MIRA
INFORM REPORT
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Report Date : |
28th March 2007 |
IDENTIFICATION
DETAILS
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Name : |
ACTIMUS BIOSCIENCES PRIVATE LIMITED |
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Registered Office : |
7 – 8 – 1/ 3, 4th Floor, Varun Towers. Kasturba Marg,
Siripuram, Visakhapatnam – 530 003, Andhra Pradesh, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.01.2004 |
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Com. Reg. No.: |
01-42512 |
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CIN No.: [Company
Identification No.] |
U74140AP2004PTC042512 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
VPNA01282B |
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PAN No.: [Permanent
Account No.] |
AACCT1298A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Drugs, Pharmaceuticals, Diagnostic, Medicine supply,
Deal in Organic and Inorganic Substances, Compounds, Chemicals and all other
related and allied services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 104000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Director are reported as experienced and respectable businessmen.
Trade relations are fair. Business is active. Payments are usually correct
and as per commitments. The company can be considered normal for business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
7 – 8 – 1/ 3, 4th Floor, Varun Towers. Kasturba Marg,
Siripuram, Visakhapatnam – 530 003, Andhra Pradesh, India |
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Tel. No.: |
91-891-6672000/ 100/ 200/ 300 |
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Mobile No.: |
91-9347065660 |
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Fax No.: |
91-891-6672111 |
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E-Mail : |
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Website : |
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Branch : |
USA Ramnath Reddy, Managing Director Boston, MA, USA. |
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Tel. No.: |
1-617-438-9968 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ramnath Reddy |
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Designation : |
Chairman and Managing Director |
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Address : |
Plot No. 124, Phase III, Kamalapuri Colony, Hyderabad – 500 034,
Andhra Pradesh, India |
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Date of Birth/Age : |
02.12.1966 |
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Date of Appointment : |
From date of Incorporation |
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Profile: |
Ramnath Reddy brings all his
experience in the healthcare, pharmaceutical and medical industries to
Actimus Bio. He previously served in
several senior management roles like Global Head, Business Development for
top five Indian CROs in the Drug Discovery and Development He is on the board of several
local companies involved in the Life Sciences field. He has worked on
strategic issues with biotech and pharmaceutical companies in the USA and in
Europe. Reddy received his B.S in Chemical Engineering from Andhra
University, Visakhapatnam and M.S. in Biomedical Engineering from University
of Massachusetts, Boston, MA. In addition, he was Research Fellow at
the Department of Molecular Pharmacology, Physiology and Biotechnology
(MPPB), Brown University, Providence, RI. |
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Name : |
Mr. Gangaputra Rajesh |
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Designation : |
Director |
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Address : |
Flat No. 206, Aravinda Vihar Apartments, Arvinda Nagar Colony, Gagan
Mahal, Hyderabad – 500 029, Andhra Pradesh, India |
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Date of Birth/Age : |
28.11.1974 |
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Date of Appointment : |
From date of Incorporation |
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Name : |
Mr. A. Parthasaradhi Reddy |
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Designation : |
Director |
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Address : |
Plot No. 124, Phase III, Kamalapuri Colony, Hyderabad – 500 034,
Andhra Pradesh, India |
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Date of Birth/Age : |
31.08.1969 |
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Date of Appointment : |
04.11.2004 |
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Name : |
Mr. D. Sucharitha Devi |
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Designation : |
Director |
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Address : |
Plot No. 116A, MLA Colony, Road No. 12, Banjara Hills, Hyderabad – 500
034, Andhra Pradesh, India |
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Date of Birth/Age : |
239.1948 |
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Date of Appointment : |
04.11.2004 |
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Name : |
Mr. C. Ananta Satyavati |
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Designation : |
Director |
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Address : |
BH 2/ 2, IAS Officers Quarters, Road No. 10, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India |
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Date of Birth/Age : |
19.07.1953 |
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Date of Appointment : |
04.11.2004 |
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Name : |
Mr. Michael V Fernandes |
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Designation : |
Director |
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Address : |
2B, Place Road, Basanth Nagar, Bangalore, Karnataka, India |
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Date of Birth/Age : |
30.01.1946 |
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Date of Appointment : |
25.08.2005 |
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Profile : |
Dr. Fernandes is an American
Board of Internal Medicine (ABIM) certified physician with experience in
university-based clinical medicine, and clinical research in pharmaceutical and
biotechnology industry in the US and Europe. He trained at The Christian
Medical College and Hospital, Vellore and obtained a MBBS degree from Madras
University. Previously, he was Director-
Clinical Research at G D Searle, Skokie, Illinois (and Synthelabo, Paris) and
Senior Director- Global Clinical Research and Development at Wyeth Research,
Radnor, Pennsylvania. Overall, he has 15 years of experience in conducting
Phase I-III clinical trials for products in cardiovascular, GI, diabetes, and
metabolic diseases, and Phase IV global market support programs for
cardiovascular products. Earlier appointments include: Associate Professor,
Medicine, Faculty - Clinical Pharmacology Unit and Director, Hypertension
Research Laboratory, Drexel University Hospital, Philadelphia, Pennsylvania
and as an Associate Professor, Medicine, Staff Nephrologist and Medical
Director, Renal Transplantation Center, Temple University/ Albert Einstein
Medical Center, Philadelphia , Pennsylvania. |
KEY EXECUTIVES
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Name : |
Mr. Louis Leeburg |
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Designation : |
Chief Financial Officer |
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Profile : |
Leeburg was previously the
Chief Financial Officer at The Fetzer Institute, a non-profit private
operating foundation and is currently the Senior Financial Advisor. He is a
member of Financial Foundation Officers Group and the treasurer and trustee
