capital partners

Concert tech strikes chord with $37M VC round

Wed, 30 Apr 2008 06:59:56 -0400

Even before its first compound hits the clinic, Concert Pharmaceuticals is having no trouble raising venture funds. The Lexington, MA-based developer has just ginned $37 million in a new venture round, bringing its total haul to a whopping $95 million.

Investors appear quite taken with Concert's technology: replacing ordinary hydrogen atoms founds in therapies with deuterium, a heavy form of hydrogen. Using hydrogen with double the mass should make a range of drugs safer and more effective--giving Concert a wide field to play in.

Concert's lead therapy is CTP-347, which goes into the clinic later this year to study its effect on hot flashes. Brookside Capital Partners Fund LP, Flagship Ventures, Greylock Partners, Adage Capital Management LP, and Westfield Capital Management all participated in this latest round.

- see Concert's release
- read the report in the Boston Globe

ALSO: Germany's Apogenix has raised €27.5 million in its second round of financing. The company is developing new therapies involving programmed cell death. The new money extends their runway into 2010, when the biotech expects to obtain proof of concept data on its lead therapy. Release

Transave aims for proof-of-concept after $35M round

Mon, 31 Mar 2008 07:59:56 -0400

Venture capitalists Rich Kollender and Steve Kraus are joining the board at Transave after helping come up with $35 million in new venture backing to get the developer through to proof-of-concept data. Quaker BioVentures and Bessemer Venture Partners led the Series D, joined by TVM Capital, Prospect Venture Partners, Fidelity Biosciences, Forbion Capital Partners and Easton Capital.

"Proceeds from the financing will enable Transave to deliver Phase II proof of concept data for our lead clinical compound, Arikace (liposomal amikacin for inhalation). We are on track to have Arikace Phase II clinical data in cystic fibrosis patients that have Pseudomonas lung infections this year. In addition, Phase II bronchiectasis data will be available in the first half of 2009," said Tim Whitten, president and CEO of Transave.

The biotech describes Arikace as a form of the antibiotic amikacin enclosed in nanocapsules of lipid called liposomes. This "liposomal technology prolongs release of amikacin in the lung while minimizing systemic exposure."

- check out the press release

Stem cell institute in wrangle over office costs

Thu, 13 Mar 2008 07:59:55 -0400

California's stem cell institute says the property management company that promised to underwrite all their office operating costs in San Francisco appears to be reneging on the deal, and they're bringing out the legal guns to make them pony up as promised.

The dispute dates back to a deal negotiated by San Francisco's mayor to give the institute a 10-year, rent-free office in San Francisco as an incentive to lure them to the Bay area. As part of that deal, Stockbridge Capital Partners allegedly promised to cover almost half a million dollars in annual office overhead for utilities, parking and so on.

Stockbridge says that it's keeping its pledge to provide rent-free space and has been working with contributors to cover costs. The institute says it wants to make sure all i's are dotted and every t is crossed before operating costs stack up.

- read the article from the San Francisco Chronicle

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Stem cell institute to foster start-ups with loans. Report
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Wealthy supporters back California stem cell research. Report

Dutch biotech gains $34M for clinical work

Wed, 05 Mar 2008 06:59:55 -0500

The Dutch biotech PanGenetics has rounded up $34 million in venture backing for the clinical development of two antibody programs. The round was led by Edmond de Rothschild Investment Partners with contributions from Biogen Idec New Ventures, Fortis Private Equity, Forbion Capital Partners and Credit Agricole Private Equity. A Phase I study of the company's CD40 antagonist PG102 in psoriatic arthritis patients is expected to start mid-year. PG110, a humanized antibody targeting nerve growth factor, is in preclinical development, slated for a study in patients suffering from chronic pain. Data is expected in late 2009.

Biogen Idec made it clear that the developer's work in the CD40 pathway--which is targeted by PG102--made this a logical investment. "Clearly Biogen Idec's investment in PanGenetics speaks to our continued belief in the importance of this pathway," says John Dunn, executive vice president of Biogen Idec New Ventures.

