TVM Life Science Ventures VII Raises US $201.6 Million at Final Closing

Fund focuses on achieving human clinical proof-of-concept for early stage drug development projects, following a capital efficient investment approach in collaboration with Lilly

MONTREAL and MUNICH, Oct. 6, 2014 /CNW/ - TVM Capital Life Science, one of the leading life science venture capital firms in Canada, the United States and Europe, today announced the final closing of its latest fund, TVM Life Science Ventures VlI, surpassing its target with more than $200 million raised from a broad mix of investors, including cornerstone investors Teralys Capital and Eli Lilly and Company. Other investors include the Business Development Bank of Canada, the Minnesota Life Insurance Company, CD Venture and FondAction. The fund also attracted significant investment from other pharmaceutical companies such as Bukwang Pharma of South Korea.

TVM Life Science Ventures VII is a unique collaboration between TVM Capital Life Science and industry to finance and access innovation, in addition to being a way to manage risk and share reward. The fund acquires early-stage molecules from pharmaceutical or biotechnology companies around the world, and then finances a virtual project-focused-company ("PFC") for each of these molecules. The objective is to develop each molecule through proof-of-concept (one or more clinical studies designed to determine whether a molecule has the potential to work in patients). If the molecule shows efficacy, the molecule and/or development rights are offered for sale to biopharmaceutical companies.

As an added benefit, these project-focused-companies have the option to select Chorus, a virtual drug development organization within Lilly's Global External Research and Development group. Chorus provides access to world-class scientists who can produce high-quality data packages through the implementation of lean and focused drug development plans, at the direction of the project-focused-companies, that help to determine proof-of-concept.

"The high-quality of the investors in TVM Life Science Ventures VII is a testament to TVM Capital's strong 30-year track record of identifying promising life sciences projects and companies and supplying them with access to the scientific, capital and management resources critical for success," said Dr. Hubert Birner, a managing partner of TVM Capital's Life Science practice. "The fund invests mainly in Canada, the United States, Germany and Western Europe, and is advised by a dedicated team of investment professionals based in Montreal and Munich."

Dr. Luc Marengere, a managing partner of the firm added: "The fund's first investments, including Kaneq Bioscience, GLWL Research, Ixchelsis, PRCL Research, and FAAH Pharma, showcase the fund's strength in identifying innovative therapies, funding them, and advancing them through this innovative model. Through TVM Life Science Ventures VII, important new treatment options for patients are progressing for disease areas such as Type 2 diabetes, men's health, inflammation, and pain. The fund targets a total of 12 to 15 project-focused-companies and four to five traditional, syndicated venture investments."

"We are excited by the potential for this novel venture fund, working with a diversified group of project-focused-companies, to help address significant unmet medical needs," said Darren Carroll, vice president of corporate business development at Lilly. "Lilly has pioneered the use of independent external financing sources and innovative business models, such as the collaboration with TVM Life Science Ventures VII, to supplement our core R&D investment strategy, leverage research investments, and to help reduce the risks of research."

"TVM Life Science Ventures VII plays a significant role with entrepreneurs and inventors by providing them access to a global network of strategic partners, technologies and co-investors," said Jacques Bernier, managing partner of Teralys Capital. "We are proud to have played a pivotal role in the formation of this fund."

About TVM Capital Life Science

TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 30-years of transatlantic investment track record and in excess of US$1.3bn under management. The life science team boasts more than 120 investments and over 90 exits in the last 30 years, including more than 40 initial public offerings on all major U.S. and European stock exchanges, and combines long-standing international investment and company building experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals. Fund generations III to VI are managed by managing partners, Dr. Helmut M. Schuehsler and Dr. Hubert Birner out of the Munich office. The new fund TVM LSV VII is advised by Dr. Hubert Birner and Dr. Luc Marengere out of Munich and Montreal. The fund's general partner resides in Jersey Channel Island. http://www.tvm-capital.com or http://www.tvm-lifescience.com  

About TVM Capital Group

TVM Capital is a group of globally acting venture capital and private equity firms with an operating track record of 30 years. Investment teams have financed more than 250 emerging companies across several industries since 1984. During the last 15 years the firm has become increasingly specialized in the most attractive and high-growth verticals in the broader healthcare markets, with focus areas in financing innovative products and technologies in the European and U.S. biopharmaceutical and medical device markets, as well as healthcare services in the Middle East and India. TVM Capital funds operate globally with dedicated life science venture capital funds advised by group members TVM Life Science Management in Montreal and in Munich, and its healthcare private equity fund managed by TVM Capital Healthcare Partners out of Dubai.

http://www.tvm-capital.com 

SOURCE: TVM Capital

Dr. Hubert Birner, Managing Partner, TVM Capital Life Science: [email protected]: [phone] or [phone]; Dr. Luc Marengere, Managing Partner, TVM Capital Life Science: [email protected]: [phone]; General Partner, TVM Life Science Ventures VII (GP) Ltd., 11-15 Seaton Place, St Helier, Jersey, JE4 0QH, Channel Islands; Investment Advisor TVM Life Science Management Inc., 2 Place Alexis Nihon, Suite 902, 3500 Blvd De Maisonneuve West, Westmount, Montreal, QC H3Z 1X5, Canada; TVM Life Science Management GmbH Ottostrasse 4, 80333 Munich, Germany