28^th May 2004 Munich – Munich – DVC Deutsche Venture Capital, one of Europe’s leading venture capital companies based in Munich, is one the new investors of Ardana Ltd in an extension of a Series B financing totaling £ 9 Mio. (€ 13.5 Mio.). The biotechnology company based in Edinburgh is focusing on indications in the field of reproductive medicine. Besides the existing investors Techno Venture Management (TVM), MVM International Life Sciences Fund, ABN AMRO Participates BV, 3i, Merlin Biosciences Limited, Scottish Widows Investment Partnership, ISIS Equity Partners, Green Highlander LLC and Saffron Hill Ventures, new investors are 3i Bioscience Investment Trust and Albany Venture Managers Ltd.

Since its foundation in July 2000, Ardana is on its way to become one of the worldwide leading companies in reproductive medicine. The investment will support the launch of Ardana’s first product Striant^TMSR, a new testosterone replacement therapy, in the UK and other European countries as well as further developments. The promising drug candidate Teverelix,  indicated for prostate cancer and benign prostate hyperplasia (BPH), will  complete clinical Phase II trials by the end of the year.

Dr. Jan zur Hausen, Partner at  DVC Deutsche Venture Capital, commented: “The launch of Striant^TMSR and the successful closing of the Series B financing are important milestones for the development of Ardana Ltd. The company is addressing a significantly growing market segment with an increasing demand for improved therapies.” He further added: “Ardana’s experienced management team has impressively demonstrated its expertise with the efficient development of Striant^TMSR and Teverelix.”

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.

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