- check out the release

ALSO: Berwyn, PA-based Trevena--which is targeting G-protein coupled receptors--has closed on a $24 million Series A financing. Alta Partners and Healthcare Ventures led the round that included New Enterprise Associates and Polaris Venture Partners. Release

Related Article:
PanGenetics raises €13M in second round. Report

Santaris grabs $30M in third round venture cash

Tue, 18 Dec 2007 06:59:54 -0500

Denmark's Santaris Pharma has banked $30 million from its latest venture round. Gilde Healthcare Partners put up much of that money with BankInvest, Novo, LD, Forbion Capital Partners, Global Life Science Venture, Sunstone Capital, Seventure, Omega, Innovation Capital and members of the company's board and management joining in.

Santaris has been studying RNA antagonist drug candidates based on its LNA chemistry. In 2008 the company said it expects to advance its SPC2996 compound, an RNA antagonist of Bcl-2, into Phase II clinical trials in chronic lymphocytic leukemia and B-cell lymphoma and initiate phase I volunteer studies of two new RNA antagonists for metabolic disorders.

- check out the release for more info

Related Articles:
Santaris inks $200M collaboration with Enzon. Report
Santaris Pharma pockets $48.3M in VC. Report

Fovea gains $44M in Series B

Wed, 12 Dec 2007 06:59:57 -0500

Paris-based Fovea Pharmaceuticals has raised €30 million ($44 million) in a Series B financing. The round was led by Forbion Capital Partners and also included Sofinnova Partners, Abingworth, GIMV, The Wellcome Trust and CAPE.

Fovea will use the funding to advance FOV1101 for chronic allergic conjunctivitis into Phase II. The company will also start Phase II studies of its FOV2302 and FOV2301 for the treatment of acute and diabetic macular edema, respectively. A fourth drug candidate, FOV2501, is expected to enter clinical trials in the first half of 2009.

- see this release

ALSO: CDI Bioscience has received $3 million in VC funding. Battelle Ventures and its affiliate fund Innovation Valley Partners were the sole investors in this first round of financing. Release

Related Articles:
Fovea raises €20.5M. Report
Genzyme, Fovea sign blindness therapy deal. Report

Genzyme lands $345M acquisition of Bioenvision

Tue, 23 Oct 2007 06:59:56 -0400

Genzyme is laying claim to the keys to Bioenvision after winning shareholders' approval of the $345 million buyout. SCO Capital Partners, which owns 13 percent of Bioenvision, had fought the deal, saying that the bid undervalued the company. That argument failed to sway a majority of shareholders, though, who are getting $5.60 a share. Genzyme walks away with all the rights to the cancer drug clofarabine, which it co-developed with Bioenvision.

- take a look at the release
- read the report from the International Herald Tribune

Related Articles:
Bioenvision shareholders shun Genzyme takeover bid. Report
Who's next on the biotech buyout hit list? Report
Genzyme wins bidding war for AnorMED. Report
Boston officials herald big Genzyme expansion. Report

Press Release: Kiadis Pharma Raises Euro 15 Million to Advance Oncology Pipeline

Maureen Martino — Tue, 26 Jun 2007 10:30:39 -0400

Kiadis Pharma Raises Euro 15 Million to Advance Oncology Pipeline

AMSTERDAM, June 26 - Oncology product development company Kiadis Pharma announced today that it has completed a Euro 15 million private financing round. Alta Partners, a prominent life science venture capital company based in San Francisco, led the financing round. Other major new investors include Quest for Growth and MedSciences Capital. All of the major existing investors also contributed to this round, including founding investor Life Sciences Partners, Esprit Capital Partners LLP and N.V. NOM (Investment and Development Agency for the Northern Netherlands).

The Kiadis Pharma product pipeline is focused on providing novel treatments for significant unmet medical needs in the field of bone marrow transplants and the treatment of aggressive cancers. The four most advanced products are currently in clinical trials, ranging from Phase I to entering Phase III. Kiadis Pharma's lead product is ATIR, which enables the use of mismatched bone-marrow donors in transplantations for terminally ill blood cancer patients. Kiadis Pharma is a Dutch company with locations in The Netherlands and Canada.

