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Case Study

Cyna Pharma: Reaping the rewards of perseverance (A)

By Benoit F. Leleux, Jennifer Jordan, Omar Toulan and Beverley Lennox

17 pages

January 2022

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Reference: IMD-7-2316

The A case tells the story of Anthony Giovinazzo’s entrepreneurial journey with Cyna Pharma, which he built from the ground up. Cyna Pharma was a Canada-based specialty pharmaceutical company that was at the point of conducting Phase 3 clinical trials in 2016 for its main product: APL-130277 – a novel delivery mechanism for an existing drug called apomorphine, used for on-demand treatment of the debilitating off-episodes (freezing) associated with Parkinson’s disease (PD). The case provides an overview of Anthony’s unique background, the off-episodes associated with Parkinson’s disease, the specialty biopharma sector, the funding rounds to get to Phase 3 clinical trials and the brushes with disaster along the way. It also describes the steps to getting listed on the NASDAQ and the benefits of doing so. After an earlier offer to acquire the company the case ends with a similar offer from Sundown Pharma a year later. As the case comes to a close, Anthony is faced with a moment of truth: Should he move forward with launching the product himself, or should he license his product with a partner or agree to an outright acquisition by a big pharma company?

Learning Objective

Managing growth in a biopharma company
Leadership in a pharma company, from start-up to listed firm and trade sale
Developing resilience in a firm – managing risk

Keywords

Entrepreneurship, Leadership, Biopharmaceutical, Initial Public Offering, Clinical Trial, Funding, Acquisition, Finance

Settings

Canada
Cyna Pharma (Disguised), Healthcare, Biopharmaceuticals
2002–2016

Type

Field Research

Available Languages

English

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