Munich – Through the acquisition of the Swiss company GlycArt Biotechnology AG for 235 Mio. CHF by Roche Holding AG, DVC Deutsche Venture Capital achieves the sixth successful exit out of its life sciences portfolio within one year. The transaction is expected to close in the third quarter of 2005. Roche plans to maintain the GlycArt facility as a fully integrated part of the Roche Pharma research organization.
Dr. Jörg Neermann, Managing Partner at DVC, remarked: „We are pleased about the sixth successful exit transaction out of our life sciences portfolio within 12 month. Following three IPOs and two trade respectively asset sales, the very well-positioned biotechnology company GlycArt has generated the acquisition interest of big pharma. This reflects, contrary to all moods, that also in
The biotechnology company GlycArt was founded in 2000 as a spin-off from the Swiss Federal Institute of Technology. The company is focused on the research and development of therapeutic antibodies for the treatment of cancer and autoimmune diseases, based on its proprietary GlycoMAb technology, which is a method of increasing the potency of therapeutic antibodies. GlycArts’s technology will further strengthen Roche’s engagement and potential as well as its leading global market position in the area of oncology. In addition GlycArt’s product pipeline includes three monoclonal antibodies in preclinical development for cancer.
Dr. Thomas Taapken, Partner at DVC, pointed out: “The very successful trade sale of GlycArt biotechnology AG to Roche marks an important milestone for the European biotechnology industry in general and for DVC in particular. We have demonstrated to be in the position to identify and invest into excellent young companies in
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Last updated on: 27/08/2010