Ekaterina Smirnyagina, of Alta Partners, joining the Supervisory Board of Kiadis, added: "We were impressed by the broad endorsement of Kiadis' clinical programs within the international scientific community. Its lead product, ATIR, is being tested by opinion leaders in the field as a potentially life-saving treatment option for patients unable to find a matched bone-marrow donor, while also preventing graft-versus-host disease (GvHD). We look forward to working with the seasoned management of Kiadis and its investors on building a premier oncology company".

Mark Wegter, Chairman of the Supervisory Board of Kiadis Pharma and General Partner at LSP, commented: "Following the acquisition of Celmed late last year, this is yet again a key milestone that has been achieved by the company and its management. It marks the next step in the further growth of Kiadis Pharma which we feel is positioned to become a major force in the European biotech arena. We are very pleased to see our excitement about the company being shared by other high quality US and European investors."

Manja Bouman, CEO, Kiadis Pharma, stated: "We are delighted by this latest funding round. Our shareholders provide a particularly strong knowledge base with an excellent track record in life sciences. Bringing in Alta Partners as our lead investor is an important external validation. Not only does it confirm the potential of many of our clinical trials, but it also demonstrates the overall confidence of sophisticated investors in our novel treatments."

She added: "Earlier this year we announced the trial of our ATIR product on nine end-stage blood cancer patients who were transplanted in the mismatched setting with the use of ATIR. All patients responded well. This treatment is at a very exciting stage in its development and this trial was an important milestone in our revolutionary approach to providing successful mismatch transplants for end stage blood cancer patients."

About Kiadis Pharma

Kiadis Pharma is an oncology focused pharmaceutical company with four programs in different phases of clinical development. The company develops products that offer new treatment options for terminally ill cancer patients and address significant unmet medical needs. Key areas for Kiadis Pharma are clinical indications in blood cancers and solid tumors. Kiadis Pharma is headquartered in the Netherlands with facilities in Groningen, the Netherlands and Montreal, Canada. For more information about Kiadis Pharma, please visit www.kiadis.com

About Alta Partners

Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm currently manages $2 billion in committed capital through eight venture fund programs. Alta invests in life sciences companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 110 companies in the sector to date. www.altapartners.com

About LSP

LSP (Life Sciences Partners) is a leading independent European-headquartered venture capital firm, providing private equity financing to early- to mid-stage life-science companies. With EUR 400 million under management and offices in Amsterdam, Munich and Boston. For more information about the LSP Group, please visit the website at www.lspvc.com

About MedSciences Capital

MedSciences Capital (www.medsciencescapital.com) is an Amsterdam-based investor in early- to mid-stage medical life sciences companies. MedSciences Capital operates as a part of the Dutch merchant bank, Kempen & Co N.V. (www.kempen.nl).

For further information

Kiadis Pharma B.V., Dr. Manja Bouman, CEO, Email: m.bouman@kiadis.com, Telephone: +31 (0)50 547 4270 Alta Partners, Jennifer James, Director of Marketing and Communications, Email: jjames@altapartners.com, Telephone: (415) 362-4022 LSP, Mark Wegter, General partner, Email: mwegter@lspvc.com, Telephone: +31 (0)20 664 5500 MedSciences Capital, Willem van Lawick, MD, MBA, Director, Email: lawick@medsciencescapital.com, Telephone: +31 (0)20 348 8702

Editor's Corner

Thu, 11 Jan 2007 19:01:39 -0500

FierceBiotech caught up with Bart Bergstein, the managing partner of Forbion Capital Partners, earlier this week to discuss the latest trends he's seeing in venture capital. Forbion operates from offices near Amsterdam and recently spun out of ABN AMRO with a new €200 million fund that will be betting heavily on drug development over the next three years. While Bergstein offers some key insights into the European market, he's also an accomplished player on both sides of the Atlantic. His portfolio includes the lead role in a series B €40 million fundraising for Santaris Pharma, the €22 million series A investment in Amsterdam Molecular Therapeutics and the €13 million series B round of PanGenetics. You can learn more about what Bergstein is seeing--and doing--in our Friday Feature below.

We'll be rolling out a regular series of interviews and trend stories over the coming year. Late next month we'll also offer up our first webinar of the year on economic development. This is all part of our plan to continue to expand our coverage of biotechnology to bring you the kind of insight biotech insiders need to do their jobs.

