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Press Release

Roche acquires Swiss based company GlycArt Biotechnology AG

DVC Deutsche Venture Capital
Posted on: 26 Jul 05

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 Europe good companies can be sold successfully.”

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 Europe that are seen as extremely interesting acquisition targets by the pharmaceutical industry. The level of interest by different parties in GlycArt has clearly proven this. It has been a pleasure to work as board member together with such a highly motivated and skilled management team.”

 

DVC Deutsche Venture Capital

DVC Deutsche Venture Capital, a leading venture capital firm based in Munich, focuses primarily on European growth companies in the areas of information, telecommunication, semiconductor and industrial technologies as well as life sciences. In the field of life sciences DVC invests in the development of therapeutic and diagnostic products as well as in platform and medical technologies. DVC’s total administrated fund volume amounts to 300 million Euro. For investments in private companies, DVC invests approximately 1 - 10 million Euro as lead investor or, in the case of larger financing rounds, as co-lead investor. DVC is a “value-added” financial investor. Each sector team consists of experienced investment managers with relevant backgrounds. Since its formation in 1998, DVC has invested in approximately 70 companies.

For more information:
http://www.glycart.com

Editor's Details

Heidrun Moll
DVC Deutsche Venture Capital
http://www.dvcg.de
+498941368712
heidrun.moll@dvcg.de

Last updated on: 27/08/2010

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