Intelligent, informed, innovative

Experience the difference with Instinctif Partners

Clinigen Group

How did we communicate complex transactions within a difficult market?



Between July 2018 and February 2019, Clinigen completed two company acquisitions (CSM and iQone) worth over $150 million with sites across the US and EU, as well as acquiring the global rights to two products, Immukin and Proleukin. The US rights for Proleukin alone were worth up to $210 million.

To fund these acquisitions, Clinigen increased its debt levels substantially and undertook a fundraising at a time when markets were moving to a more risk averse strategy.

The number and cumulative value of these acquisitions required a careful, integrated communications approach for both external and internal audiences.


We created an overarching communications plan to explain each acquisition within the context of the Group’s strategy and vision.

The starting point was clear messaging to ensure Clinigen’s rationale was consistently explained across all audiences.

We worked closely with Clinigen’s other advisers to ensure these messages were reflected in the deal documents.

Instinctif also created a video to be shared with 1,200 staff worldwide on the morning of the acquisition announcements and organised conference calls for sell-side analysts.

Other collateral included leak statements, press releases, investor and staff presentations, Q&As, customer emails and gatekeeper guidelines.


Despite the complexity of the news, the integrated approach to communications was successful both externally and internally.

Externally, this was evident in February 2019, when Clinigen made its final acquisition in the period – the US rights to Proleukin for up to $210 million. Clinigen’s share price jumped by 25%.

Investors had been cautious about further acquisitions, so to see the price rise so substantially reflected the market’s understanding of overall strategy and the value of this final piece of the puzzle.

Internally and equally important, employees and customers appreciated the effort of the management to speak to them directly and better understood the overall company strategy.