Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Sinclair Pharma PLC (SPH)

  Print      Mail a friend

Monday 19 June, 2017

Sinclair Pharma PLC


RNS Number : 4019I
Sinclair Pharma PLC
19 June 2017

Sinclair Pharma plc


Acquisition of Worldwide rights to the Refine™ Support System, an FDA cleared suture based breast-lifting technology


Provides immediate access to a $600 million segment of the US aesthetic market via Thermi's sales infrastructure


Expands and complements Sinclair's portfolio of premium aesthetics brands


London,19 June 2017 Sinclair Pharma plc (SPH.L), ("Sinclair") the international aesthetics company, is pleased to announce it has acquired the Refine™ Support System, a patented and FDA cleared, suture based product primarily used in breast cosmetic and reconstructive procedures for a total consideration of up to $11.3m including regulatory and sales based milestones and royalties.


The Refine™ Support System, is owned by Refine LLC, and is a soft and flexible suture-mesh-anchor system that lifts and supports soft tissue. The Refine™ Support System will be incorporated into the Silhouette portfolio. The system can be used for a number of cosmetic or reconstruction soft tissue procedures, and can be used both as a standalone procedure or to help enhance many other regularly performed cosmetic and reconstructive procedures such as a breast lift and combined breast reduction and lift.


The global aesthetic breast surgery market is currently valued in excess of $1 billion per annum.  Among the most common procedures in this market are breast augmentation with implants and/or fat transfer, breast lift procedures, and breast reduction.  According to the American Society for Aesthetic Plastic Surgery (ASAPS), over 600,000 of these procedures were performed in the US in 2016, up 6% on the prior year. In each of these procedures, there is often the need for tissue repositioning and or support in order to achieve the maximum aesthetic result. It is estimated that around 20% of all aesthetic breast procedures predominately target lifting rather than volumisation.


Commenting on Refine™ Dr Bruce Van Natta, a board certified plastic surgeon and clinical assistant professor in the plastic surgery section of Indiana University Medical Center in Indianapolis says "Over the last several years I have had the opportunity to treat over 150 patients with the Refine™ Support System as we have developed the product and techniques.  I have found Refine™ to be highly beneficial in both my breast lift and breast reduction procedures, providing a means to achieve and maintain upper pole fullness that I find to be unobtainable without Refine™.  The technique learning curve is short and we have had minimal adverse events. My patients are very active and routinely engage in sports and aerobic workouts without any limitations.  It would be very hard to imagine no longer having the Refine™ Support System in my armamentarium given the results and patient satisfaction we are achieving; results that we cannot obtain in any other way"


The Refine™ Support System has been cleared by the US FDA for the reinforcement of soft tissue in plastic or reconstructive procedures. Following completion of the acquisition Sinclair will submit the product for regulatory review in Europe and Brazil as well as other key aesthetic markets in Asia, Middle East and Latin America, with initial approvals and launches in the first non-US territories expected in 2019.


Sinclair has amended the existing distribution agreement with ThermiGen LLC to include the Refine™ Support System, which will allow the product to be sold alongside Silhouette Instalift™ by Thermi's existing sales force of over 60 representatives, with initial marketing efforts focussed towards their well-established plastic surgeon client base.


The shareholders of Refine LLC will receive an initial consideration of $0.6m.  They will also be eligible for future milestone and royalty payments. The total consideration will be split as follows 1) The up-front payment of $0.6m payable in cash 2) Deferred consideration of $0.6m payable in December 2017 in cash or shares at Sinclair's option, 3)Up to $6.1m in largely sales related milestone payments with full pay-out only achieved once cumulative sales exceed $10m 4) A single digit gross profit royalty, capped at $4.0m and payable only when cumulative sales have exceeded $5m.


"This acquisition is another important milestone in our strategy of building a leading global pure-play aesthetics company", said Chris Spooner, CEO of Sinclair. "The Refine™ product strengthens our Silhouette brand and gives us immediate access to the $600 million US breast cosmetic surgery market. We believe this product has significant global potential both as a standalone and to complement other regularly performed procedures. Following future regulatory approvals, we will launch the product into the other large aesthetic markets around the world, with the initial focus on Europe and Brazil."


Jeff Thompson, non-executive Director of Sinclair, has a beneficial interest of 52% of Refine LLC and in light of the total consideration that may be paid to Refine LLC the acquisition constitutes a related party transaction under the AIM Rules for Companies.  The Directors of Sinclair, other than Jeff Thompson, having consulted with Peel Hunt LLP, the Company's Nominated Adviser, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.


The assets being acquired consist of patents, trademarks, product registrations and all knowhow relating to the manufacture of the product. The Refine Support System generated a pre tax loss of $50,000 in 2016 and the assets are valued at $nil in the balance sheet of Refine LLC.


This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of Sinclair is Alan Olby, Chief Financial Officer.



For further information please contact:

Sinclair Pharma plc

Tel: +44 (0) 20 7467 6920

Chris Spooner

Alan Olby

Andy Crane



Peel Hunt LLP (NOMAD and Joint Broker)

Tel: +44 (0) 20 7418 8900

James Steel

Oliver Jackson



RBC Capital Markets (Joint Broker)

Tel: +44 (0) 20 7653 4000

Marcus Jackson

Laura White



Media enquiries

FTI Consulting

Tel: +44 (0) 203 727 1000

Ben Atwell

Brett Pollard

Stephanie Cuthbert




Notes to Editors:


About Sinclair Pharma plc 

Sinclair Pharma plc is an international company operating in the fast growth, high gross margin, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. The Company is planning entry to multiple new geographic markets and line extension launches over the next few years. Sinclair has an established sales and marketing presence in the leading EU markets and Brazil, and a network of international distributors.


For more information, please visit

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t