Case Study

Cyna Pharma: Reaping the rewards of perseverance (A)

17 pages
January 2022
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
Biopharmaceutical, Initial Public Offering, Clinical Trial, Funding, Acquisition
Cyna Pharma (Disguised), Healthcare, Biopharmaceuticals
Field Research
© 2022
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