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Life Sciences Day of DVC Deutsche Venture Capital – Highlights andThursday 1st of July 2004 8:00
Life Sciences Day of DVC Deutsche Venture Capital – Highlights and Trends in the Biotechnology-Sector in Germany16.
July 2004 III.
Munich
– The third Life Science Day of the DVC has taken place at the Kempinski
Airport Hotel on the 5th of July. Around 140 participants from the
pharmaceutical industry, biotech companies, venture capital, investment banking,
and academic science used this opportunity for networking and the initiation of
collaborations. Preceding
each portfolio company presentation, the partners of the life science team of
DVC, namely Dr. Jörg Neermann, Dr. Alexander Asam, Dr. Thomas Taapken und Dr.
Jan zur Hausen, gave a short introduction. 4SC, Avontec, DeveloGen, G2M, Glycart,
igeneon, Sirenade and SWITCH Biotech gave a brief update on the recent
developments and further perspectives of their companies. Moreover, Epigenomics
announced a planned IPO on the Frankfurt Stock Exchange and Probiodrug
elaborated on the $ 35 million deal with the UK biotech company Prosidion Ltd.
Interesting
insights into the biotech area in Germany and Europe from the perspective of
academia, industry and finance sector were granted by the three keynote speakers
Prof. Dr. Peter Gruss, President of the Max Planck Society; Thomas P. Limberger,
CEO General Electric Germany, Austria and Switzerland, and Dr. John Goodey, Vice
President Health Care Investment Banking, Deutsche Bank AG London.
Prof.
Dr. Peter Gruss pointed out that many of the basic scientific discoveries have
taken place in Europe, but their commercialization was done in the US. He thinks
a strong scientific base and excellent technology know-how is essential for each
industrialized country. However, the achievement of constant innovation requires
a mindset, that only recognizes the risks associated with a new technology but
envisages the opportunities of the new developments. This attitude has to be
implemented in Germany and Europe and the society has to recognize the positive
impact on the daily life. Thomas
Limberger commended the business location Germany and its international
competitiveness that led to the foundation of the recently opened GE Research
Institute in Garching/Munich. He emphasized on the exceptional basic research in
Germany and its excellent infrastructure. This, on the one side, results in
advantages for the recruitment of highly skilled personnel and, on the other
side, in a market demanding innovative products. Dr.
John Goodey foresees a better climate for IPOs but also thinks that the major
exit route of biotech companies will still be M&A options. Furthermore, he
pointed out in which respect Europe follows trends in the US with a half-year
delay and in which not. He also stated that Europe should adjust to US habits
where an entrepreneur gets a second chance for founding a company after failure
of the first, thereby utilizing the experience gained at the last attempt.
One
participant of the meeting summarized the day felicitous with the following
words: “Today,
we have seen companies that made multi-million dollar deals, that is a
highlight. We have seen compounds that entered advanced clinical trials, which
is a highlight. And we have seen a company that filed for an IPO which is a
highlight. These are all indications that the German biotech sector becomes more
mature." 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 50 companies. Further
information is also available at http://www.dvcg.de
In
the event of publication please send us a copy – thank you! Press
Contact Heidrun
Moll DVC
Deutsche Venture Capital Neumarkter
Str. 28 D
– 81673 Munich Tel
+49 89 41 36 87 12 Fax
+49 89 41 36 87 87 Related Web-Links(If any, Generated Automatically)
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