As for Monday, it's Martin Luther King Jr. Day, and we're taking off for the holiday. We'll see you again on Tuesday, January 16th. - John Carroll

Press Release: Forbion Capital Partners, Raises a EUR 200M Life Sciences Fund

Maureen Martino — Mon, 08 Jan 2007 12:39:05 -0500

Forbion Capital Partners, Formerly ABN AMRO Capital Life Sciences, Spins out of ABN AMRO Capital and Raises a EUR 200 M Life Sciences Fund

The Newly Formed Forbion is Comprised of the Team From ABN AMRO Capital Life Sciences With Coller Capital and ABN AMRO as Founding Investors

AMSTERDAM, January 8 -- Forbion Capital Partners (Forbion) is pleased to announce that it has spun out the life sciences venture activities of ABN AMRO Capital to form a new, independent Venture Capital group. Forbion has raised a EUR 200 M fund with ABN AMRO and Coller Capital as founding investors. ABN AMRO has a 25% shareholding in the new fund, while Coller Capital has underwritten the remainder.

The new fund, which incorporates the existing life sciences portfolio of ABN AMRO Capital valued at EUR 90 M, has substantial capacity for new investments, in addition to follow on capabilities for existing investments.

The Forbion Capital Partners management team is founded from the original ABN AMRO Capital Life Sciences team (AAC LS team). This team represents a wealth of knowledge and experience from scientific, financial and business backgrounds. Over the past seven years the Forbion team, as AAC LS, has made more than 30 investments across Europe and the US, resulting in top-quartile cash returns. During this period the members of the team have served on the Board of Directors of nearly all the portfolio companies. Recent accomplishments for the Forbion team include leading the series B EUR 40 M fundraising of Santaris Pharma, A/S as well as the EUR 22 M series A investment in Amsterdam Molecular Therapeutics and the EUR 13 M series B round of PanGenetics BV.

In addition to providing finance to investee companies, the Forbion team works closely with entrepreneurs, industry experts and academic institutions to accelerate the development of its companies and to optimize value creation toward an exit.

"We are proud to have such a high quality investor as Coller Capital on board, and the continued anchor investment of ABN AMRO. Forbion Capital Partners, as an independent fund, will facilitate the expansion of our investment activities in this exciting field and thus further build on our track record gained as ABN AMRO Capital Life Sciences", says Bart Bergstein, Managing Partner of Forbion.

"We are delighted to support the Forbion team in this new and exciting phase of their development; we regard them as one of the leading life sciences groups in Europe. We look forward to working closely with them in the development of their business" says Jeremy Coller, CEO of Coller Capital.

"This transaction is part of ABN AMRO Capital's strategy to focus on mid-sized European buy-outs. Hence, while recognising Life Sciences as an interesting investment segment, the Bank has decided to change its captive position to a limited partner role. Since we have confidence in this asset class and the capabilities of the management team we remain involved as cornerstone investor in the Forbion fund. This team has a proven track record of profitable investments and we firmly believe they will be able to deliver attractive portfolio returns in the future", says Gerben Kuijper, Chairman of ABN AMRO Capital.

About Forbion Capital Partners

Forbion Capital Partners invests in EU and US Life Sciences companies with a focus on human health, developing world-class products and technologies. The Forbion team has made life sciences investments since 2000 as ABN AMRO Capital Life Sciences, the venture arm of ABN AMRO Bank NV. In December of 2006 the group became independent by broadening its investor base and changed its name to Forbion Capital Partners. Since 2000, the Forbion team has successfully divested a number of investments, leaving an active portfolio of 25 companies. Assets under management currently total over EUR 200 M. For more information, please visit www.forbion.com

About Coller Capital

Coller Capital, founded in 1990, is the leading global investor in private equity secondaries - the purchase of original investors' stakes in private equity funds (venture capital, buyout and mezzanine) and the acquisition of portfolios of companies from corporate owners/backers. The firm invests from $10 million to more than $1 billion in individual transactions.

Coller Capital is in the process of closing its latest fund, Coller International Partners V, which is expected to have commitments of approximately $4.5 billion from almost 200 international institutional investors - the largest secondaries fund in the world.