March 22, 2021 at 4pm GMT
Hilco Streambank is seeking offers to acquire the intellectual property assets of UK-based pharmaceutical wholesale company, YJBPort Limited (in Administration).
Virgil H Levy, of LA Business Recovery Limited, as Administrator of YJBPort Limited (in Administration) (“YJBPort” or the “Company”) has appointed Hilco Streambank to seek interested parties with regards to the Company’s intellectual property assets.
Established in 2007, YJBPort is a UK-based pharmaceutical generics wholesaler that developed and sold generic sale list, over-the-counter, and prescription only medicines. The Company specialised in vitamin and supplement products.
The Company’s principal product, ThickenAid, is a starch-based thickener indicated to be used to thicken the foods of patients suffering from dysphagia. This product is an exemption from the licensing and other provisions of the Human Medicines Regulations 2012 by the MHRA and is an approved borderline substance and is manufactured and sold in the UK by a third-party distributor. GPs typically prescribe the product to patients on a monthly basis as a brand on the prescription.
The global market for food thickeners was estimated to be worth c. $13bn in 2019. With over seven years of trading history, the ThickenAid brand historically achieved six-figure sales at a contribution margin after marketing of over 90%. The product has been widely promoted to speech and language therapists by sales staff and marketed through magazines and trade shows. It is one of only 11 product brands approved by the ACBS (The Advisory Committee on Borderline Substances) for use in the UK feed thickeners and pre-thickened drinks sector.
Assets for sale include the brand, supporting marketing assets and organisational knowledge underpinning the ThickenAid product.
The opportunity provides a purchaser with the scope to acquire the Company’s online marketing assets and collateral, re-establish or build relationships with manufacturers, and expand this recognised brand into other markets, such as that of gum-based thickeners and pre thickened drinks.
Goodwill in the ThickenAid Brand
Sold since 2012, ThickenAid is recognised by healthcare practitioners as a quality branded prescription product for use by patients with dysphasia.
Brand recognition with speech and language therapists (SLTs) and Clinical Commissioning Groups (CCGs) (who provide recommendations to GPs on prescription products) has been built up through direct engagement, trade shows, sponsored seminars, and exhibitions.
ThickenAid has been advertised in trade magazines and is listed on the British National Formulary’s website and Drug Tariff  as well as the C+D as an approved borderline product..
ThickenAid Trade Marks
The Company has registered UK trade marks protecting the name “ThickenAid” as well as its logo. The Company also holds rights in an unregistered trade mark featuring its logo and strapline. A trade mark schedule is available to download here.
The Company has developed assorted marketing materials in support of the brand and product. These include informative brochures, banners, postcards, animations, bar codes, and product labels.
The brand’s website, hosted at www.thickenaid.com, has been professionally developed to provide medical information and healthcare professional resources as well as data and information on the ThickenAid product, including product mixing guidelines. It includes a contact page for sales and product enquiries.
The Company holds right in two domain names associated with the ThickenAid brand:
The Company holds details of product studies, along with its recipe, and detailed manufacturing methodologies to support the product’s manufacture and regulatory approval. YJBPort holds documentation supporting certification from authorised bodies in multiple jurisdictions that the product is both Halal and Kosher. Management believe that this documentation is likely to be sufficient to support a purchaser submitting a ‘type three’ application to NICE in order to change the products manufacturer, if required.
All expressions of interest and bids are to be directed to Hilco Streambank in writing. A Bid Submission Form is available on request. Please contact Hilco Streambank to gain access to a virtual data room of further information on signing of a confidentiality agreement.
The Administrator acts as an agent of the Company and without personal liability.
The bidder acknowledges that Hilco acts as an agent for the Administrator of the Company who offers for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. Neither Hilco nor the Administrator have verified the information provided, and bidders are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank’s full Terms and Conditions apply.