for the John E. Fetzer Memorial Trust Fund and the John E. Fetzer ILM Trust
Fund. He has held senior financial positions with several organizations with
an emphasis in investment management. Leeburg is also on the Board of Directors at Cempra Pharmaceuticals
Inc., Raleigh, NC. Board member of several not for profit organizations
including Earth Council U.S.A an environmental charity started after
the 1992 Earth Summit in Rio de Janeiro, Institute of Noetic Sciences, the
Betsy Gordon Foundation and the Wellness Community in Phoenix offering free
psycho-social services to cancer patients and their caregivers. At Price Waterhouse and Company, he served as an audit
manager responsible for the organization and administration of audit
examinations in various industries including Banking, Mining, Real estate,
Media and Non-Profit organizations. Leeburg is the director and chair of the
audit committee of LightPath Technologies Inc. a NASDAQ listed company and
recognized as the accounting expert for SEC and Sarbanes-Oxley purposes. |
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Name : |
Dr. Sherifuddin Sheriff Shaik |
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Designation : |
Head – Clinical Research |
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Name : |
Mr. Venkat Anil Bodepudi |
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Designation : |
Head – Clinical Operations |
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Qualification : |
M. Pharm |
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Name : |
Mr. Abhijit Arun Chaudhari |
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Designation : |
Manager – Business Development |
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Qualification : |
B. Pharm, M. B. A. |
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Name : |
Mr. Krishna Rao Desharaju |
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Designation : |
Manager Finance and Corporate Affairs |
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Qualification : |
M. Com., ACS |
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Name : |
Mr. Parasuram Dhulipalla |
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Designation : |
Lead – Quality Assurance |
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Qualification : |
M. Sc. |
SHAREHOLDING
PATTERN
As on 31.03.2006
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Names of Shareholders |
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Percentage of
Holding |
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Foreign Holdings (Foreign Institutional Investors/ Foreign Companies/
Foreign Financial Institutions/ Non-Resident Indians or Overseas Corporate
Bodies or Others) |
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15.67 |
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Directors and Relatives of Directors |
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84.33 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Drugs, Pharmaceuticals, Diagnostic, Medicine supply,
Deal in Organic and Inorganic Substances, Compounds, Chemicals and all other
related and allied services. |
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Products : |
Ţ Drugs Ţ Pharmaceuticals Ţ Diagnostic Ţ Medicine Ţ Organic and
Inorganic Substances Ţ Compounds Ţ Chemicals |
GENERAL INFORMATION
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No. of Employees : |
-- |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P S Nagaraju and Company Chartered Accountants |
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Address : |
Flat No. 403, 5th Floor, Megasri Classic, Dwarakapuri
Colony, Punjagutta, Hyderabad – 500 082, Andhra Pradesh, India |
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Subsidiaries : |
Ţ Pharma
Development Inc., USA |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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636600 |
Equity Shares |
Rs. 10/- each |
Rs. 6.366 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.366 |
0.100 |
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2] Share Application Money |
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13.608 |
6.000 |
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3] Reserves & Surplus |
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6.000 |
0.000 |
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NETWORTH |
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25.974 |
6.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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2.000 |
0.000 |
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TOTAL BORROWING |
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2.000 |
0.000 |
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TOTAL |
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27.974 |
6.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.443 |
4.585 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Cash & Bank Balances |
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1.993 |
0.561 |
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Other Current Assets |
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0.391 |
0.251 |
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Loans & Advances |
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0.465 |
0.143 |
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Total
Current Assets |
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2.849 |
0.955 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.639 |
0.883 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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1.639 |
0.883 |
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Net Current Assets |
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1.210 |
0.072 |
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MISCELLANEOUS EXPENSES |
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15.321 |
1.443 |
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TOTAL |
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27.974 |
6.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.14 |
1.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.74 |
1.08 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
Actimus Biosciences Private Limited (Actimus Bio) is an independent contract research organization committed to delighting sponsors (research partners) by providing disciplined service, with integrity and reliability.
They offer Contract Research-Partnership Services that help global pharmaceutical and biotech companies enhance their R&D success.
It is a full service BA/BE CRO dedicated to meeting the needs of pharmaceutical and biotechnology companies. Actimus Bio offers an extensive range of clinical services including study design, project management, medical safety monitoring, biostatistics, quality assurance auditing, regulatory submissions and scientific communications.
With its own state of the art clinical research facilities in Visakhapatnam and best clinical expertise, it is well positioned to establish a successful track record of service excellence in the pharmaceutical world.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.47 |
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UK Pound |
1 |
Rs.85.36 |
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Euro |
1 |
Rs.57.89 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
YES |
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--OTHER MERIT FACTORS |
YES/NO |
43 |
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TOTAL |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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