Halo Pharmaceutical Completes $14.6 Million in Financing from The Provident Bank

WHIPPANY, N.J., - Halo Pharmaceutical, this week announced that it has completed $14.6 million in financing from The Provident Bank to expand its operations.

Headquartered in Whippany, Halo is a privately held full-service, specialty pharmaceutical company. Halo provides state-of-the-art contract manufacturing, early stage formulation development and laboratory services to the pharmaceutical and related industries.

"Provident is a respected local bank that understands the New Jersey market and the needs of New Jersey's pharmaceutical companies. That's why we chose to go to them for financing," said Mohd Asif, Halo's Chief Financial Officer. "Provident understands that providing the kind of financing that assists local companies helps keep jobs in the Garden State and even helps create jobs here in the future. We look forward to an ongoing close relationship with them."

"We are excited to be working with Halo," said Keith Stinchcomb, Provident vice president and team leader of middle market lending. "At Provident, we focus on building strong relationships with our clients so we can best meet their financial needs. We look forward to continuing to work with Halo as they grow."

Halo Pharmaceutical Welcomes Dr. George Bobotas as Its Chief Scientific Officer

WHIPPANY, N.J., As part of a Research and Development partnership between Halo Pharmaceutical and DeMelleBioPharma, LLC, Dr. George Bobotas joins Halo Pharmaceutical as Chief Scientific Officer. Halo and DeMelle are working closely together in this alliance on the development of several client products. "I am excited at the potential synergies between these two dynamic companies and the opportunity to work closely together with a talented group of pharmaceutical professionals," said Dr. George Bobotas.

Dr. Bobotas has been President and Managing Partner of DeMelleBioPharma, LLC since 2008. He was employed at Reliant Pharmaceuticals (a wholly owned subsidiary of GlaxoSmithKline plc) for eight years in the position of Vice President, Scientific Affairs. At Reliant, he led teams for the development and commercialization of products with combined marketing penetration of over US$1.00 Billion including Lovaza and Antara among many others. Prior to Reliant, he was the founder and Executive Director of the Covance Center for CNS Research. Earlier in his career, Dr. Bobotas has held senior positions at Mylan Laboratories, Somerset Pharmaceuticals and Forest Laboratories. He is the inventor of 24 patents and patent applications. Dr. Bobotas received his Ph.D. in Biochemistry from the City University of New York. He has also received graduate training in Industrial Pharmacy and Physical Chemistry. He is a member of the American Association of Pharmaceutical Scientists, American College of Clinical Pharmacology and American Society for Experimental Neurotherapeutics.

"Having Dr. Bobotas on its team, Halo now has the capability to develop more complicated products and provide services to its existing and future clients with challenging technical transfers and new Product Development opportunities. We are excited to have George on board," said Mohd Asif, Chief Financial Officer of Halo Pharmaceutical.

Halo capabilities include an impressive array of formulation services, Commercial operations for solid dosage forms, and operations for the aseptic filling of topical ointments, solid dosage forms(tablets and capsules), liquids, suppositories, associated packaging (tablet, powder, liquids and HUD) and ample laboratory space for formulation development, pre-clinical and clinical supplies and support of commercial operations. An additional asset is the site's capability to manufacture controlled substances (C2-C5) and an API manufacturing unit with an outstanding track record of meeting DEA requirements.