Global Life Science Ventures and Atlas Venture co-lead investment into Fibrex Medical Inc

16 March 2005 – Global Life Science Ventures (GLSV) today announced that it co-led an investment into Fibrex Medical Inc. together with venture capital company Atlas Venture. Fibrex is a recently founded biopharmaceutical company developing a new class of therapeutics for the treatment of inflammation arising from heart tissue injury.

The series A financing round raised US$ 10 million for Fibrex. The fund will be used to advance the company’s lead candidate FX06 through proof-of-concept studies in humans for the treatment of cardiac reperfusion injury. Atlas Venture and GLSV were joined by EMBL Ventures and Mulligan BioCapital AG as co-investors. Dr. Rainer Henning will become Chief Executive Officer of Fibrex. Joël Besse, Senior Partner of Atlas Venture, and Dr. Holger Reithinger, Principal of GLSV, will join the company’s Board of Directors.

Dr. Holger Reithinger, Principal at Global Life Science Ventures, commented: “Fibrex has a lead drug candidate that potentially offers a new approach in treating reperfusion injury of the heart. Cardiological intervention for acute myocardial infarction is directed towards salvation of the muscle tissue, but the observed benefits are limited by the so-called postischaemic reperfusion inflammation that may result from this treatment. FX06 exactly addresses this medical need in cardiology.” He added: “Not only have we been able to attract a high powered international syndicate of investors to support Fibrex, but through the appointment of Dr. Henning we have also secured key experience in cardiovascular science as well as management to help run the company.”

Fibrex Medical Inc. and Fibrex GmbH, the company’s subsidiary in Vienna, Austria, were founded by Prof. Dr. Petzelbauer, Head of the Endothelial Cell Biology Laboratory at the University of Vienna, and an internationally acclaimed investigator in endothelial cell biology. The scientific discovery that laid the foundation for Fibrex was recently published in a contribution to Nature Medicine.1

Dr Peter Reinisch, Partner at GLSV, remarked: “Our investment in Fibrex Medical Inc. is a strong, positive sign for Europe’s early-stage life science industry. This investment shows that it is possible in today’s environment to put together the right scientific and financial ingredients in Europe to support a promising early-stage venture.” He added: “We have also been able to leverage our experience in our home markets, in this case Austria, to help Fibrex start its development into what, in time, has the potential to be a successful, international venture.”

 1 Published online, 20 February, 2005 in Nature Medicine.

About Global Life Science Ventures: GLSV is a leading, independent venture capital fund focusing exclusively on the life sciences. With offices in Germany and Switzerland, GLSV is dedicated to providing finance primarily to early-stage groups, originating from universities, scientific institutions or industry, as well as selected later stage companies, including buy-outs. The group currently advises and manages funds greater than €200 million. Up to now, GLSV has financed 27 leading biotechnology companies, nine of which have completed a successful exit through IPO or M&A. GLSV has built a broadly diversified portfolio of companies in pharmaceuticals, diagnostics, medical devices, and biotechnology. 

Global Life Science Ventures Industry-born team – Proven track record – Global perspective Germany Switzerland GLSV GmbH GLSV AG Von-der-Tann-Str. 3 Postplatz 1, P.O. 626 D – 80539 München CH – 6301 Zug Tel. +49 (0)89 288 151 0 Tel. +41 (0)41 727 19 40 Fax +49 (0)89 288 151 30 Fax +41 (0)41 727 19 45 www.glsv-vc.com  mailbox@glsv-vc.com   

For additional information, please contact: Rochat & Partners Christophe Lamps Tel. +41 22 718 37 46 Fax +41 22 786 54 58 E-mail: clamps@rochat-pr.ch