Deloitte Agrees to Acquire Recombinant Capital, A Leading Life Sciences Subscription Database and Advisory Services Firm

    NEW YORK, June 16 /PRNewswire/ -- Deloitte has announced today an
 agreement to acquire Recombinant Capital, Inc. (Recap), a leading life
 sciences subscription database and advisory services firm. Included in the
 acquisition is Recap's unique database that provides more than 1,500
 subscribers with access to over 20 years of historical data used to track
 significant publicly available information in the life sciences industry,
 ranging from alliance formations to intellectual property ownership and
 clinical trials data.
 
     Deloitte's life sciences consulting practice was ranked number one by
 Kennedy Information in 2007 in terms of revenue and market share. Deloitte
 will further reinforce its market leadership position with the acquisition
 of Recap. The transaction also extends Deloitte's portfolio of services to
 include subscription database services, further complementing the
 consulting, financial advisory, tax, audit and enterprise risk services
 currently offered to life sciences clients. The addition of Recap's
 services will enhance Deloitte's litigation support, M&A, licensing and
 valuation capabilities.
 
     "New business models are emerging that require life sciences companies
 to consider new strategies for growth, including forging alliances,
 entering emerging markets, executing mergers and acquisitions and
 developing new types of drugs," said Terry Hisey, vice chairman and US
 industry leader for Deloitte LLP's Life Sciences industry group. "With the
 addition of Recombinant Capital, Deloitte will be uniquely positioned to
 provide clients with unparalleled access to information and analyses
 critical to management in their development of future growth plans."
 
     "The choice to integrate Recombinant Capital and Deloitte merges
 Recap's unique strategic data with Deloitte's scale, scope of services and
 client base, creating a powerful combination," said Mark Edwards, founder
 and managing director of Recombinant Capital. "Our clients will benefit
 from Deloitte's proven industry track record, and our people will benefit
 from the opportunity to continue to develop their careers with one of the
 world's leading professional services firms."
 
     Recap's customers include approximately 90 percent of the top-tier
 biotech and pharmaceutical companies by market capitalization. The company
 also serves as a supplier of data to organizations, including venture
 capital firms, major law firms, universities and medical centers.
 
     The acquisition is expected to be completed within the next month.
 Financial terms of the transaction have not been disclosed.
 
     About Deloitte
 
     As used in this document, "Deloitte" means one or more subsidiaries of
 Deloitte LLP. Please see www.deloitte.com/about for a detailed description
 of the legal structure of Deloitte LLP and its subsidiaries.
 
     About Recombinant Capital
 
     Recombinant Capital (Recap) is a San Francisco Bay Area-based
 subscription database and advisory services firm. Recap's mission is to
 ensure availability of adequate resources for biotechnology enterprises by
 providing comprehensive and timely advice and analysis related to the
 environment for corporate and product development and alliance formation.
 Recap's clients include biotechnology and pharmaceutical companies, plus
 several universities, investment banking and venture firms active in the
 biotechnology area.
 
 

     Marykate Reese
     Public Relations
     Deloitte
     +1 203-257-0452
     mareese@deloitte.com
 
 

SOURCE Deloitte