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Biocitech Companies Scoop EUR 100 Million in January
Two companies based in the Biocitech life science
technology park get big finance boost through a fund-raising round and a
license agreement
Paris, February 11, 2008 - Biocitech, the Paris life science technology park, announces today that two of the companies on its campus received EUR 100 million in January. The companies are Endotis Pharma SA, which raised EUR 25 million in its second (Series B) financing round, and Novexel SA, which signed a license agreement with Forest Laboratories Inc under which it receives an upfront payment of EUR 75 million. Endotis Pharma is a specialty pharma company dedicated to the discovery and development of small-glyco drugs (SGDs) for applications in thrombosis and oncology. In this new round, lead investor was the Wellcome Trust (UK). Endeavour Vision (Switzerland) and NIF SMBC Ventures (Japan) also participated, in addition to Sofinnova Partners (France), Endotis Pharma's longstanding investor. "We are really delighted over the success of these two companies based on the Biocitech campus," said Jacques Lhomel, director of Biocitech. "Bringing in EUR 100 million in one month and on one site is a first in France to my knowledge and demonstrates Biocitech's position as one of the most active sites in Europe for life sciences. We have striven to create a favorable environment for companies to develop their synergies and hence their growth - and we're very happy to see this sort of progress." "I wish to thank our new international investors for the confidence they have placed in us and, equally, Sofinnova Partners for its continued overall assistance and financial support," said Charles Woler, Endotis Pharma's Chairman and CEO. "This round will enable us firstly to accelerate development of the three advanced antithrombotics to which we acquired the exclusive development and commercialization rights from Organon, secondly to actively progress our in-house programs originated from Endotis' unique oligosaccharides know-how and thirdly to also consider other development strategies." "Novexel is very pleased to conclude this transaction with Forest Laboratories which will combine the potent beta lactamase inhibition of NXL104 with the antibacterial spectrum of ceftaroline," said Iain Buchanan, Chief Executive Officer of Novexel. "We look forward to working with our partner to ensure the successful development of this compelling product. In addition, the significant funding which Novexel will receive under this agreement will enable the company to devote the appropriate resources to the parallel and independent Phase II development of NXL104 in combination with ceftazidime." About Biocitech The Biocitech technology park for life sciences offers a world-class environment and services for the development of biotechnology, biopharmaceutical and fine chemical companies. Biocitech is on the outskirts of Paris, only 20 minutes from the city center and from Charles de Gaulle airport. It is privately-owned and provides secure premises and comprehensive facilities based on the latest technology. It has received regulatory approval for conformity to environmental protection standards. Companies can use one or many of the services offered. These include offices, laboratories and a range of technical and scientific services, - all designed to let entrepreneurs concentrate their time and resources on their core business. Companies already established at Biocitech represent a wide variety of complementary disciplines and many are working on collaborative projects. Along with other organizations in the Ile-de-France region around Paris, Biocitech plays a key role in the Medicen Paris Region network. This is a healthcare and new therapy cluster designated by the French government as internationally competitive and hence qualified for special privileges. For further information: http://www.biocitech.com
For further information, please
contact:
Andrew Lloyd & Associates
Andrew Lloyd / Neil Hunter
Tel: +44 1273 675100
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