private equity investing strategies.
This approach is governed by a guiding tenet that even the earliest of
technologies must present a clear commercial case, benefiting both
patients and the healthcare system as a whole.

About Innocoll Holdings plc

Innocoll is a global, commercial stage specialty pharmaceutical and
medical device company with late stage development programs targeting
areas of significant unmet medical need. Innocoll utilizes its
proprietary collagen-based technology platform to develop biodegradable
and fully bioresorbable products and product candidates which can be
broken down by the body without the need for surgical removal or topical

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